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Post by clinton on Oct 3, 2014 7:38:37 GMT -5
gold hates jobs reports Attachments:
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Post by huh on Oct 3, 2014 9:29:30 GMT -5
Coming up on support in GLD and SLV. But if these fail, watch out! (and patterns say they will, may bounce some, but very likely to fail) GLD SLV (an update to that large bearish pattern I posted before - so far playing out exactly as it should)
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Post by jacksrbtr on Oct 6, 2014 20:26:56 GMT -5
GLD bounced up off its triple bottom today. ITMS almost at the point of reco'g it long.
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Post by huh on Oct 7, 2014 8:00:39 GMT -5
GLD bounced up off its triple bottom today. ITMS almost at the point of reco'g it long. No such thing as a TRUE triple bottom IMHO.
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Post by clinton on Oct 8, 2014 8:35:07 GMT -5
looks cheap Attachments:
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Post by huh on Oct 10, 2014 7:56:35 GMT -5
As I showed in the last GLD chart above, gold could get a bounce here for some FIB retracements & gap fills. Maybe even enough to tag the top of that descending triangle one last time (but very unlikely).
But be careful longer term...I see gold starting for ~940's very soon. It's as clear as day on gold's weekly chart (and would have to get over 1350's to break the pattern!)
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Post by huh on Oct 10, 2014 8:19:08 GMT -5
If long gold, I'd definitely take advantage of this weakness that should start in the dollar soon.
But the best case scenario I'd hope for in GLD would be ~123.89 (also ~ it's 200dma). And that would be the best case to play for. Otherwise would want to wait for a break above that large descending triangle.
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Post by huh on Oct 10, 2014 8:21:09 GMT -5
I have a friend who asked me about silver when it was up around $35. I told him to wait and that it would likely drop all the way back to $14.
He went ahead and bought $60K of physical silver anyway.
DOH!
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Post by novie08 on Oct 12, 2014 21:43:56 GMT -5
Poor guy..agree with your gold assessment, but tonight it's marching toward 1240 on the IMF's warnings. NY can crush it come 8 am EST tho.
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Post by huh on Oct 14, 2014 7:28:22 GMT -5
Gold trading at 1236. Seeing possible bull flag target ~1244, backtest support ~1233. But not liking that gap below ~1223.
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Post by huh on Oct 14, 2014 7:50:32 GMT -5
Gold completed the bull flag backtest with that quick gap down to 1233.20. ↑
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Post by huh on Oct 14, 2014 8:31:29 GMT -5
Gold looks to be failing that small bull flag.
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Post by maxi on Oct 14, 2014 13:53:23 GMT -5
Gold looks to be failing that small bull flag. Only thing that will save gold and the miners is more QE. That guy Novi and I followed for a while has been screaming buy miners for at least 6 mos now. I doubt he has any subscribers left.
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Post by novie08 on Oct 14, 2014 15:00:49 GMT -5
So true, Maxi. I haven't looked at his site in weeks, maybe months. Can't even remember which ones he recommended but there are some that are up quite a bit...RIC +133% YTD, FSM +77% YTD...but they are few and far between.
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Post by maxi on Oct 14, 2014 16:05:13 GMT -5
I just looked at today's tape for gold miners. a lot of them were up. But JDST the3x bear for jr miners was also up. Not sure what to make of that.....
AUQ and ASM were both up on record production levels.
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Post by jacksrbtr on Oct 14, 2014 17:40:49 GMT -5
Gold looks to be failing that small bull flag. Only thing that will save gold and the miners is more QE. That guy Novi and I followed for a while has been screaming buy miners for at least 6 mos now. I doubt he has any subscribers left. What guy is that I wanna make sure I ain't following him too!
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Post by novie08 on Oct 14, 2014 21:11:09 GMT -5
Mike Swanson, Wallstreetwindow.com Still haven't had a chance to check.
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Post by huh on Nov 5, 2014 8:17:18 GMT -5
Both gold and GDX look to be at very important key areas here. ... If <1290, then 1140's. ... Well it only took about a year, but Gold finally hitting the 1140's downside target.
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Post by huh on Nov 5, 2014 8:21:24 GMT -5
Coming up on support in GLD and SLV. But if these fail, watch out! (and patterns say they will, may bounce some, but very likely to fail) GLD [chart] SLV (an update to that large bearish pattern I posted before - so far playing out exactly as it should) [chart] Will be watching for signs of gold and silver bottoming, but still need to be careful here. Still have these potential lower targets for both GLD (~96) and SLV (~13.70's)
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Post by huh on Nov 5, 2014 8:51:05 GMT -5
Current downside target in gold is 930's, against 1175 resistance.
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