Printable View
gold
my current bullish count if the consolidation yesterday in that declining channel is a wave 2, gold could be spotting a sub ii of iii of iii, alt count will just be 5 waves up to 1350 and correction to back test the 1340 area. (1341 has always been my prefer neckline breakout) testing this area may also make sense if it wants to shoot higher.
https://s17.postimg.org/nbrs7fnin/gold_03-23-2018.png
dollar is at 89.13, looks like the backtest was successful. There should not be anything stopping its drop to a double bottom or lower low unless there are any intervention. would like to see gold give us that recognition wave 3 of 3 breakout.Quote:
Originally Posted by SilverRex
dollar
right now gold appears to be correcting after the run from 1307 to 1357 about. However the fate of gold and the PM complex hinges on the dollar's ability to make a new low. while I am still favoring the count for a 5th wave down under 88, the dollar so far has a perfect A=C setup, and it needs to fall from here. if for what ever reason it begins to push higher, I will begin to question if dollar's intermediate rally which could last for months is beginning. This will not go well for gold and miners considering miners continues to disappoint and this recent rally has been very lack luster at best. while I am back to about break even on my jnug I will be watching gdx at 21.16 closely, if this breaks I may just pack it in and exit, and wait a couple of weeks to see if a collapse in metals is coming.
https://s17.postimg.org/t414tf1en/dollar_03-28-2018.png
Gold has hit the 61% level at 1325.7 of the 1307 to 1356 move. I want to see gold find support here
Weed
personally I think the chart on Weed looks the best of the big 3 (ACB, APH). I have noticed lately this sector has been quite boring. looking at the previous patterns of how it was traded, it is so far trying to follow the same pattern, with over lapping 5 wave structures up, follow by a bit of a side way correction, then a new impulsive cycle begins.
personally I still believe the MJ sector should still see one more higher high. So we will just wait patiently as it is building momentum for the next big move.
https://s17.postimg.org/ip5klyn8v/weed_03-29-2018.png
gdx
still holding onto my Jnug unless gdx breaks below 21.16, clearly it has broken out of the triangle apex which gave it some momentum, but it is still vastly under performing relatively to gold's strength. all I know is, if price breaks below 21.16 under wave (d), that is technically quite bearish so I will use that as my line in the sand.
COT data shows gold needs to fall while COT silver looks uber bullish, this cant happen, one of them is lying, but who?
https://s17.postimg.org/k4p3xx0lb/gdx_04-03-2018.png
Anyone trying to catch the falling knife on MJ section, good fucking luck lol. Not fighting the trend.
I sold off my ACB at a small loss to buy in when it gets closer to $7.50-$6.50 range. It will bounce back, it's just a matter of when. I'm moving to more energy/miners. Made money with Pony, Crew Energy and now I'm watching some other gold and energy companies slowly do a march upwards, but I'm keeping some cash to pick up stuff when it falls lower.Quote:
Originally Posted by Disoblige
I have a few % in mj I've hung on to and Jesus lol. But Everything feels like a falling knife right now and my portfolio is raping me pretty hard. Not one stock is up from feb 1 that I am in or watch. Half of it makes sense, but the other half is I'm guessing only because of trump flapping his yap. I'm not banking on any big rebounds for months either.Quote:
Originally Posted by Disoblige
Icon
havent looked at this for a while, surely from the last rally, I mention it was only 3 waves and unless it gave us a 5th, lower lows was possible. So count suggest final leg down under way. lowest target is 0.74, there are divergences across most time frame so the bottoming is imminent, I may add another position if it ever gets that low.
https://s17.postimg.org/owzubu5wv/icon_04-04-2018.png
All the money I ever made with MJ is slowly disappearing. Sighs lol
Hs announced their multi million dollar contract (officially signed) today I heard rumors of in December. Hopefully some more news is in their future of more big contracts. Lots of penny flippers in this one now + shit market keeping it from breaking out but I'm hoping by sometime in summer it's Rockin again. I suspect this contract might slow push the stock price back in to double digits. My break even is 14 cents so pretty depressing at current prices.
I definitely need to exercise the buy low sell high motto but I just keep collecting them.
at this point, I'm just waiting for stocks to start trending up again before buying more stocks which probably wont happen again until later this summer.
SilverRex, do you use Think Or Swim for your charting??
Weed
looks like we already have our wave 5 up (just slightly higher than wave 3) and major 2 down is underway. it continues to look like a larger fractal pattern of the correction back Nov 2017, micro count wise, it could use one more drop to complete this leg down.
https://s17.postimg.org/vd54qxunz/weed_04-05-2018.png
I heard some rumors about BBI - anyone hear anything in regards to a buyout?
Nasdaq
possible wave (c) of (iv) bottom being in. even if we get one more low, it does not change the main count. this entire correction off Jan 26 is a giant wave (iv) with a final wave (III) of 3 to come that should take us pass 8000+
I have already moved in the remaining of my RRSP cash on Feb 9 during the wave (A) drop because it was a perfect 5 waves down. wave (c) is tricky as it can break a new low or it may not. DJI did but so far nasdaq and spx hasnt. spx top side wave 3 target around 3200.
here is the catch, once we reach the final wave 3 of 3 top, things will and can begin to get even uglier, I will be planning to scale out of most of my position in the general stock market except gold and crpyto. The next correction will be a big one (those that recall the post I share about how after 5 waves up price tends to retrace the prior wave 3/4 range) that means it can drop all the way back to the 2016 low. so Nasdaq imagine from 8000 to 4000 and spx from 3200 to 1800. yes another 2008 like event. Those that also follow the Armstrong confidence model also should know from now until the next 2 years suggest a similar window.
This is where I see gold/silver make it's final significant move up that may have already begun or perhaps in the summer (if it cannot breakout now and this gets pushed out a few months due to dollar's recent strength for an intermediate degree that can last for a few months)
Interesting times ahead. if I have learned anything from 2008, always have ample cash aside for 40-60% drops to take advantage of the low, biggest opportunities come from these cycle lows, not from chasing the top. Even if there is a melt up scenario where this final wave 3 up can push beyond the projected lines of the targets I mentioned.
https://s17.postimg.org/txcgbaf4f/nasdaq_04-05-2018.png
Well after a long hold on PONY and finally getting back above my average cost, I have exited my position with a small gain. If it drops back down, I might get back in with a smaller position.
Picked up a small amount of largo resources this morning, looks like it could be decent. Year, month and 5 day trending upwards pretty well. Volume looks ok.
nope, I only use tradingview right nowQuote:
Originally Posted by vengie