Posted by steve101 on 23rd of Nov 2016 at 08:58 am
Steve, however, the commercial net short is still not in the
range, so far as we know, and I did a count on the dollar as an ABC
off the 2008 low, with a price projection of 106.7 if wave C =
1.618 of wave A. In this count the dollar would be in wave 5 of C
which could take until next spring to fully play out.
Posted by steve101 on 23rd of Nov 2016 at 08:47 am
Steve, I closed my miner positions on the morning of August
15th.
Is it prudent to take 1/4 positions in some miners on a retrace
to the 19.80 level? The .618 retracement in GDXJ is 30.48. The .618
in SIL is 29.99.
The BPGDM is likely to be close to zero. Sentiment is in the
toilet. Looks like a wave 2 in Elliot wave. Wave 2's can go deep. A
.781 retracement in GDX is about 16.75. Your thoughts?
Best, Steve
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USA Durable Goods Orders (MoM)
Posted by steve on 23rd of Nov 2016 at 08:28 am
USA Durable Goods Orders (MoM) for Oct 4.80% vs 1.50% Est; Prior -0.30%
Gold (and miners) selling off
Posted by steve on 23rd of Nov 2016 at 08:36 am
Gold (and miners) selling off on stronger economic data
Also, regarding miners
Posted by steve101 on 23rd of Nov 2016 at 08:58 am
Steve, however, the commercial net short is still not in the range, so far as we know, and I did a count on the dollar as an ABC off the 2008 low, with a price projection of 106.7 if wave C = 1.618 of wave A. In this count the dollar would be in wave 5 of C which could take until next spring to fully play out.
Thanks Steve101 - the trend
Posted by steve on 23rd of Nov 2016 at 09:06 am
Thanks Steve101 - the trend is your friend until Evidence changes
Is it prudent to take 1/4 positions in some miners?
Posted by steve101 on 23rd of Nov 2016 at 08:47 am
Steve, I closed my miner positions on the morning of August 15th.
Is it prudent to take 1/4 positions in some miners on a retrace to the 19.80 level? The .618 retracement in GDXJ is 30.48. The .618 in SIL is 29.99.
The BPGDM is likely to be close to zero. Sentiment is in the toilet. Looks like a wave 2 in Elliot wave. Wave 2's can go deep. A .781 retracement in GDX is about 16.75. Your thoughts?
Best, Steve