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AXSTONE'S FINAL WAVE (5)

axstone

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IT WILL ALL "END UP" IN GOLD & SILVER


 

savvydon

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I see a lot of signs and talking points pointing in the direction of a 6-8 week rest/correction in the PMs. Of course that could indicate that that will not happen. Still, if it plays out this way, as many are arguing, this brings us roughly to election day in the US. Lots of potential political fireworks on top of the technicals and fundamentals in the PM sector. I think it is possible that this is setting up to be enough a correction/pause/shake out so that the weak, non believer trend followers will leave the sector. That will leave the smart money and us tin foil hats left to be strapped in for the blast off that we all know is coming... 2c
 

Lancers32

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I don't know where the metals will bottom or if they haven't already. Nobody does and if they tell you that they are lying. Might be the case though that we have seen or are very close to the bottom in the major mining stocks. They didn't really do all that much on the upside on that last little blow off to the highs so there might not be all that much of a correction

Seems like the consensus is $1800 Gold Silver $22 downside or thereabouts. I think we either have bottomed or are going to test $1670 Gold but the consensus is rarely correct.
 
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Zed

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The miner's being firmer here would be a very good sign.
 

axstone

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I liked Fridays action in the shares, lots of false breakouts and break downs, but Friday on the 4 hour chart shows a lot more strength in the GDX than the daily FWIW
gdx.PNG
 

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GDX CYCLES new high's in October?
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axstone

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JUST SCRATCHING SOME THOUGHTS DOWN
I find it a tough sell that GOLD is worth less in any FIAT going forward on a month over month basis
this gives me a Trend obedient GOLD price in CDN year end touches 3,000 CDN FIAT DOLLARS
approximately 2,300 USD.. MIN

GOLD CDN.PNG
 

axstone

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How insane, the DJIA was up almost 10% in the past year even with Covid at the start of September.
Screenshot_20200921-230232_WhatsApp.jpg
 

Zed

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Zed

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How insane, the DJIA was up almost 10% in the past year even with Covid at the start of September.
View attachment 181444

While true the S&P and Nasdaq have had a very narrow advance, it has all been in 5 to 10 companies and the rest are sucking wind. I've not checked the DJI but you may find it is the same.
 

Zed

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She'll be right mate!

 

Zed

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Hey!

Somebody stole the beach ball!

I noticed that Mr Oliver thinks Biden has this election won!

Well thats gold bullish.
 

axstone

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Mr Oliver said commodities will spring like a beachball out of water
who am I to argue :D


beach_ball.jpg


bloomberg industrial.PNG
 
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Strawboss

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Zed

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I remember back in like 2006 where you made the same prediction and it was proven right...a pretty sizeable rally followed...
It would appear to be close.
 

axstone

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tick tock, the game of wack (on low volume) and cover (short) is about up

cover cover.PNG
 

Zed

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Metals, including paper prices will rise around Nov 2020.
I said this 4 months ago.
We will soon see if I was correct.

The gold chart looks like election day is about the turn.
 

axstone

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How many breakouts do we need?
Screenshot_20201011-223554_NetDania.jpg
 

Zed

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Two points isn't, from a technical perspective, a trend. Three is... maybe these are the lines that count.

Untitled.jpg
 

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I wanna know when...
 

axstone

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Last chance for the bears?
Screenshot_20201011-223554_NetDania.jpg
 
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Zed

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It's not a bad start the real tell will be if we can build on it through the comex session. Then if we hold the break into the end of the week we're looking good.
 

savvydon

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I'd like to see POG start to move up independent of the dollar dropping. That is what would get my attention.
 

Zed

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That is what would get my attention.

IMO it should begin to happen once we have broken the old high in convincing fashion.
 

Zed

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Call me a seer, but I suspect the markets are waiting to see the outcome of the election. Yes, I know I'm a genius...it's ok. ;P

A Trump win broke gold last time, just saying.
 

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1913 - 1313 = 600
1.46
Screenshot_20201021-233659_NetDania.jpg
 
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Zed

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And started a 4 year bull market in gold

Sure... after a significant low.

The question is what is priced into the market now. They are saying it is pricing a Biden win. I'm not sure about gold, it seems ambivalent here.
 

axstone

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Sure... after a significant low.

The question is what is priced into the market now. They are saying it is pricing a Biden win. I'm not sure about gold, it seems ambivalent here.
What are you crying about?

Next stop 2,800