Miners
CDE - 2hrMonstrous +13% day. Shallow wave (2) relative to other miners, assuming its complete. A pattern like the one I've outlined for wave 1 would add confidence. Retraces may be relatively short and shallow if this is, in fact, the start of wave (3). Note structure of wave (1) off the low last year.
As always, my notes aren't meant to indicate timing.
GDXJ - 2hrSome individual names have patterns suggesting this more immediately aggressive yellow pattern within minor wave 1, whereas others the white minute i-ii structure. I'd like to see the resistance region taken out over the next week or so regardless.
GDX - 2hrFor reference against some of my individual miner ideas posted. Remember, each individual name has its own pattern.
SA - 2hrI was early on Seabridge Gold. Should have stopped out but the swing position was small...may look to add to this position on a retrace.
SA dipped below ideal wave (2) support but has a solid impulsive looking move so far off the low. Need to see something like this 1-2 play out if wave (3) is indeed underway.
RIC - 4hRIC held above the 61.8% extension of presumed wave 4 of (3). Slightly different pattern than what I'm tracking on some other names, so the nature of this presumed impulsive move will be an indication if something else is operative. I plan to take swing trade profits above 15, or else stop out as the pattern dictates.
AKG - 2hrImpulsive looking bounce off support. I was early on this one, as I was on many other miners, but great R/R for a swing trade. Stop below 2.59 low, or trail behind higher lows if more sensitive to drawdowns.
Looks like a clear 5-waves up already, so may be due a consolidation soon. I'd like to see min 4.24 reached in wave (1) but I don't plan track the sub-hourly price pattern on individual names... The mid 9s should be reached in wave (3) of circle-3.
HMY - 2hrI've got 5-waves up. May already be in wave circle-iii. Wonderful potential here with a stop below the recent 1.87 low. A ~2.20 stop may get taken out IF wave circle-ii is operative, but would also be viable if 2.33 was the top of circle-I.
Green fib targets revised slightly lower from prior ideas due to lower C of (2).
VGZ - 144minI know I've posted ideas on some of the sub-$1 miners, warning that positions should be kept small until we get confirmation. So far, a good start to proving the correction is over in wave (2). The larger 1-2 will add confidence. Retraces may be small in a presumed wave (3), and I'm not sure about the timing as my analysis isn't a timing system. Just watching technical indicators and price pattern for clues.
Straight stock plays on juniors like this are safer plays than 3x leverage ETFs in my opinion. Long from ~0.87
SSRI - 4hrDoes this system work? You be the judge. Here's my typical targets and supports as yellow boxes.
White count is highly suspect unless 22.42 gets taken out strongly.
DRD - 4hrI've got an order open for 4.40. Initial target is 8.24 though I may hold much longer. DRDGOLD pays exceptional dividends.
GFI - 4hrI should have stopped out of Gold Fields LTD but held on. My position is small anyway. Excellent R/R entry with a break out over 3.30, stop at 2.94 (or where the low forms...).
Short setup - GDX (4H)We might be waiting a while longer for that -long- setup. This structure is bearish and we could see GDX hit as low as the 18s.
VGZ - 4hPosting this idea to explain what I'm doing with all my fib calculations.
And trying to convince TradingView to program the calculations as a selectable option in the Trend-Based Fib Extension tool.
The Fib Retracement calculation is quite similar. Its' the exponent of the difference in LN(price points) multiplied by the desired retrace % as I recall.
PAAS - DailyPan American Silver Corp had a great day, and may have signaled it's low. See hourly chart below.
Recommend stop below 13.80, or possibly 16 depending on your tolerance.
GORO - DailyTrading against the reversal of an Ending Diagonal is never a good idea. Price frequently returns to, or exceeds, the starting point. Gold Resource Corp might have another squiggle lower to complete wave (2). I'd like to see some positive divergence set up on MACD.
New lows in gold for 2017?$GC1! has pretty much proven the 2016 rally was just a reaction high. We'll have confirmation if we close year end below 1307. A close below the 1179 quarterly bearish for year end would raise the probability of new lows DRAMATICALLY.
Would be great value if we could get a pullback to the previously elected monthly bearish level (1242.1) and 50/60 ema. That move would most likely coincide with a pullback in the $DXY -0.14% and $DJY0 to their fib/ema areas.
As Marty always says, just watch the numbers.
