Miners
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.
Big downside in gold miners (GDX)Seem to have completed a H&S pattern on the weekly chart. Simple extension predicts support around the Jan. 2016 low.
Gold should continue to drop for awhile and could quite easily help GDX make new lows. One to watch.
GG - 4hDabbled long today. Not nearly as exciting % wise as some other miner ideas, but diversification...
TGD - 4hDon't recall if I had posted this idea. Similar to other miners...but with remarkable potential. Keep you positions small in these "penny" stocks. I certainly am. Stop below 0.24
GDX - 1hGDX has already tested and held the 50% retrace, but price pattern looks like it could dip lower to the 18s. 17.77 is the 61.8% target, just under the red C=A target at 18.21. IF this is an Ending Diagonal then price should react strongly on completion, bouncing to at least the mid 22s in the start of wave 1 of (3).
AGI - 4hAlamos Gold broke its recent low today. Next retrace fib support is the 38.2% at 5.81 (white line). Remember, my fibs are calculated outside tradingview, all log-scale.
Pattern looks like a possible Ending Diagonal in (v) of C of (2). Can try to catch the knife here. Safer play is to wait for an initial impulsive pattern off the presumed coming low, then buy support with stop just under that low.
RIC - DailyWave 4 of (3) dropped deeper than I anticipated, but still within the rules. Should hold over 5.28 and reach at least 15s to finish 5 of (3)...let price show an impulsive reaction here to be certain.
FNV - DailyI haven't looked at Franco Nevada in a long while, maybe since March. White count was generated back then. The target box for 3 of (1) is unchanged; price met that objective. In this pattern wave 4 should have held above 61.47 top of 1 (see red line), but since it didn't I'll need to revise my count.
Blue Alt:
Might be looking at another (1)-(2), 1-2 here (blue count added today). Price held within the usual 38.2-61.8% retrace (log-scale).
Red Alt:
Also possible this move up was an A-B-C instead of 1-2-3 as shown (red count added today). In this bearish alternative, could see a corrective bounce before a powerful move down. Clearing the red box impulsively would add confidence this isn't the case.
EGI - DailyAnother high risk trade, like AUMN. Holding a (1)-(2), 1-2 set-up at the moment. Projections off that spike low are perhaps suspect. Stop below 0.22, or certainly at 0.17. Please keep your position size small...I certainly did.
AUMN - DailyStill waiting for launch in the 3rd. Solid (1)-(2), 1-2 set up. Below 0.48 I get concerned. This is a very risky choice; below 1.00 here. Mind you position size and respect what could be a low volume spike down, possibly stopping out what could otherwise be an exciting trade.
