1. Surf City

    Gary, Gutsy call.

    I have prepared my portfolio for the same event, without hedges, as I also expect Gold and the Miners to move higher next week. But I also have an exit plan in case the rally fails and this is not the ICL.

    My chart work still shows Gold and the Miners are still chopping in Bear Flag patterns until they are not. So while I am positioned, I still need a bit more evidence before I remove the tight leash that I have on my positions. I also make my decisions in real time 😉

  2. duckwhorocks1

    USD is gonna blow past 105 on USD/JPY proving all cycle counts wrong so far.
    Gold has got another $45 bucks minimum.
    On the bright side, the COT picture is improving, slowly and steadily.

    Considering the all in breakeven for most Mining stocks at $50 US oil is about $1,000 Gold price, their operating leverage was around $360 an ounce at a gold price of $1,360.
    At $1,180 that falls by 50%. So close to the breakeven Gold stocks can show tremendous leverage in both directions on Gold. I think we will see a 1 handle on GDX before this is over.

    1. Gary Post author

      Cycle counts aren’t “wrong”. They just are what they are. The current one is stretching far beyond normal. It happens every once in a while. Sometimes during a final ICL. That’s what is happening now. The euro is diving into an ICL and it is causing the dollar cycle to stretch.

  3. Don

    I like what Gary said about analysts who ‘predict’ multiple scenarios and then claim that they got it right, no matter which way the market goes. Paying someone for such rubbish is just silly. On the other hand, someone who makes a call and then refuses to acknowledge that they were wrong (hoping no one notices the fails), is just as bad. Gary does admit failures although he is sometimes a little slow to do so.

  4. Don

    I agree that we have seen a cycle low for the miners although I expect we will see another troublesome pullback from current levels. I am remaining long gold, silver and a my penny stocks (that have held up quite well with some continuing to advance). I will buy more if we get any more sharp sell offs that serve to shake out weak players.

    1. Pedestrian

      I agree too Don. I just grind my teeth wading through any article Avi has written. They are just so pompous, presumptive and insulting of readers. That guy has a count for everything including the hairs on my head. He can never be wrong! EWI Pewy.

  5. earthkitten

    Gary, you are so right about some of the other analysts. Read one that
    said the miners could consolidate & drift lower or could rise from here very
    fast. Oh really. So confusing with chart lines all over the place. Thanks for
    being straight & to the point. Like you said, no one can time every trade
    perfectly like some claim. Thanks so much for your analysis. I have learned
    so much. I have learned not to panic during bull market drawdowns &
    added to my mining positions last week. Thanks again.

  6. zaglebie

    I’m not sure who this Zaglebie troll is. He’s stolen my password. Just ignore his BS. Clearly he has no useful information to share. A complete waste of everyone’s time.

      1. Albertarocks

        I noticed years ago that whenever Avi writes an article, the topic is only secondary. What is important to Avi is that he makes reference to himself a minimum of 30 times per article. Most authors use the word “I” or “my” maybe twice… three times tops.

        Go to any article written by Avi Gilbert and use the Control-F function to search for ” I “, ” me “, or ” my “. You’ll see what I mean. That kind of ego sickens me so much that I literally have not been able to get through one of his “Hey everybody, look at me” essays for at least a year now.

  7. earthkitten

    All Avi talks about is wave this & wave that & wants to criticize someone
    who knows a lot more about analysis than he’ll ever know.

  8. Anthonyo

    That other “analyst” has always looked like an idiot in his confusing, convoluted, and stupid EWT articles in the past which don’t make any sense whatsoever. And he is noting but a fake and a phony media shill.

  9. rupp

    Big FU middle finger on the gold chart this morning. The last time that happened it was the week ending before gold got slammed $50 below 1300

Comments are closed.