GDXJ is still on a bit of a rally like gold did today as well. With this chart I use the 50-100-day MA which works as well. From the top we started with a Death Cross which no sane technical analysts should ignore but investors sure ignore this deadly indicator. Back in late 2017 we had another Death Cross so I remain bearish with my positions. I will not make it public how many positions I have in anything but will give a cash out capital base once all present short positions and PUTS have been closed off. This could take the rest of 2018 to happen.
I have given my full trading account numbers to my friend so he can witness what I’m doing.
The Gold/GDXJ ratio this morning sits at 42.5:1 which is the cheapest it has been all year! This is good, but I want this ratio to expand much more by the end of the year. A Gold/GDXJ ratio of 62:1 is very cheap, so we still have some ways to go. All my ratio calculations are in a “Pool” as well, as it is one of 8 core indicators that I use.
Maybe some people find the lack of wave counts unreal. I’m not a day trader or an investor, but more a positional trader, as finding the right position for a reversal requires a far better job at the analytics. I look for 5 wave moves in Minor degree or larger as I sure do not want to miss any 5 wave sequence again.
As far as I can see, my gold related wave positions will “Always” have real money behind them except for the short times that I may be in all cash.
“ALL” those pretty wave counts you see as counted by the majority, have “No” money behind them, as they show me they have nothing else better to do than flip numbers and letters around like they are hamburgers. Betting against all those gold bullish wave counts is a no-brainer for me.
The 2011 peak was a 30 year mania peak, which we will not see happen again until 2041, or at least I won’t see it, as I will be having coffee with RN Elliott by that time!
We get out of the EWP by what we design it for, and if flipping numbers is all you want to do then that is all you will get. I can never make any money based on any popular wave counts out today!