Thursday, December 01, 2016 6:52:55 PM
Happy Haircut Day...Exeter Resources...
50% haircut from the top.
(something I forecasted for miners when they were getting bubbled up to ridiculous overbought levels this summer.) When you look at the miners charts...you have to visualize that the real topping target zone was the rally peaks in March/April and certainly by the May/June peaks. Those are the real technical tops. the rest of the rally that surged on into August was nothing but an overhyped pumped up bubble,probably pushed up By the Cartel and wall street gamers,For the express purpose of setting up the Slam down ,and all that money to fleece out of sheeple investors.....and that's why they are collapsing down this far now, a predictable 50% haircut.
It might not have happened at all in a free market system, but the Cartel did its job in the first week of October when China went on market holiday and then in the first week of November the "Trump election" was the 2nd catalyst for the Cartel smash down.
and they just take them down to the 50% haircut,where folks can decide to buy more or not. I bought more XRA here at this target (72-75) simply because it fits the technical picture,elliott waves, etc...and is a nice 50% haircut.
Now the game becomes tricky to decide how far this bounce to come will rally...the Fibonacci retrace on XRA shows danger starting around the 1 dollar zone,1.00-1.10-1.20) and IF the Cartel decides to keep smashing down the miners for the next few months, we could see another reversal and downwave from this Fib retrace area. and this picture is almost identical on most miners.
IF the market was really moving in bullish upwave trend for miners....we would not have seen the Cartel play their manipulation game like they did this October and November.
The charts are a forensic snapshot of the Game that got played.
Just like the Grand Smash down shattering the gold chart in April 2013, there came the right time for the Cartel to shatter this Bullish wave pattern of the miners 2016 rally...and this chart shows what that looks like . First week in October (China holiday) see on the chart where it began there..and then first week November ,same thing (Trump election) ...shattering the bullish upwave, and creating the current downwave. Now, in betwixt and between, comes the next bounce. and IF you trust the Cartel to be nice to you,then you will hold onto the miners and just like the last 5 years, be at the mercy of whatever they intend to do to keep suppressing and destroying the metals and miners.
The sector and the gold and silver values are still under the control of the Government Powers,and not just the USA or London govt ,it could be China too... theres no single monster to blame, its the whole global system of powers that control the currency, gold ,silver, and their source, the miners will follow along in some manner,leading the metals or following, doesn't matter.
When you think of the need to control a global currency, gold ,silver, maybe platinum... I can understand the need to have some stability ,some working system that functions in a stable way,changes in a stable way, evolves. and if it gets broken down becomes replaced with some system that establishes a new stability , for global commerce, etc... so I can understand the need to have the currencies working in a stable system among nations. But why do the powers have the need to suppress and destroy the Miners. for the last 6 years, nothing but destruction and suppression. No other sector has suffered such destruction.
Now, in 2016, as if a magic switch was flipped on January 19.... we suddenly get a giant surging rally in Miners, across the board, that overextends into a super bubble pumped rally that entered a greater target zone for a future cycle,a target top that should have taken at least 2 years to get there, but got there in August ,after 7 months....and now we are seeing the shattering 50% haircut.
IF this shattering downwave of the last 2 months,was real market driven, I could see it as normal price action and it becomes tradable...remember that, tradeable because it is real market price action, but THIS was not real market price action....it was Manipulated, orchestrated, contrived and executed destruction by the Powers controlling the miners and metals. and they Needed to shatter this uptrending chart before it began its next rally to higher highs. and the time to do it was the China holiday and the Trump election.
Now the question remains, IS the retrace downwave finishing here, or will they continue taking it down to the entire bottom all over again. Will it rally now back to ....where? what target zone...and then what will the Cartel do when it gets to the resistance target again.
XRA chart shows the resistance zone around 1.10 area
Almost all the charts show the same (or similar) picture as this one.
Folks who bought all the miners in January and Sold them all in August made a Great Fortune.
Now this bounce from here, or from wherever they stop this downwave... this next bounce will need to be watched carefully and folks will need to decide how much they want to be a gambler in this market.
IF the Cartel decided to smash down this rally in metals and miners, what will they do in the second act , coming as this bounce retrace hits the resistance zone. maybe in a month, or 2 months...or it might stretch out slowly in a slower bounce,like what biotech has done (see IBB and XBI) what will the Cartel do with the next bounce ?
(click to enlarge)
50% haircut from the top.
(something I forecasted for miners when they were getting bubbled up to ridiculous overbought levels this summer.) When you look at the miners charts...you have to visualize that the real topping target zone was the rally peaks in March/April and certainly by the May/June peaks. Those are the real technical tops. the rest of the rally that surged on into August was nothing but an overhyped pumped up bubble,probably pushed up By the Cartel and wall street gamers,For the express purpose of setting up the Slam down ,and all that money to fleece out of sheeple investors.....and that's why they are collapsing down this far now, a predictable 50% haircut.
It might not have happened at all in a free market system, but the Cartel did its job in the first week of October when China went on market holiday and then in the first week of November the "Trump election" was the 2nd catalyst for the Cartel smash down.
and they just take them down to the 50% haircut,where folks can decide to buy more or not. I bought more XRA here at this target (72-75) simply because it fits the technical picture,elliott waves, etc...and is a nice 50% haircut.
Now the game becomes tricky to decide how far this bounce to come will rally...the Fibonacci retrace on XRA shows danger starting around the 1 dollar zone,1.00-1.10-1.20) and IF the Cartel decides to keep smashing down the miners for the next few months, we could see another reversal and downwave from this Fib retrace area. and this picture is almost identical on most miners.
IF the market was really moving in bullish upwave trend for miners....we would not have seen the Cartel play their manipulation game like they did this October and November.
The charts are a forensic snapshot of the Game that got played.
Just like the Grand Smash down shattering the gold chart in April 2013, there came the right time for the Cartel to shatter this Bullish wave pattern of the miners 2016 rally...and this chart shows what that looks like . First week in October (China holiday) see on the chart where it began there..and then first week November ,same thing (Trump election) ...shattering the bullish upwave, and creating the current downwave. Now, in betwixt and between, comes the next bounce. and IF you trust the Cartel to be nice to you,then you will hold onto the miners and just like the last 5 years, be at the mercy of whatever they intend to do to keep suppressing and destroying the metals and miners.
The sector and the gold and silver values are still under the control of the Government Powers,and not just the USA or London govt ,it could be China too... theres no single monster to blame, its the whole global system of powers that control the currency, gold ,silver, and their source, the miners will follow along in some manner,leading the metals or following, doesn't matter.
When you think of the need to control a global currency, gold ,silver, maybe platinum... I can understand the need to have some stability ,some working system that functions in a stable way,changes in a stable way, evolves. and if it gets broken down becomes replaced with some system that establishes a new stability , for global commerce, etc... so I can understand the need to have the currencies working in a stable system among nations. But why do the powers have the need to suppress and destroy the Miners. for the last 6 years, nothing but destruction and suppression. No other sector has suffered such destruction.
Now, in 2016, as if a magic switch was flipped on January 19.... we suddenly get a giant surging rally in Miners, across the board, that overextends into a super bubble pumped rally that entered a greater target zone for a future cycle,a target top that should have taken at least 2 years to get there, but got there in August ,after 7 months....and now we are seeing the shattering 50% haircut.
IF this shattering downwave of the last 2 months,was real market driven, I could see it as normal price action and it becomes tradable...remember that, tradeable because it is real market price action, but THIS was not real market price action....it was Manipulated, orchestrated, contrived and executed destruction by the Powers controlling the miners and metals. and they Needed to shatter this uptrending chart before it began its next rally to higher highs. and the time to do it was the China holiday and the Trump election.
Now the question remains, IS the retrace downwave finishing here, or will they continue taking it down to the entire bottom all over again. Will it rally now back to ....where? what target zone...and then what will the Cartel do when it gets to the resistance target again.
XRA chart shows the resistance zone around 1.10 area
Almost all the charts show the same (or similar) picture as this one.
Folks who bought all the miners in January and Sold them all in August made a Great Fortune.
Now this bounce from here, or from wherever they stop this downwave... this next bounce will need to be watched carefully and folks will need to decide how much they want to be a gambler in this market.
IF the Cartel decided to smash down this rally in metals and miners, what will they do in the second act , coming as this bounce retrace hits the resistance zone. maybe in a month, or 2 months...or it might stretch out slowly in a slower bounce,like what biotech has done (see IBB and XBI) what will the Cartel do with the next bounce ?
(click to enlarge)
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