What Happens To Gold And Silver Next? Look Out Below?

The market is like a woman, impossible to predict, hard to tell what it's thinking and can change from day to day. My mining stocks have been doing well while my bio techs not so good. Miners were up, bio techs down. Last few days the mining stocks up and down to end the day with me at a loss. Today, all mining stocks down and bio techs all up. It's enough to make one get a knot in their stomach if dwelt upon. At one point I was wanting to dump one of the biotechs, but didn't. Going with what yup has said to practice, patience. I feel confident about the miners, but the bios had me a bit concerned, but looking back at the 52 week highs I bought in very low in comparison, and indicators said strong buy or buy when I bought. So now comes the hard part, waiting. If nothing else I will learn patience.

silver to gold ratio is screaming buy right now, but I'm trying to save up 50k for a house and am about half way through. Hopefully by this time next year I'll be able to save up 50k to buy a house. Do you think I should buy silver now or wait until I have a place to stay of my own?

I think even if I do pass on the opportunity with the upcoming recession another opportunity will most likely arise again in the near future.

You're saving 50K to put into a house.. and half way there...

How would you feel if when you invested that savings it lost 15-20%?

Don't think about what you can gain.. you must be able to accept what you can lose!

Silver is a very VERY risky investment, and I would never suggest you going into PM's with more than 10% of your total portfolio...

Having said that... I did swap my gold for silver when the GSR was at 80 discussed here https://goccf.com/t/254056 ... as long as the GSR is 80 or above I will continue to buy silver... and right now it has some positive price action... so I may pick up a bit more here and there but I've already taken in my position with silver and now it's just a waiting game for me...

wanted to put up a few charts up this week but just dont have the time but lets talk the key numbers going forward.

lets first say again and repeat for the millionth time: price action in the metals, like silver is constructive and as it continues, pushes the probabilities up that its officially in an uptrend, more later on that.

Gold is in an uptrend. It is simple as that. Gold hit yearly highs so that is our complete, 100% seal of approval of the market you could say, that it is in an uptrend. If you dont believe that simple truth of price action and think prices are going lower, well you probably are going to miss the entire move lol

Silver

the price action last week in silver is exactly what you want to see and observe to determine how strong the buying is and who is in control. Very explosive move out of the range repeatedly thanks to steady buying. Buyers looked tired towards the end of the week, normal.

Ideally, it would be nice to see silver pull in a bit or just go sideways, make another range and then push for that yearly high. Last week it came within cents of the yearly high. Typically, ranges, when they are broken, the direction of the range tells us exactly where the asset is going. IN this case, silver broke the ranges last week higher and so probabilities are high that yearly high is a good target.

The numbers to watch this week are-

see if silver can get over 17.72 and then go past the yearly high, which would be 17.77 Watch to see if silver breaks the Friday LOD which was 16.91


Gold


nothing to really say. Still range bound. Nothing wrong at all with that. so far looks like the range is getting narrower and narrower. Last it it got back into some key b/o areas in fact.

AGain, this is fine as it goes sideways. Notice it hasnt crashed back down. the more it just goes sideways and keeps trying to move into its previous 52 high areas, the higher the probabilities that when the range is broken, the push is up and explosive.

So again, nothing really to see. Uptrend still in place, sideways action and the next point of interest is for when/if that 1287.80 area is hit.

Miners in general also are in up trends and are market leadership. This is where the money is flowing into besides the PMs. If you havent bought miners and sitting on the sidelines you are missing out. One will make most of their returns by being where the funds are buying, buying the market leadership.

final observation- past couple weeks many parts of the commodity complex (grains, softs etc) the price action has been constructive. There have been some pull backs in the final part of the week in some but you have to expect this with trying to get out of a downtrend. Perhaps as a whole commodities are trying to turn around. Time will tell.



FOr now, stick with the trend until price says otherwise.

Your not alone Zack..I've lost more $$$$ gambling on bio's than anything else...still sitting on RLYP and GNCA and SYN..at least my INO is up...never thought mosquitoes would bring cash in my pockets!
Toughest group to invest in...don't even talk to me about KBIO. I lost a bundle.

@yup
Thanks for the advice. Since becoming an active trader in the portfolio (It didn't do well after just putting money in and 'forgeting' it) I have had to adopt the mindset I have at work in the medical field. You cannot become emotionally involved; it will tear you up. It might sound cold, but it's a means of mental self defense.
When I'd look at the portfolio and see a red loss, at first it hit my gut. Now I just look at it objectively, see what's been pulling it down, decide to dump it or hold. The other biotechs have good indicators, making a bit. The big money makers are the miners though. But didn't want all the portfolio in just miners, and with my little bit of experience, the biotechs I bought were down, and volume was good. Indicators said buy. What I've got left I am willing to sit on for awhile and watch. Heavy into miners though. I believe PM will pay off. Going to ride this baby to the top, with a little help from my friends ;-)

Really not much to say lately as we really havent done much...

silver, been up 8 days in a row. Cant really see it pushing higher here and even if it did, doubt it would hold or go higher. It would be good for silver to pull back soon.

gold, continues to chop and bounce around. could go lower, could go higher, tho seeing a move lower wouldnt surprise me.

miners look ok but need some resolution here, either lower or higher.

whaddya NUTS Montana? Come on...where's your positive spirit! I think Mr. YUP has miners he's HOLDING till the bitter end, and, plays buy-sell-flip, with others(most likely the biggest names, with the most price action)....I have both..ones I flip,(3, or more days "scalp", so I don't run into settlement issues, which can lead to supspensions at your trading house real fast), and, ones I wont sell until gold hits.....fill in the blank..I don't want to jinx it, or look stupid.