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

I will purchase Livermore's book and read it. Well, I must admit I got greedy. I shouldn't go home and log into my account and watch my portfolio. It went down day before and was going down again, but the miners was still showing a profit, so decided before loosing more, I'd sell and then jump back in once it bottomed out and I could buy even MORE stock. But at the end of the day, I had sold at the lowest price of the day.
@yup
Reason I bought some ABX was it was rated about a B-, large company with a lot of trading so easy to buy/sell, a lot owned by corporations. On my graph, the fast MA had crossed the slow MA so bought some to be "Diversified". As for why buy at $18, it looks to me by the graph, $18 would be the new floor for the price so figure it will be back down to 18 in a day or two. Sold the SILJ as was still in an overall profit and the fast moving average line had dropped and crossed the slow moving average line. Figured I'd jump back in on the way back up, able to buy more shares this time from the profit (greed once again). The entry points you suggested is below what I sold for :-/ So will set at the computer for the next two days watching the price in order to jump back in. This time proceeds from ABX will go into more PAAS and SILJ. The SILJ has been the best performer for me. Once back in, sounds like I should stop checking the progress every morning and read Livermores' book instead.

Just wanted to call attention to stock, a gold miner that has been mentioned by me here.

GOLD, or Rangold Resources, reported earnings. HORRIBLE earnings reaction today, despite being a stock hitting 52 highs previously.

We will discuss at a later point how we avoid scenarios like this. For now, if you were looking to buy the dip on this stock, I would avoid it, again at a later point we'll discuss how to deal with ERs and stocks at 52 high lists.

Dang, I'm glad I sold some of the mutual fund over the past two weeks.

Do you think the miner run is over for now? I don't mind selling the rest as it's still up overall.

Jumped back onboard at $12.10 for SILJ. Got more shares for my $, as I sold at 12.45. I knew by watching the market that around 10a is when prices really drop, but jumped the gun. Oh well, at least sitting on 1110 shares waiting for ignition. Now need to download Livermore's book and get some reading in and stop watching every little dip as yup recommended.

I was just trying to interpret if you thought the poor performance by GLD was an indicator of the entire sector.

I'm also aware that nobody knows where the market is going, and recognize there is risk. My plan, for now, is just to leave it potentially for a few years.

My bad, GOLD. I think my fund has about 5% GOLD.

Anyone interested in a gold "penny" stock, look at Amarillo Gold OTC AGCBF...I bought some the other day when it was 0.17....today, 0.2362...+34%...seriously, when they get into full production, this one could be a winner. Maximum profits when buying this low.

just a few things-

Gold- made yearly highs last week, up days in a row, which 2 days alone it moved 40 dollars... thats some serious steady buying. If you are bemoaning that its pulling back I dont know what to tell you. I mean you have an asset at yearly highs, out of a FOUR YEAR DOWNTREND and continues to grind higher with very little in the way of price pull backs. It spent 2 months consolidating... what more would you want?

Clearly, the buyers are in control for now and it will take a lot to stop this trend and momentum to stop.

Looks like we might be getting another range forming so stay tuned. Look to see if it bounces off 1263 or if it gets into that area in price, how does it react?

Bottomline- gold is in an uptrend. Those who have been buying the dip have not been caught out but been rewarded, so no change in character. Next price point of importance is if/when gets over 1306.

Silver

Lagged gold for a while. Formed a range or base for 2 months. A few times it fell out of the range but was quickly bought back up into the range. That was clue number one of who was in control between sellers and buyers. Clearly buyers were showing their authority by pushing it back repeatedly into the range.

Then that explosive move came as we covered in last weeks charts. 12 CONSECUTIVE up days in a row. That pushed into yearly highs and gave confirmation that silver is an up trend.

What more do you need to understand or grasp that simply put, buyers are in control of silver and not sellers. Anyone who thinks some day silver is just going to roll over any day now is either high on something or is just full of wishful thinking lol

With such rapid, non stop buying, silver is showing incredible strength as it has backed off by about 40 cents from its yearly highs. If we step back and look from where silver broke free from, the 16's range, its still way above that.

Again, just as with gold, silver is in a clear uptrend. Its pulling back so far in an orderly way considering it was bought day after day. A pull back MUST happen and is HEALTHY. It helps silver reset and allows for the smoother ride up. Dont fight or panic when pull backs happen, especially we are at the START of the uptrend and its early.

The next target to watch for on silver is 18.06, breaking that price brings us more highs. simple.

stick with the trend. If you have been buying right, your concern is not about pull backs or whether the trend is done. I will repeat again for a millionth time: the big money is made by sitting on your hands, letting the move in price, let it follow the trend and allow it to do its thing. Stop worrying about when the trend is done, we just barely started it.