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

Was watching the overseas price of silver last night falling, and figured my miners ETF would be down this morning and in the red by the end of the day. Got home and watched as the price increased. By the end of the day, price was UP, but the volume and candlestick were red, indicating more sellers than buyers. Only way I figure this to have occurred is if there was some high volume buyers, buying up stock from multiple individuals. Institutions only hold 1% of this stock. Interesting day indeed. Also, the opening price was higher than the close yesterday. :-)

Just a couple of thoughts-

GOLD (randgold) had a HORRIBLE earnings reaction. That gap down was ugly. Generally, you dont buy stocks with negative reactions until they show points in price that they have overcome that selling.

However, following what happens here closely will be interesting. IF GOLD (randgold) can get back to its yearly highs and make a new 52 high, it means the buyers clearly are dip buying and again, the overall trend is so strong that the market is willing, for now, to look the other way at companies that miss horribly with their earnings.

Overall, it looks like the BEST spots to be in are in the minining ETFs such as SIL, GDX, GLDX and a few select names. FNV is one I like particularly because theres no more price memory at these levels, in other words no overhead supply. Tie that in with a good ER reaction, and price should continue to drift upward along with the uptrend in miners.



Finally, I wouldnt really pay attention to closely to the overnights session's unless you are trading those markets or are trading futures. The reason being is that for the most part, by the time things shift here, they really change. COMEX is where the action is at and the most important place, not anywhere else. We lead, everyone else follows.

I do like Newmont..I just wish I had NOT gone In-Out-In...multiple times and just stuck it out. Oh well, no reason to beat myself up over it, whats done is done. I have it in 2 accts doing well and not touching it till the top.

There is 1 aspect of Investing in stocks which really made taxes tough this year...K-1 forms. My HR Block lady, who has years of experience, was pretty ruffled by these odd forms, which splay out into needing other forms to fill out, all of which add expenses to the bill. To be honest with you, I'd have to look and see which 4 RTF's or Stocks produced these. All I know is K-1's from a buy or sale don't seem to be good things at all, and, it can be very difficult for an average investor to find out if one is kicked in. Maybe YUP can clarify this. I'll poke around and look for a list to post.
My HR Block lady had to call in a helper to deal with K-1 forms and WASH Sales, which were all handled differently by 3 trading houses. I didn't think my taxes would be so complicated, but, they were...I know for next year now what to prepare for. My limited knowledge of Bullion ETF's, whether inverse or "regular" leads to 2 main issues...taxes(short term and long term, over 1 year holding), and production of K-1's. The tax rates CAN be as high as 35% for some when classified as a "collectible"...OUCH
The profits in the miners make taxes tolerable..my physical bullion when sold I'm not quite sure where I'll sell it..like Livermore, best kept quiet.

@yup, Thank you. Don't plan on using the MA strickly, will just be one item in my assessment. Imagine if Jesse would have had this technology in his day for record keeping!

@mycoguy Thanks. Year before last, the lady from HR Block said not to worry about the K1 form, so we haven't. Guess better start paying attention to it now that the IRA is going up instead of down or just treading water. I know I read in the prospectus for PSLV it said a 15% rate for US, but the underwriters fee is like .45/$10. Seems like a a lot on top of the storage fee. And not really sure how many stocks it takes to make 1 ounce of silver. Was looking at SIVR, but not sure of the tax here on profits from it.

Yea..hopefully these miners will do so well, paying some tax will just be a minor nuisance!

yup, Does silver and gold go to the moon with Trump or Hillary?