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 Replies: 5,643 / Views: 460,116 |
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Pillar of the Community
 United States
3789 Posts |
heads up,,, at the 52 highs, gold miners starting to show up.
close to 52 highs,coming up is RIC
making fresh 52 highs... GORO.
takeaway- money is again starting to flow back into the miners, as we saw last time, and as it always does, little by little more and more miners start to show up on the 52 highs list.
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Valued Member
United States
245 Posts |
BIG day for everything...metals are way up and so are the markets. One of my better days for my overall portfolio in a long while...:)
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Pillar of the Community
United States
3789 Posts |
wanted to update this-
so looking at the internals, we have the following names 3% below 52 highs as of today-
RGLD
RIC
AKG
in the coming weeks, we should start to see more gold miners and silver miners hitting the 52 highs or getting very close and setting up to hit 52 highs.
You might recall when this was happening earlier in the year, the list started out with a few names here and there and steadily grew as the weeks went by.
I expect the same thing to happen again until the next time period silver and gold hit the brakes, which again is normal.
As I have been saying all along, this uptrend has a lot of overhead resistance. There will be dips, there will be time periods were these stocks, these sectors go dormant and do nothing. To repeat- this is why we want to buy right and sit tight, to ride out these wild moves.
If you are sitting in miners and are underwater this is not the time to dump them for fear that you wont be able to get out.
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Pillar of the Community
United States
3789 Posts |
Just a thought here...
following up from the other day were I mentioned a few names that were either making fresh 52 highs or close to them, personally, I am not a dip buyer, however, as I have said, in an uptrend, the uptrend is very kind on the dip buyer and I would say around here is where you would want to start to nibble on these miners that been knocked down.
Some suggested names that have shown good ER reports and also market leading names when the market is up include-
SLW
PAAS
SBGL
FNV
RGLD
ABX
NEM
and of course you have the ETFs-
GOEX (replaces GLDX)
SIL
GDX
GDXJ
the famous ETFs that hold the metal, SLV and GLD
ideally, a good portfolio to enjoy this uptrend would include a nice mix of sector ETFs, gold/silver miners and then nibble a on little of the SLV and GLD to round things out.
just a thought...
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Pillar of the Community
United States
3789 Posts |
boring, boring, boring is how you could describe, at a glance, whats happening.
However, this "boring" range, such as is clearly defined in gold, is going to be explosive when it breaks, in which ever direction it goes so get ready for fire works.
after many months of consolidation, we are getting close to a resolution.
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Pillar of the Community
United States
1205 Posts |
Yea...it's pretty amazing how much money one can make...and, watch it dissapear....since I am not selling anything, all of this is a moot point...I have to admit, at the top, compared to now, my brain will say "why didn't you take profits"?....or, "why didn't you sell everything, and buy in later"....because, I've tried that, and, 99% of the time, I lose money....panic selling HAD to be eliminated, or, just get out of this completely. I chose to buy, and hold, come heck or high water. My "time frame" seems to be a bit off..I will admit, I have been hoping for an exit in 2018...now, I'd say, push that forward...how much time is unknown....
All I can say is, I am always optimistic, and, Gold and Silver have made a lot of surprises since last December, so, hoping for a turn-around soon.
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Pillar of the Community
United States
3789 Posts |
I look at this up trend thus far and in my opinion, it falls into the very ugly ugly uptrend. Not smooth at all, very deep retracements, (reminds me of trading cocoa) and then mulitple attempts to go higher that are snuffed out.
Again if you bought early in the trend you are ok. If you been buying late, you arent doing so well. Not too mention, there is TONS of overhead resistance, making silver/gold up trend not look pretty at all.
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Valued Member
Canada
192 Posts |
I wouldn't expect much smoothness for the next 6 weeks or more; I don't think I'm super-smart, but I also don't think I'm alone.
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Pillar of the Community
United States
1205 Posts |
I'm not expecting much until the 2nd week in Jan, after a possible rate hike in Dec...figuring, the charts may mimic themselves from last year...down for a few weeks, then UP last part of DEC, Jan, Feb, till a breather again..who knows...at least made progress today even with gold down, buyers showed up.
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Pillar of the Community
United States
3789 Posts |
The Federal Reserve, the presidential race, world events, whether the Kardashian sisters snubbed their brother Rob K because his girlfriend Blac Chyna has a bigger rear than Kim, Brad and Angelina split, if the Cubs win the World Series and other events going on right now are simply noise when it comes to determining the situation with gold and silver.
What we can say for SURE with absolutely authority is that silver and gold are in up trends.
Give you an example- while everyone was running around with their heads cut off about the English voting to leave the EU, markets dumping etc, there were quite a few areas of the market that simply ripped HIGHER in the face of that.
Lets fast forward to right now. Despite the fact that the market has hit all time highs, then gone range bound and chopped around a lot, we do find within the market areas of strength. Bio tech stocks, some groups like recent IPO stocks have been ripping higher, despite all this volatility. Granted, some havent looked all that pretty but its not all dead out there, the market still has areas that are doing their own, despite what you might hear about how "oh this is going to doom things" or how "market is going to crash IF". its all noise.
SOMEONE in the market is picking up gold mining stocks, silver stocks. DOnt believe it? Take a look at GORO. Continues to grind towards 52 highs and at 52 highs. I wouldnt be surprised, as I said a few days again, in a little bit of time, little by little, more and more names are inching closer to 52 highs.
What is key again is to watch those levels. Where is gold and silver finding support? so far, every time gold and silver get to the lower end of the range, they bounce. Its incredible that despite probing those lower ends, they thus far have managed to hold.
Finally, go check out palladium, trying for 52 highs as well.
Remember, tune out the noise and focus on PRICE. Let it talk to you.
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Pillar of the Community
United States
1205 Posts |
Yea..WHO IS this "SDomebody"? Look at GORO...very last minute of AH....BOOM.....betcha a nickel, spot goes up close to 10 dollars thursday...for no basic reason....except....except...."Someone" knows ..."something"....I know, it's NEVER been proven....except the "spoofers", who have been getting caught left and right, and, pretty much have to figure out another way to make money, NOT involving multi-million dollar share trades/sells/shorts/puts.....most of the HUI big boys showed lots of AH activity this afternoon. When I see this, invariably, spot is up the following day, even if briefly.....especially when GLD has a sale of 121,235 shares at $126.22!5:05pm AH
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Pillar of the Community
United States
3789 Posts |
Gold, hanging on by a thread, once again. Do or die coming up. Breaking 1305 increases probabilities of a big drop in price.
Silver, pretty much the same thing, let us see if those 18.60s hold in the coming days.
I do feel, based on price, with all this chop and sideways we have seen for MONTHS now, a resolution is coming soon.
Continue to watch the price action for clues.
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Pillar of the Community
United States
3789 Posts |
Supposing you were a dip buyer and gold and silver turn around from these levels, a nice mix portfolio to make gains from the market would be-
GORO
RGLD
SSRI
SWC
this would give you a mix of gold miners and silver miners and also allow you to access the increases in palladium and platinum.
there are of course, many other great mining names. What I did was a take a sample of names that had good earnings reactions and current market stand outs. Ideally, you would want to add some sector ETFs also into the mix.
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Pillar of the Community
United States
1205 Posts |
tHANKS YUP!...Disruption of European Banking system, with tenacles reaching round the world...billions in panic selling...only 1 safe place to go....starts with a G and ends with a D. The fuse lit...explosion could be just hours away.Germany
Trading Hours 09:00 AM - 05:30 PM (+2 Hours GMT) 03:00 AM - 11:30 AM ET
Edited by ilikeikes
09/30/2016 01:26 am
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Valued Member
United States
154 Posts |
This could be the first domino that bursts the bubble. The day in metals and miners are starting off right  |
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Replies: 5,643 / Views: 460,116 |
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Posted 09/21/2016 7:20 pm
