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Topic: Where to now? (Read 659 times) previous topic - next topic

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Where to now?
I have re-positioned my holdings back to the way things were before I started messing around with my allocations.
Besides having less shares than I did before micro-management, I was having way too much stress and not doing the other things I should be focusing on.
Hopefully this gets me back to a place where I can go work, or be with my family and not worry about the market.
100% invested in companies i trust.
I will suffer through any drawdown or dips.
Yesterday was a good day.
Now we need some follow-through.
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Re: Where to now?
Reply #1
I have a bunch of chart layouts that I Haven't opened in over a week. I will just post the charts as they are.









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Re: Where to now?
Reply #2
Normally I do not have a problem coming up with a guess for direction. I haven't been posting much, hoping a break would shed some light.
The DXY hit 100.02 this should have really brought metals up last week, the rise in metals one day does not make up for the lack of gains during the DXY fall.
I don't Yahoo any more, as Yahoo finance really sucks. I did go to their home page this morning and noticed a lot of pro-gold articles, this is usually a bad sign.
I am thinking that this week will start off strong, fading out as the week progresses. This would fit the silver chart with the red and yellow lines hitting highs this week around 17.80. (3rd from the bottom in the series posted in the first post)
As long as 1220 holds on gold it should be fine. A break of 1205 could bring 1175 in a hurry.

DXY looks like it wants to break up above 100.30




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Re: Where to now?
Reply #3
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Re: Where to now?
Reply #4
Today, I added to my PVG and TAHO holdings after writing GDXJ options again. I think PVG must be doing well with the dry commissioning given chart reactions lately and should start the wet next month. Commercial production will be declared soon after and the stock could easily see north of $15 share price with the declaration. TAHO is near a 52 week low ($7.11) and does not deserve the beating other than a while ago there was some accusations of questionable trading practices or something similar. That will sort itself and the stock move north of $10 again and the 3% dividend is nice but not a decision driver.

Re: Where to now?
Reply #5




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Re: Where to now?
Reply #6
If gold fails to break 1252, then 1237 could be a target. break 52 and we get 1262.

Silver needs to hold 17.50

Not that we can tell anything from this, until a break of 99.60 or 99.90

This needs to get above 23.50 and stay there.

I would like to see this break 38 and go to 39.50

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  • Nikko
  • [*][*][*][*][*]
Re: Where to now?
Reply #7
At this point its 50/50 to where we are heading...If gold can break 1265 level we can go to 1300 and i doubt miners will not follow.
On the downside, if we fail, miners can break the Jan lows and then who knows how far down we can fall...20-30% is my guess.
On another note USA looks like its headed to 3.00...any thoughts on this technically Ed?

Re: Where to now?
Reply #8
Very slow play through recently with gold being the only upside to all at this time. I believe what gold does is most crucial at this time. I couldn't agree more that it's 50/50 and I see the same numbers as Ed is seeing. Silver has just converged on its 5 and 15 day averages and is the last to do so. Likely to see some direction pointers develop soon IMO. Here's a workup on gold. Watching with a focus on gold for now.


Re: Where to now?
Reply #9


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Re: Where to now?
Reply #10
Just sitting on the major support, looks like a bull trap almost island reversal, then a retest of the break-down 99.75



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Re: Where to now?
Reply #11

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Re: Where to now?
Reply #12
Comment from Kitco yesterday, it is encouraging for longs:

Guest(s): Todd 'Bubba' Horwitz Chief Market Strategist, BubbaTrading.com


Gold and silver closed in the green for another consecutive trading day and according to veteran trader Todd 'Bubba' Horwitz, the bottom's in, especially for silver. 'I think we're going to see a real nice pop up for silver in the next few days based on what's going on around the globe,' he told Kitco News Tuesday. 'You can be comfortable and safe buying here...these bear markets may be over in the metals.' July silver futures have closed higher for their fifth consecutive trading day, settling at $16.747 an ounce. Meanwhile, June gold clocked in a fourth consecutive positive daily close, settling the day at $1,236 an ounce.

Re: Where to now?
Reply #13
Today, I added to my PVG and TAHO holdings after writing GDXJ options again. I think PVG must be doing well with the dry commissioning given chart reactions lately and should start the wet next month. Commercial production will be declared soon after and the stock could easily see north of $15 share price with the declaration. TAHO is near a 52 week low ($7.11) and does not deserve the beating other than a while ago there was some accusations of questionable trading practices or something similar. That will sort itself and the stock move north of $10 again and the 3% dividend is nice but not a decision driver.

At Seeking Alpha, there is an article on PVG that is very good. A key quote from the report,, "Finally, ROTH Capital Partners analyst Joe Reagor believes that:

    "Brucejack will begin initial gold production in the coming weeks and that it will steadily increase production over the remainder of 2017." He also explains that the company will "avoid running high value ore through the mill until it optimizes recoveries and throughput... estimating production of 41,000, 72,000, and 117,000 ounces of gold over the three remaining quarters of 2017, respectively." He stated that the firm's "valuation for PVG is USD$3.0 B or USD$15.69 per fully diluted share.

Pretium's share price was $9.09 at the close of May 19th 2017 which I think is a steal. Considering that starting now it will literally become a cash machine as it has some of the lowest all-in sustaining cash cost per oz in the industry at $446 per oz of gold."

It is an encouraging article for longs and in another location the author points out an investor at today's prices (just north of $9.00) is buying gold in the ground for $33.33 per ounce. Link to the full article:

https://seekingalpha.com/article/4075568-pretium-nearing-first-gold-pour-giant-brucejack-project

Re: Where to now?
Reply #14


]
I found this on an old layout.










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