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Topic: Where to now? (Read 545 times) previous topic - next topic

0 Members and 1 Guest are viewing this topic.
  • Nikko
  • [*][*][*][*][*]
Re: Where to now?
Reply #30
I wold still rec buying SSRM today or at any point as its dirt cheap.
My thoughts on gold is we will eventually break 1300 and head higher...very shortly
On silver it remains my worst investment and I now realize that silver is not rap money...only gold is...my cost is roughly 21 bucks and hopefully at some point I can get to break even or even squeak out some money in it...its highly speculative and unlike gold is not bought as money by countries.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Where to now?
Reply #31
I wold still rec buying SSRM today or at any point as its dirt cheap.
My thoughts on gold is we will eventually break 1300 and head higher...very shortly
On silver it remains my worst investment and I now realize that silver is not rap money...only gold is...my cost is roughly 21 bucks and hopefully at some point I can get to break even or even squeak out some money in it...its highly speculative and unlike gold is not bought as money by countries.
As the economy goes south so goes the industrial uses for silver.

I still consider silver as money when the dollar blows up. Hell, food might be the better currency in the long run.

In Germany after the war, I have read that 1 gold coin could by a city block. The currency was trash so they used the next best thing.

  • Erich
  • [*][*][*][*]
Re: Where to now?
Reply #32
I wold still rec buying SSRM today or at any point as its dirt cheap.
My thoughts on gold is we will eventually break 1300 and head higher...very shortly
On silver it remains my worst investment and I now realize that silver is not rap money...only gold is...my cost is roughly 21 bucks and hopefully at some point I can get to break even or even squeak out some money in it...its highly speculative and unlike gold is not bought as money by countries.
Tried for some more SSRM at the open but they jumped it up to quickly after stealing everyone's stops. Long PAAS SSRM GFI 33% CASH.  ER

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Where to now?
Reply #33
I wold still rec buying SSRM today or at any point as its dirt cheap.
My thoughts on gold is we will eventually break 1300 and head higher...very shortly
On silver it remains my worst investment and I now realize that silver is not rap money...only gold is...my cost is roughly 21 bucks and hopefully at some point I can get to break even or even squeak out some money in it...its highly speculative and unlike gold is not bought as money by countries.
Tried for some more SSRM at the open but they jumped it up to quickly after stealing everyone's stops. Long PAAS SSRM GFI 33% CASH.  ER
Don't you hate that when it happens?

Re: Where to now?
Reply #34
A good sign for a reversal to gold comes with KGC moving positive. Not by much, but the spike development looks good. Here's hoping.

Re: Where to now?
Reply #35
I'm not buying anything at this point.

I did, I closed my 1 $33.50 NUGT weekly call for 15 cents for a $77.00 gain over 5 days. I can't help but laugh at that!

Closed out my long options throughout today all for small gains, thinking that we should get a mild reversal to the upside. The exception is I am still holding PVG call options and GDXJ $33.00 puts.

Re: Where to now?
Reply #36
For Entertainment Purposes Only.

Re: Where to now?
Reply #37
I'm not buying anything at this point.

I did, I closed my 1 $33.50 NUGT weekly call for 15 cents for a $77.00 gain over 5 days. I can't help but laugh at that!

Closed out my long options throughout today all for small gains, thinking that we should get a mild reversal to the upside. The exception is I am still holding PVG call options and GDXJ $33.00 puts.

Friday, I rolled my GDXJ $33.00 puts to $33.50 for a decent gain and I got the shares put to me. Today, I wrote $33.50 calls on that position and on another, I wrote Sept1 $36 GDXJ calls. I have also written a $33.50 weekly call on my 100 shares of NUGT for my having fun contract.

Watching NASA coverage of the eclipse. It is fun and brings back memories of the full eclipse I experienced in Luanda, Angola 15 or 20 years ago.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Where to now?
Reply #38
Quote
Watching NASA coverage of the eclipse. It is fun and brings back memories of the full eclipse I experienced in Luanda, Angola 15 or 20 years ago.

Had my telescope out for this one. Got around 80% here.

Re: Where to now?
Reply #39
"I can see gold going through the resistance."

I can too, but here is a credible article on COT and bank participation rate that suggests the opposite may occur:

https://www.tfmetalsreport.com/blog/8494/same-it-ever-was

I want to see a couple more TA signals violated before going all in to hopefully squelch some of the manipulation with gold old fashion honest price determination. We do not have that yet.

As posted elsewhere, we did not get the desired violations of TA data to validate continuation of a secular up move in PM's, particularly gold. The link below is another article suggesting COT data is bear oriented but the last paragraph quoted below, is revealing about the difference between paper and physical PM's

"Another point that bears repeating is the temporary nature of this indicator. Eventually, fundamentals in the form of surging demand for physical precious metals will swamp the paper market. Gold and silver will soar regardless of which futures players are long or short. "

link to article:

https://dollarcollapse.com/precious-metals/lightening-fast-cot-reversal-now-bearish-gold-silver/


Re: Where to now?
Reply #40
KGC, MUX, PAAS, SSRM, all closed out nicely at the end of day. USAS (tailed up, but did not end in a strong position). Gold has been applying pressure to its upper line and USDJPY holding at its bottom line. The only thing I can see here is the individual stock actions. So far their behavior would suggest an up day pending for Tuesday, but it is clearly 50/50 between the yen and gold, however gold has managed to push forward somewhat, but that can indicate a top as well if momentum doesn't kick in here.


How we are looking, make or break time.