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Topic: July (XAG, XAU, GDX, GDXJ & USDJPY) (Read 1190 times) previous topic - next topic

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  • CLARKBAR
  • [*][*][*]
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #60
As likely an outcome development as any I've seen. Entre' Vous~!!

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #61
I bailed on my TAHO after reading an article at SRSRocco.com filling in the blanks on management shenanigans. Bottom line as Nikko says, good management is required and this group seems to be very bad. Now the barristers that can not make a living any other way are filing class action lawsuits; what a scam, stockholders essentially suing themselves. Used the bulk of the proceeds to cover AG $8.50 July 21 puts for a nickel, not much, but I want access to the cash in case we get a big transitory drop on news. Bought a little CDE and GGTCF also.

I do not know what was going through my mind when I wrote my trades in this post. I actually sold $8 July CDE puts for a nickel with the trade secured by the TAHO proceeds. I do have $8.50 July 21 covered calls written on my AG holding. It is all part of the strategy to use option income to bolster share count.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #62
Based on the principal that price action plays to a specific slope during a phase. As one can see, the Yen is still quite inside it's play range, but inside downward pressure levels at this time. It looks like we need a drop below 113.06 . Values are provided for Monday and Tuesday as well. Bottom line; the Yen needs to drop near to it's 40 DMA, until then I think it is likely to be very troublesome. GL.

  • ken
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  • Global Moderator
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #63
Well you got that drop today.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #64
Yep, but I'm not seeing follow through for the spike in gold at this time. Looking like the Yen has paused in the drop. As long as the Yen trails down along its 10 DMA we should continue to fair well in gold.... WooHoo! (Hopefully & likely).

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #65
Well you got that drop today.

I find following this data very confusing because it is stated we got the drop today, but JPY is in the denominator so it actually rose when compared to the dollar

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #66
Well you got that drop today.

I find following this data very confusing because it is stated we got the drop today, but JPY is in the denominator so it actually rose when compared to the dollar
I had to go and read again how this works. I suppose you are right. It now takes less yen to purchase a U.S. dollar, so it has dropped and strengthened.... right? I just follow the chart. Works for me.

  • ken
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  • Global Moderator
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #67

  • edthelorax
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  • Administrator
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #68
Great chart Ken. filling out perfectly. Kind of looks like the USD is heading lower, this will mean higher prices down the line.
For Entertainment Purposes Only.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #69
Great chart Ken. filling out perfectly. Kind of looks like the USD is heading lower, this will mean higher prices down the line.
I wouldn't go all in yet. Like you say, its in its infancy. I has bought AG and SSRI monday, then they plunged and hit the stop loss. I wish I had set it a penny lower.....   >:(

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #70
Great chart Ken. filling out perfectly. Kind of looks like the USD is heading lower, this will mean higher prices down the line.
I wouldn't go all in yet. Like you say, its in its infancy. I has bought AG and SSRI monday, then they plunged and hit the stop loss. I wish I had set it a penny lower.....  >:(
I'm not seeing tremendous performance here today thus far. I was getting concerned with yesterday's performance, but I've stayed with what I've been seeing. Bought in KGC at 3.97 and a little too early. I'm not really charting it since I believe it's performance will be solely based on gold's performance which I will focus on. I think we are safe for a time now with the bottom drop in the yen. I agree with Ed's observation of your chart Ken and the benefits it could mean for this phase, not that I do anything with the DXY.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #71
Looking at the 2 hour chart seems to be the best way to buy low.....

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #72
Looking at the 2 hour chart seems to be the best way to buy low.....
I looked at it in relation to KGC and it does spot the bottom with a two point touchdown to a trend line. I'll keep it in mind. Thanks.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #73
A good probability why performance is not as strong as it could be, we haven't achieved clear failure in the yen just yet.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #74
Looking like the Yen is breaking bottom with Gold, GDX and silver forming up some nice spiking. We'll see what we get. GL.