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Topic: July (XAG, XAU, GDX, GDXJ & USDJPY) (Read 1336 times) previous topic - next topic

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  • Nikko
  • [*][*][*][*][*]
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #45
Like I said AG MUST hold here or we can can see it way lower...so stops are necessary.
NUGT is simply a day trade at the moment.

  • Erich
  • [*][*][*][*]
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #46
Looks like they want to take gold below 1200. Its been a while since we have seen that. Panic selling may begin at that price, but the big players may be net buyers at that time. Wait and see mode.
GLTA ER
 

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #47
Gold looks really bad on the charts, both BB's are headed south, price action is headed south, MACD and RSI are strongly bearish and this reaction is on jobs report Friday, where the fundamental influence may dominate TA. If the green support line at $1192 is breached, we could be in for a serious correction, one that might be exacerbated by a little non free market selling by manipulators. I nearly doubled my TAHO position today and added a small amount of AG. I am thinking there could be a twofold reason for TAHO to raise, resolution of the mine concession court challenge and a PM bump. AG has been beaten like a rented mule; it should have a dead cat bounce at a minimum.



Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #48

  • Nikko
  • [*][*][*][*][*]
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #49
I held my AG but sold my NUGT for small loss
Added CDE at 7.89
Have 2 sizeable trading positions now with AG at 7.19 and CDE at 7.89...with stops about 4% lower
IMO this is a great trade at the moment as you define your loss and these can easily go 25-30% higher with a nice gold move.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #50
I held my AG but sold my NUGT for small loss
Added CDE at 7.89
Have 2 sizeable trading positions now with AG at 7.19 and CDE at 7.89...with stops about 4% lower
IMO this is a great trade at the moment as you define your loss and these can easily go 25-30% higher with a nice gold move.
I couldn't agree more. We're getting close to a break and the turnaround should be significant, really significant when it does. I also want to point out from my last post that from its beginning to now the Yen has tiered up a lot already, so two more tiers forward should have a lot of pressure against it. It's 50/50 with what happens, but the break could come any day IMO.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #51
I picked up some AG for 7.22 I see it closed a penny shy. Stop at 3%

I was looking at the dollar/yen chart and it looks like the right shoulder forming. Am I correct on this pattern formation?

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #52
Looking at the lower price end of my stocks for rebound potential I am solid on KGC, but iffy on NAK. Anybody want to throw in their thoughts about NAK? I know on the surface there's the Pebble Project and the company has had recent voting of leadership. It's seriously down, serious rebound potential????? KGC should do well and looks good for a rebound with Gold IMO.

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #53
NAK reminds me of MGN, They had an undevelopded project in Montana, finally after a couple decades Mines Management was bought out.  What a waste of time and capitol that trade was. Basically a lottery ticket IMO.
Technically, it does not look too good, but nothing will at open this morning.
For Entertainment Purposes Only.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #54
Looking at the lower price end of my stocks for rebound potential I am solid on KGC, but iffy on NAK. Anybody want to throw in their thoughts about NAK? I know on the surface there's the Pebble Project and the company has had recent voting of leadership. It's seriously down, serious rebound potential????? KGC should do well and looks good for a rebound with Gold IMO.



KGC is at an interesting juncture looking at the charts. Horizontal support resistance are sometimes more in the eye of the beholder as in this case, but it looks like the red support line has held, but the blue failed. Maybe the failure is a false penetration. I love that phrase, thanks Ed. The lower trend line is drawn from the January 2016 low and price action has tested it, but not dived below. BB seems to be coming off double pinch point suggesting we may be nearing a turn. MACD looks bad but the last day or so is showing a sign of changing for the better and that is supported by the STO chart at the bottom having just turned positive. Chart could be better as it could be in a confirmed bull orientation for all indicators, but it is not. The bias is positive I believe.
Fundamentally, the story is good with increases in production to come on line this year (showing up for essentially the entire second half) and next with cost controlled, even decreasing over that period. Some of the operating jurisdictions could be better, but the story is very good.  If it gets back to its 2008 high, a long term investor could reasonably expect a five plus fold return with some help from product prices.

NAK is a non starter for me. Their flagship proposed project requires eliminating or at the minimum drastically reworking a natural salmon rearing habitat in Alaska, something Alaskans will never tolerate and should they, the operating stipulations would be so harsh, economics would never pass muster. It got a big bounce with Trump's election, but to pun, Alaskans protecting salmon trumps the Trump administration.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #55
Thanks guys. One of the things I've noted in the MACD is that more times than not, solid advances are found following a double-dip and the phase appears at the very least to have underlying support for a short term venture providing safer ground. With gold likely to swing around and KGC following gold 99% of the time as I have read some where along the way I'm pretty sure KGC will fair well inside whatever window comes our way. Examine your MACD patterns and see if what I am saying holds true. GL all.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #56
There are some track line possibilities that the Yen could align with, however the best one I see is where the Yen is at. At the moment the Yen is weakening to its current line with Gold and Silver looking good today for bullish performance. Looking at the overall picture for the Yen I see what should be a two week window at which time it becomes questionable again. It's very, very possible for the Yen to time out and come back around to finish up with the onset of August. We'll see when we get there. GL.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #57
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.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #58
After the morning blast due to pressure from the Yen it's looking like the Yen is giving up at this point. We'll see if we can get a decent reversal going from here.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #59