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Taking profits here, short term top is in @ $1350 jmo. I think we see a pullback before $1500's later this year and into next. Will look to re-accumulate calls in SLW, GG, AUY, GLD and GDX @ $1300ish...Hell of a ride, congrats to those who joined me
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Gold $1300 target hit today...Sitting right at the intersection of the golden cross on the chart. Looking for one more stop hunt pullback sub $1300 to get long GLD, GDX and GG calls for the ride to $1500+...jmo
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Stealthy option flow in GDXJ & GDX over the last couple of weeks...I'm long my list of usual suspects with 2018 strikes but if players sweep up weakness or roll up current bets in these etfs, it's time to get long size here. jmo
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Does anybody even read these boards anymore? Anyways, not much for option flow but Dimon put a beat down on BTC yesterday, down $475 today. Additionally, some nice chart set ups on the miners today, loaded WPM Calls off the 200 MA test and bounce. PAAS, heavyweight with GDXJ is getting close too, golden cross in the next week or so. jmo
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I still lurk once a month or so... Holding HL, KGC, MUX, and SBGL, hoping that gold and silver will do something besides move sideways. Watching GORO, CDE, ABX and seriously considering a position in GG. Good Luck and always do your own DD.
-------------------- One is never completely useless. One can always serve as a bad example.
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OK still holding GG, waiting (forever) for the rally over 1350 in gold and $20 in silver if it ever comes... Nice rally today, seems like we are right on the edge of a big move, but where does it go from here? Also still holding FSM, HL, MUX, KGC and SBGL. If gold and silver prices rally further from here, I will exit KGC and SBGL, and reduce my positions in FSM and HL.
-------------------- One is never completely useless. One can always serve as a bad example.
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Gold vs the Dollar... Will the dollar rally further? If it does, will it drive gold prices lower? The suspense is killing me. My gut says with fiat being printed like mad and debt at huge levels, markets at record highs, gold prices are ultimately going up. Economy seems ok for the moment, but for how long?
Geopolitics play a factor in prices; just look around, seems bullish for Gold/Silver... Iran deal coming up, North Korea, South Korea, Marilyn Monroe...
If inflation rears it's ugly head, gold should go up too, along with other commodities. Oil, etc.
Upside seems greater than downside, so I'm still holding all my mining plays and picked up an oil play that relates to NG as well since I've had some success with those types of plays in the past.
Based on my entry points with most my mining stocks, I should be holding and should have even sold some to protect my principal, but against my better judgement I stayed put and prices seem to have leveled off for the short term. Going to be watching them like a hawk now.
Long term Gold and Silver charts look bullish, and IMO silver looks much better than gold. Will silver rally first and drag gold up with it, or will the dollar continue it's reversal of late, kill any rally, and drive gold to new lows? What does anyone else think?
Medium term they look bullish with silver looking the better than gold...
Short term, they seem at critical levels where, absent some other catalyst, they will turn lower, forcing gold below important support levels. Which of these factors will drive the price the most?
Sit and wait some more, my bet is made, where does the ball stop? Time (and my wallet) will tell if holding at 1300 was the right move. GL and DYODD
-------------------- One is never completely useless. One can always serve as a bad example.
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Down it went, below 1300 to about 1285, trending higher from there. Mining stocks seem to be bottomed out, even though gold is trading lower they didn't go down much. Still holding all my plays except SBGL, lost on that one. Everything else is going up or going sideways. The oil/NG play, HCLP worked out nicely. PM's are pretty crazy right now, Platinum worth less per/oz than Gold, and Silver doing better from a technical standpoint and less volatile than Gold. Feds minutes today suggest raise in June, but they are willing to let inflation go higher than 2%. Charts since lows around 1285 show uptrend, could just be a bounce before another selloff, but I'm still bullish on gold/silver long term, bearish on USD. Geopolitics don't seem to be doing much to prices for some reason. NK deal is in suspense, huge sanctions on Iran, who knows what's next.
-------------------- One is never completely useless. One can always serve as a bad example.
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Well, guess it's pretty clear which way the price went. Interestingly, my gold stocks didn't really go down much they seem to be at the bottom.
Still holding GG, FSM, HL, MUX, and KGC. In retrospect I should have taken a small loss on KGC, but it seems to have bottomed for the time being so just gonna hold the bag on this one unless it stops dropping again. MUX and GG are up a bit, and FSM is still bullish, regardless of what gold prices do, might take some more profits off the table on that one soon if it rallies a bit more. Wish I could remember the name of the mining CEO that said this stock "was a steal" at it's current price shortly before I bought it. He was right and I cant remember the other two picks he mentioned.
Silver chart still looks better long term than gold, which also looks bullish long term. Short and Mid term is clearly bearish but my gut still tells me there is a million reasons to hold gold and keep a bullish sentiment long term. Too many reasons not to.
Tariffs on China could go into play tonight, and seems like it should be bullish for gold tomorrow. With the trade war about to kick off, I think shorts won't want to be on the wrong side over the weekend and gold prices will close a few dollars above open.
Is this a dead cat bounce for gold prices, and we are going lower still, or is this the higher low on a bullish long term chart? GL and do your own DD
-------------------- One is never completely useless. One can always serve as a bad example.
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Well, did I pay through the nose by holding in July. Lost a couple hundred bucks, but oh well, it was money I could afford to lose anyway. That's what I get for listening to my gut instead of my head. Worst summer for gold possible. Hoping the bottom is 1200 but who knows. Silver? Are you even alive anymore? Every dog has it's day, just wondering when that day will be. Got my eye on GSV and EMRRF, they both have some great potential with good looking grades. Should have bought ABX at 11.10 when the CEO dumped $25 mil of his own money in after the merger, but was too gun shy after the beating I took this summer... GL everyone and do your own DD.
-------------------- One is never completely useless. One can always serve as a bad example.
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Ok. The 1200 level held, and gold is moving back up towards 1300 and silver back above 15$. Took a position in GSV around 1.20/shr but it isn't doing much. EMRRF is still on my watch list but took a huge hit when drill results didn't match the surface finds. Took a position in ABX, now trading as GOLD after the merger with Randgold. I doubled my positions in GG, HL, FSM and MUX. Still holding KGC at a small loss, but will get rid of it when I hit close break even. FSM was one of two silver miners that showed Q3 profits with silver at 14/oz. I'll probably load up some more mining stocks if gold prices can stay above 1300, and sell a bunch if it doesn't. Short, Medium, and Long Term charts all look bullish, but gold feels overbought and 1300 is going to be a tough resistance to get through. Looking at a yearly chart, gold seems to have put in a higher low around 1200, it just needs that higher high above 1350 to confirm my long term opinion that gold is going back towards 2000/oz. GL and do your own DD.
-------------------- One is never completely useless. One can always serve as a bad example.
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Sideways action in prices the last week or two, as gold is stuck between 1300s and 1320s, charts do look bullish, both short and long term imo. Still holding GSV, GOLD, HL, FSM, MUX and KGC. Still looking to lighten or get rid of my position in KGC when the price is right, earnings are on thursday so will reassess after. Sold ~25% of GG core position a while back for a small profit as gold hit 1324. Might take another position after the merger is approved. GG and GOLD have earnings tomorrow. Took a small position in EQXFF. This company is chaired by Ross Beaty of Pan-American silver and I think his game plan for success with this one is pure genius. However, this is a spec play similar to MUX imo.
Long term fundamentals for both gold and silver remain positive and short and long term charts are still bullish imo. Trade deal w china and gov shutdown will decide dollar direction, and ill be watching developments in both closely. However, I still am of the opinion that gold will test and break above 1350 this year, but more likely in the next 2 quarters. GL DYODD
-------------------- One is never completely useless. One can always serve as a bad example.
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Well, gold is above 1400, as I predicted. Still holding GSV, GOLD, HL, FSM, MUX, KGC, NEM and EQFXX. I added some KL a few months ago at $33 and change and then sold 25% when it hit $45. I'll be holding KL for a very long time, as it is one of the best gold mining companies out there IMO. Also sold 25% of NEW and GOLD. I'm letting the rest ride until gold hits 1600+, which I am convinced gold will make a run for in the new 2 quarters. Silver is still lagging, but should explode if gold breaks 1450. It's not too late to jump on the silver train IMO, but GL and do your own DD.
-------------------- One is never completely useless. One can always serve as a bad example.
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Gold closing in on 1600. Silver touched 18.50. Still holding KL, GOLD, NEM, HL, FSM, MUX, KGC, GSV. Sold 25% of EQFXX and picked up shares of USAS and KOOYF. STILL waiting for silver to catch up with gold. Wish I had grabbed some platinum at 800. GLTA, hope I'm not the only one here making money on the metals.
[ August 29, 2019, 00:58: Message edited by: NR ]
-------------------- One is never completely useless. One can always serve as a bad example.
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Gold going sideways for some time now... Bouncing between ~1480 and ~1510. Silver between ~17 and ~18. Sold 25% of KL, GOLD, and NEM. Major miners have been moving up, but Jr's still lagging. Sold half of my KGC and bought more EQX. Still holding HL, FSM, MUX, USAS, GSV and KOOYF. Picked up some shares of GSFXX and WLBMF, then quickly sold 25% of both for a small profit. Also tried a quick flip of SLV yesterday, as gold and silver prices usually have a huge range on a FED decision day. It didn't work out as planned, so sold ~90% of the initial position for a wash, and kept a tiny bit as I'm still bullish on PMs. Got my eyes on PPLT, and I may pick up even more EQX, as they had a fantastic 3Q, and have quite a few possible catalysts in 4Q and also in Q1&2 of next year. The company chairman, Ross Beaty is known as "The Broken Slot Machine", and it looks like he may very will live up to his nickname with Equinox Gold. GLTA and DYODD.
-------------------- One is never completely useless. One can always serve as a bad example.
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Well here we are, a brand new year, and gold has FINALLY broken through 1600 in intraday trading and silver is above 18.50. Gold has hit my medium term target, so it was time to take some money off the table.
Here is a quick update of my long positions.
I doubled my KL position after the price dip when it bid for Detour, then sold 25% today when the price hit 47 for a nice little flip. I sold the rest of my NEM shares at $39, though with the current price sitting at about 44, I realized I should have at least held on to a few of them. I haven't changed my positing in GOLD or KGC. I sold 25% of second position in EQX after the NYSE listing and proposed merger with LMCNF. EQX remains my largest position in any stock. Still (bag) holding HL, though I will shed some shares once it gets closer to my lowest entry point. HL has finally resolved the strike at Lucky Friday, so it should start moving up over the next few months as production moves back towards pre-strike levels. Same goes for MUX, holding at a slight loss, but if gold prices keep moving up and share prices follow, I'll lower my position in this stock as well. I still believe in the company long term. Holding USAS at a slight loss, and same with GSV. I sold 25% of KOOYF. I sold 50% of GSFXX for a slight profit and sold 25% more of WLBMF after it's last drill results. Still holding my SLV at a slight gain, but I'm not sure why Silver isn't moving up as hard as gold. I've also added two new stocks since Oct. RNKLF, and TGCDF. I've already sold 25% of both of those stocks for a slight gain, but I'll look to sell most of TGCDF as the price continues to go up because I don't really like the jurisdiction of it's assets. I'm holding it with a tight stop.
I have a few more I'm looking at, but still doing DD on them. I hope everyone is doing well with their trades! GLTA
-------------------- One is never completely useless. One can always serve as a bad example.
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Buffett just took a stake in Barrick with gold at all time highs. I'm up 35% this year and I believe gold is going higher and silver will follow. GLTA
-------------------- One is never completely useless. One can always serve as a bad example.
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