Friday’s Technicals from Rick
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I second that Glen.
I’m still calling for 1277/1280 first target.. 100 % hui gap will get filled.
I’m playing the contrarian side, still many bugs need to be washed out. Sorry for harsh words.
Some late-comers might need washing out, but those who bought in 2011 are long gone in my opinion. In other words, those who could be shaken out, ARE out.
I agree with Rick about gold today —no big deal.
I managed to nail the lows (so far) on a bunch SLW calls today and the bids are up about 10% from my entries. Also bought more miners and warrants.
Hey Matt,
Hats off to you if your making money… How you juggle calls, warrants and stocks to top it off is amazing lol. All this while the market is up and down in a nano second.
You gotta be running a time machine or one of those algorithm jigga ma jiggies.
Anyways making money is what it’s all about.
Sometimes I do wish I had at least two more arms and eyes. On days like today, I always feel like I’m missing something.
My whole mining and metals portfolio just flipped to green. The action is not bearish.
Lets see what happens at the close.. If gold closes lower then last weeks close this thing is headead south matt. Watch the trap and be ready to jump off.
Matt many indicators are starting to show signs of overbought conditions. The volume is still way to low on average. And most miners although green today by a few points from yesterday are still at levels of 2008 crash. The action is more bearish thank i could imagine. It all depends how you read it. I see it differently then you. I just don’t want you to hurt your investments. Be cautious amigo.
I have us headed down like doc in the next two/three weeks and then we may possibly have our low. Final low not bo poly low.
Remember this post.. I will not post any further from here until im ready to go in.
Patience, caution and patience.
Yes, Glenfidish, the miners are still at ’08 levels, this (along with the DETAILS) is extremely positive to this contrarian. I backed-up the truck on silver and the miners in ’08-’09 and have been doing so selectively in this bear market. For example, I mentioned here a year ago that I liked CEM.V at .05; today it is .235 and was higher recently.
As expected, 2014 has been superb for me.
Washed out ……………and rinsed……………clean as a whistle………….those still holding gold are in it to win………………….gold will be the last thing sold.
I AGREE WITH MATTHEW……………
j are you in the miners or buy bullion?
Glenfidish,……… Both….. phyz…….gold, silver and platinum. bullion, and graded coins. (of which I have owned for a number of years, some over 50 yrs.) . I do not own single stocks of miners. Mining stocks , are owned thru. funds., and so far, I have not purchased single miners jr. or sr. nor explorers…., I mentioned that to Matthew several years ago……..I have specialized in the other things and investments.
My experience with miners, is limited, but, my experience in silver and gold go way back.
There is no technical left anymore. You either have to believe in manipulation or get lost. If you say some banker dumps billion dollar contract beause he is detarmined by Technical fate somehow, it is to put cart before the horse. He can choose anything he likes. Maybe a bad night sleep. I think his wife has more relevance then technicals.
Otherwise people has to be able tell me what a banker will do tomorrow based on today’s technicals.
Silver bugs better start praying to their Deity Of Choice that silver holds $19.50, or it’s “lights out!” all the way to $18.73 and the June low. ( and it’ll probably take gold along for the ride this time, not vice-versa )
I am not praying but I am hoping it happens. Otherwise my cash is useless.
im 75% certain silver breaks below that 19.50
If it does, I doubt that the miners will confirm the move.
You’re noticing that, too? All my favourite miners are putting up some gutsy goal-line stands here.
Apparently I’m not the only one buying today. No guts, no glory… BUT, no brains no money. 😉
Im not pulling these numbers out of my arse.. It’s based on “The Gut” and forces more powerful then us. I think Gary talks about those forces every morning on a bad day.
Has any body been checking out COIN SHOPS LATELY………….seems to be a shortage of GOLD in my location……….
How about silver bars? I haven’t checked it for a while. I am trying to accumulate silver trust shares and exchange for silver bars when the trust has a premium instead of discount.
Lawrence….did not see any large bars……
100 oz bars for example. It is the most popular bar. It is also what I like most. Where are you?
INDIANAPOLIS……….
Population approx. 3 million ……….
It is a large enough city.
J ootb – Yes, 1oz gold and silver Britannias appear to be running low to empty over here too.
WAKE UP IRISH………tell him to go check some bars…..I mean silver bars…….
J nice treasure box you have. Im sure well deserved.
Al, what happened to not going below 1300?
Rick appreciate your targets and hidden pivots but I leave that for the crafty like yourself.
Rick what a classic ” short that little sun of a xxxxx!