Balancing the technical vs fundamental outlook for gold and silver
Steve Penny, Publisher of the Silver Chartist Report joins me for a discussion on what technicals and fundamentals are showing for gold’s future moves. While the charts continue to look bad for gold Steve still has a longer term bullish outlook for the PMs. We also discuss the sector of gold companies that Steve sees as the best value right now. Steve shares four strategies of entering the market even during a downtrend.
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Chen Lin:
I am taking your rhetorical statement and throwing out the following since the list was laying next to my screen. Chen Lin had the following miners present at the MIF: Kodiak Copper, SKRR Exploration, Labrador Gold, Baru Gold, Alexco, and Nulegacy. Don’t know whether Chen Lin was buying, but he had them present. 🙂
I am getting a sense that the chart readers Matt, Glen, and Larry are still remaining doubters as to whether this is the gold and silver breakout or just a short term head fake. I didn’t include Doc, his position is clear. DT
NUGT price oscillator is around 52 level…I wait how the candles look when price seeks support there…..Barring some huge pile on break out continuation tommorrow DT….
Next weeks should show, if Monday with $1680 was the bottom
personally when I look at gold charts it looks like institutions buy when price gets above the 9 ema rather than 200 ema and w a swing low and macd cross….look where historic gaps occur……my 2 cents
unigold
https://www.youtube.com/watch?v=W7SHvijy5EY
Sprott owns a chunk.
Nibbled on a little bit of EQX today—it tasted pretty good.
How is Big AL ? Doc ?
Big Al is just fine, thank you Franky!
Looks like franky got an expert opinion.
Nice ! You and the lady ok !
GDX…This sort of symmetry usually/frequently works…The GDX daily 9ema is around 31.62 AND this happens to be an exact .618 retracement of this initial A to B move up…..Hence, an ideal place for a C point to form on the way to D up…Just saying…I have often seen this pattern…no guarantees for sure…lmao🔊😜🤡🕶
.618 is actually 61.52………
done….31.52
https://www.youtube.com/watch?v=0XfDVz6fAbA
LONCF has a number of joint ventures with Barrick.
Golden Predator:
https://www.youtube.com/watch?v=DDHh-UYvNyo
Yukon/Nevada
Interesting!! Thanks CSF.
Good thoughts today from the Steve Penny @SilverChartist, and I agree that many of the Sr. Producers and Royalty companies have led the way down the last 7 months, when they normally are more resilient. This just shows how the larger generalist investors pulled out of the PMs many months ago, and how out of favor the sector has been since last summer.
Having said that, this situation has created a unique environment where a lot of quality senior producers and the larger royalty companies have been at attractive values for investors to accumulate them. I did my fair share of buying the last few weeks, and while the juniors will still outperform the seniors in a bull market, there are just some solid quality companies that have been on the clearance rack, and will be slow and steady growth for the longer term.
Hey Ex, It’s always worth reading your posts, lots of useful information. I have been busy stacking juniors, I can’t recall having this much fun in a long time, FUN WOW! DT
Thanks DT, and right back atcha sir. I value your posts as well. Yes, keep stacking juniors.
Finally remembered to add back Bayhorse.
Nice move David. I had trimmed my Bayhorse position back on Feb 25th, but saw pricing moving the PMs today and did consider adding some back to that position to beef it up a bit more. There were just so many quality names on sale the last few weeks that I’ve been spreading around the adding to many positions.
It was more an as when it doesn’t move again I will probably sell it again. There are so many choices if things go up. If we continue to channel then they all look alike. Today was good.
“more an after thought” … somehow after thought disappeared.
Nice afterthought.
I think long term royalties and seniors are a safe bet at these prices
Even if we see another sell-off
Agreed Thomas.
Sector Saturation: https://tinyurl.com/h3sa9xb7
Simplified. Concentration on current edges only.
Back in the low side of my 8 month channel. I hope that is good.
Tonight looks negative, so this week is doing the alternating day thing like most other weeks… so far.
Geeze, I’m behind the curve in setting aside tax $$. Hope this rally has some legs. (Nice problem to have)
I am not doing anything until the House vote on the stimulus changes are over. Seems to be a fight over the direction of the miners.
Dow at intraday high…🤥
Picked up some more Group Ten just in case they treat stimulus good for gold. However, the last time I checked the”Good For Gold” site it showed “under construction”. 🤔
I don’t know what Chin Lin is buying today, but Bonzo bought GLDXF, LOMLF, TLRS, and GOTRF today and eagerly awaits the drilling season for bonanza discoveries this summer.
What are you guys buying?