Doc’s outlook for gold and silver
Doc joins me today for an update on his outlook for gold and silver. The little bounce Doc saw for gold in March was exactly that, a short lived bounce. We now discuss the possibly long term cup and handle formation. For silver we look at both lower and higher levels that could be tested.
Exceptional analysis Doc, precious metals have a lot of headwinds right now and with an stock equity correction it looks very likely would create even more selling pressure.
Novo at 0.50.
The big cup-and-handle points to $3,000+ gold:
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=11&mn=0&dy=0&id=p49373352253&a=715024205
Matthew, that’s an interesting chart—–I believe that in April we move down again to test that uptrend line you have drawn. Let’s hope that holds. Even if it doesn’t it’s not the end of this bull.
Doc, I agree, a new low would not mean the bull is over.
Interestingly, the resistance-turned-support line drawn across those two major highs is perfectly parallel to the support line drawn across the major lows that preceded each of those highs. More contact points are usually desired but the lines are so precisely parallel that I have to conclude that the big price channel is valid and, therefore, that the breakout from it was/is important. So, we should probably hope that any dips back into it are shallow and brief. The absolute max downside should probably not exceed the 61.8% Fibonacci retracement at 1581. The bigger picture 50% retracement just 14 lower at 1567 might be ok too but the related 61.8 retracement at 1444 would be bad news in my book from several angles.
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=7&mn=3&dy=0&id=p13361730940&a=716061806
A Fibonacci fan support to watch if gold plunges (at about 1658 next week and 1662 the following week):
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=4&mn=3&dy=0&id=p71163424936&a=712774405
And here’s a Fib fan that shows next support at about 1586 (next week). Notice that the dip below the 50% fan line earlier this month was very similar to the dip below the same line one year earlier (in terms of the depth achieved below the line).
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=5&mn=5&dy=0&id=p69647800606&a=640032776
1444 bad news?
Dont tell me Dent was right all along.
No, Dent will remain wrong all along. A drop to 1444 would cost us time and obviously send a lot of miners much lower but that’s all. Dent is beyond ridiculous.
Agreed that Dent is beyond ridiculous. He’s been calling for $500-$700 Gold for over 2 decades and has been out to lunch…
Doc. Thank you very much for the segment!!
Hi DOC….. You are barred from the KER , until you have good news for us………………..
Just kidding….LOL…….It’s always great hearing from you . You appear to have gotten everything right since i first listened to you many years ago. Please keep sharing your great calls with us….You keep us grounded medium , to long term……CHEERS.
Thank you, Irish. I attempt to let the charts do the talking. It can be kind of depressing since I would like to see these PMs skyrocket just as everyone else does. Also, if I can keep some from taking positions that are ultimately early and eventually hurtful, it’s worth it to me—–that in itself is worth the time and energy I spend every day on technicals. Thanks again.
Richard…Thank you for your reply…I wish You & Your’s..A very Healthy Future.
+1
I wish exploration discoveries were predictable….would be nice to know when a stock would jump, instead of playing probabilities.
Gold and Silver are so damn manipulated, there’s no hope in any take=off in price until the COMEX is broken.
I see for silver as futures contracts come to settlement we’re guaranteed close to $25 pricing again.
Another great comment……….. “Gold and Silver are so damn manipulated”
Precious metals bullion Capital gains taxes are 28% much higher than all other assets. Coin dealers are like Gestapo they’re worse than the IRS. They are not friendly at all as far as privacy goes because they know they can be put out of business.
Now you have Biden in office. He’ll tighten the screws down as far as it goes keep shorting it until all the air comes out keep doing it over and over again. They have endless amounts of money to do whatever they want. They can even raise the capital gains taxes on it to 50% maybe 80% who knows.
Rick rule doesn’t have his money in precious metals. He’s invested in Berkshire Hathaway shares. The coin dealers sell coins however they’re all invested in the stock market.
Just some 411 on this market it’s not very lucrative at all rare opportunities only and it’s like a lottery ticket especially now with Biden in office.
There’s lots of risks and perils out there I get tired of pumpers in the metals because it’s definitely has strong head winds going against it all the time.
One more thing, if the government really tighten the screws down on precious metals and even pass laws prohibiting ownership. Guess what, they’d be no outcry from the public at all very few people could care less about precious metals.
Some 411 in PM’s.
All this paper gold not helping matters at all because you need physical gold buying and nobody wants to deal with it because of the capital gains and then you have storage issues and coin dealers are not easy to work with sometimes…there’s no privacy.
People wonder why it’s not going up well there’s good reasons for it if you look beyond all the pitching that’ss being done out there. Precious metals are high risk and they are not considered conservative investments by any stretch of imagination whatsoever.
Tell me this ding dong is going to take the gold….. lol
https://www.youtube.com/watch?v=aA4-Tdvej2c
Can the government confiscate your gold? E.B. Tucker on ‘the war against your wealth’
Kitco – March 21, 2021
Ray Dalio, co-chief investment officer of Bridgewater Associates, recently wrote that policy makers short on money will likely raise taxes and prevent capital flows into “other assets” like gold and Bitcoin. E.B. Tucker, director of Metalla Royalty and author of “Why Gold, Why Now” said that the government already has the tools to do this.
“Everyone gets this idea that the [government] will raid your house and look for your gold. It’s not necessary. All you have to do is limit the ability to transact gold in the legal market, and then you assess an excise tax,” Tucker said.
0:00 – Gold confiscation
11:49 – Capital flows
16:35 – Wealth taxes
21:10 – Beating inflation
People already know, ….that have been around here,….The Act of 1933, was never fully complied with, in 1933.
We went over that issue several years ago.
EB Tucker is always a good listen …… jmo
Thanks for the post.
THe 18 min mark is a good one…….
5 cents and 1 cent………make 6 cent…. the future is in these two elements…
hummm cooper , nickel …. lol 🙂
Royalty Flush….. Next Chapter in the KER BOOK… 🙂
I agree OOTB. For some reason E.B. Tucker always cracks me up in his interviews.
At one point in his rant he looked to the audience and said, “If you think that’s crazy, then you’re crazy.” Hilarious!
I know,….that cracked me up as well…..That is exactly how I feel sometimes… 🙂
If silver only hits 50 by 2025, 3k gold years away.
I was always on pins and needles selling the stuff. Running around and some coin dealers you wonder if you’re going to get paid and the checks are going to clear. It’s all very risky unless you’re dealing with a very reputable coin dealer that is not some neighborhood shop and they have a large presence in the gold community. I’m just referring to when you’re selling a lot of billion amounts to a lot of money or rare coins. I dealt with both.
Anytime I think about going to a coin dealer to sell coins it makes me think about destroying my whole day with misery dealing with coin dealers. With any coin dealer when there’s a significant amount of money involved its very nerve-racking. The whole ordeal with buying and selling coins is very unpleasant experience.
Never take a check….. 🙂
I do agree, dealing with coin dealers is a pain more often than not.. and generally unpleasant…
If you don’t take a check you can’t sell your coins. We’re talking about a significant amount of money here I’m not talking about a few coins and even then you have to get check they don’t have the cash laying around unless you want to do a trade. You need the cash …you can’t take a trade. I have no problem with the check from a highly reputable coin dealer like Heritage. I had so much stuff that Heritage sent out a team of people with armed undercover people and everything they gave me a check on the spot I had no problem with it.
Apparently, you don’t have any experience selling the stuff. It’s a problem and a long time too takes a long time they have to inspect all the coins it’s a big hassle. And you have to worry about the price you’re receiving.
Just below $10,000 and I never have a problem…..it is understood up front…..been doing trading for a long time.
HG……I am a legacy trader at Heritage…..No big deal….
10K ? If I needed that small amount of money I wouldn’t bother to go and sell it. it’s called juggling funds and sometimes it’s a large significant amount and the money goes into something else that is on fire sale. Even a 100K is nothing today it’s ridiculous to even talk about that small amount of money. You can’t go back and forth to the dealer 25 times or whatever it’s impossible. I think it’s like within 30 days too it’s something like I forget but you can’t do it anyway. End up being charged with fraud.
We need physical purchases and like with the central banks and the ETFs if they’re actually buying gold and it’s not just a paper scheme.
The average person is not going to buy gold or silver that much… not even… the millenniums aren’t even interested in it. The government loves the crypto market because it takes away purchases from gold and silver they don’t want anyone buying gold and silver let’s face it because it destroys their toxic policies. Gold and silver need to be kept capped off because that’s a sign that the system’s failing they don’t want that.
Everything’s fake and crypto’s serve their purpose because they’re easy to invest in you can sell them right now and even buy something immediately.
Gold is real and it’s just a shame that we have all these issues that are plaguing precious metals. Coin dealers are scum and who wants to go deal with them. Wall Street is like a dream come true compared to coin dealers.
That’s one main reason why this stuff is not moving that well because people don’t want to deal with it and I don’t want to deal with it ..why. ? It’s a miserable experience to deal with a bunch of scum. Precious metals have that problem. Everything else is just a pipe dream and there’s lots of issues with precious metals especially now with Biden in office. The last president was bad enough pumping paper assets he had no love for hard money advocates at all. The Ponzi paper scheme markets are not going away until it crashes and burns.
I kind of like making the chump change as a hobby…. 🙂
That’s why I stressed significant amount of money. I have no problem with the smaller amounts. It’s fine. It’s just that you can’t do anything with it with significant amounts of money they made it impossible. Well, it’s not impossible I mean to say that it’s just a real pain in the neck dealing with anything with precious metals with anything that’s in high dollar amounts.
Heritage is great so you don’t have to worry about them however they’re not going to come out to your residence unless you have well over to say $700,000. They’ll tell you to mail it in and you can insure the whole thing in the USPS but how do you know that they’re going to be honest when they receive it in high dollar amounts.
Sorry, I should have never brought it up but that’s one thing precious metals has going against it because you can’t really do business in high dollar amounts without stressing out over everything. Unless you live right by Heritage or another really reputable coin dealer and that’s not very easy nowadays driving a hundred miles or more who knows loaded vehicle with a treasure in it that’s real nerve-racking I’ve done it. If you get pulled over they’ll probably confiscated for sure if they find it …you’re done. It’s real scary stuff transporting and everything else. Smaller amounts no big deal.
I said I was Legacy with Heritage ……I have been dealing with them since,
about 2000…. I do not like the fee structure… buying nor selling.
I have dealt with them on art, coins , currency, weapons (antique) and watches.
As I said,…..No big deal.
There’s hundreds of cargo ships coming into the West Coast never seen before in history loaded with Chinese goods. Completely gutting America the operations almost complete and China is going to walk in here because they’re creating wealth from our debt. All these trillions of dollars that are being spent it’s absolutely mind-boggling what’s taking place right now. China’s benefiting and they’re getting rich. Car manufacturers can’t manufacture cars so there could be a big shortage with significant price increases.
Once that operations complete then gold will probably explode because China owns a lot of gold. America will no longer be in control. It’s fairly certain that they will create deflation because China will want to buy up everything on the cheap. American citizens are really behind on their mortgages right now and it’s getting worse by the week.
China’s taking over it’s very obvious and Biden is going to complete this transfer of wealth.
China owns the politicians here and what they have planned I believe is a deflationary collapse here in America. Something to consider because they would be able to buy everything really cheap and walk right in nothing else can serve them better than a deflationary collapse.
Don’t most people start with chump change unless you work in Central Banking. Got to start somewhere.
🤣ditto
Well, not liking the fee structure is much better than losing your money with a crock pot coin dealer and there’s many of them out there. I have a lot of stories for ya. Even with one large coin dealer too that was supposedly reputable and anyway Heritage is good I love Heritage because you can depend on them and they don’t pull a bunch of fraud disinformation etc.
I’ve done a lot of big business with heritage only they’re not close by thousands of miles away I don’t know how far they are down in Texas. When they came out to my residence totally professional armed people the whole deal I had nothing to worry about except for some of the prices and they did really good for me the fee structure may be higher but you can trust them. You can’t go wrong with Heritage I even had auctions with them. I received all my money and there was no stonewalling had no problems recouping my investment or my capital.
I think you were talking about trade dollars I had a real rare one MS 67. I did real well because I had them all regraded and I got upgrades and all the values went up hundreds of thousands of dollars so I made out really well.
I only buy the best looking coins and I was super selective and that’s why I ended up with regrading everything that I was collecting. I had the best numismatics guys on my side..They call me up and tell me about a particular piece and had chances for big upgrades and I would buy it. Those deals have since went away they’re now taking those deals for themselves so I don’t know what happened exactly but I was buying stuff that they were couldn’t hang on to maybe they had too much inventory I think that was the case. My name is known all over the coin dealers Network.
Many coin dealers I’ve been to last few years requires identification to buy and sell anything of any amount. There all bunch of gestapos like I said.
In the last decade they really cleaned out all the coin dealers there’s not many around anymore. In a serious economic collapse about all you can do is trade your gold for something else because you’re not going to be able to sell it most likely I don’t know who you’d sell it to without risking your life. Even trading it.
In fact, some of these smaller coin dealers which that’s who they are, you won’t find any large dealers anywhere nearby could be 500 miles away. They have limited funds and they need time to sell it sometimes they have the dealer Network they have their wholesaler but then they give you less money and it’s a big game out there. The spreads get bigger and bigger. You receive less and less.
In a serious economic collapse Wall Street will be closed and the banks selling gold will be impossible.
Regretfully, we have a lot of people with just Blue sky dreams and not understanding the reality of this market and when things get really bad. Enjoying the profits ? Where and with who I like to know. I say this because things are going to get really bad I’m not saying tomorrow but down the road a year or two most likely much sooner could be months away. It’s coming and there’s not going to be any prosperity for gold investors whatsoever so everyone should probably acknowledge what we all face. All I can say is it’s extremely immature not to understand what the future holds here for gold investors it’s not good at all. America’s slipping fast and this society is failing miserably leading major chaos of monumental proportions.
Am I right !! Most likely because the Chinese are just chopping at the bit to pick up everything that Americans are going to have to cough up with all their debt at fire sale prices. Mortgages are becoming more and more delinquent. A massive deflationary collapses invitable because it serves the Chinese very well. This will lead to the invasion Chinese showing up on our shores coming over the borders in mass numbers because there’s billions over there. Chinese now rules the waters because they have the largest navy far superior to the US.
I don’t necessarily agree with the 2025 date.
I can see signs the manipulating bankers are being stretched by lack of physical.
Before each maturity date on the COMEX the manipulators move the market, hoping to drive the less knowledgeable people (suckers) into closing out positions to limit losses.
There are indications the bankers are NOT GETTING ENOUGH SUCKERS to play the game.
There are some Asian bankers playing with deep pockets, doing little shorting, but actually taking metal off the COMEX. Slowly JPMorgan is being drained of physical metal.
My best guess is that the COMEX will not survive 2022.
I always hope, of course, some mine producers will stop hedging, possibly even hold metal off the market, and force the COMEX to run out of metal sooner.
WE are not so far away now. More and more understand what is happening.
There are a lot of stupid miners, though, who seem happy at selling just a little above cost of production.
CFS – as for your last sentence:
“There are a lot of stupid miners, though, who seem happy at selling just a little above cost of production.”
I’d agree that there a lot of stupid miners, but as for some being “happy” at selling a little above the cost of production, it is much more nuanced than that. I doubt any company is happy to sell any product just over the cost of production, but in the case of a major permitted and operating mine with hundreds, or in some cases thousands of employees, it isn’t like they can just easily turn of the switch if prices dip, and wait it out for half the year to a year, and then flip the switch right back on. Many are forced to keep operating with slim margins during price pullbacks, to keep their mine in good standing with all the regulation, to keep their staff employed to retain the specialized talent, and because it is still insanely expensive to move a mine to care and maintenance, and often they don’t come back for years (if ever) once that kind of move is made. As a result, many miners have to power through the tough periods of slim margins, or even operational losses, to get to the part of the metals cycle where the metals pricing is more advantageous and the margins are more robust. That’s just how it works in commodities extraction, and is no different with Copper/Nickel/Zinc mining a few years back, or Oil production when the pricing dropped into the $20’s and $30’s. That’s the way the commodity cookie crumbles…
CFS, thanks for your postings. I’ve come to recognize since the drubbing I took in metals in Spring 2006, you have to take some off the table when outsized move upward occur. It’s much easier now with no/ reduced trading fees to make those trades. Back then, Schwab was $29/trade, Scottrade $7. Now when I see 8, 11, 14, 22, 30, even 50% up days, I take off the table. I have preset sells in place every Sunday evening, and again during the week, if necessary
Good comments Marty. I agree that often times, when swing-trading partial positions, I’m quite fine scalping the base hits of 15%-50% on partial positions, while leaving the core positions in place for the multi-bagger home runs and grand slams. Making 20% or 30% in a few days or weeks, is far better than most fare after a whole year in the general markets, so no shame in stacking up the smaller wins. Often, I make much more on a particular stock adding up all the swing trades, than if I just bought and held over a year or two, so it’s a nice way to generate funds to invest in other names, or to reinvest in the same name. I used some limit orders to do some trading today, while I was tied up, but need to get more disciplined in lining out some good stink bids each evening for the following day like you do, as sometimes the markets will surprise and they’ll get filled. Cheers!
https://www.youtube.com/watch?v=QhnqPwf5bmw
Shortage in Silver ?
I could be dead by 2025. What happened to all the fundamentals indicating this is the best PM market in history. Must be the same one they were talking about in 2001. Just another day of dumping counterfeit contracts during low volume periods by the bullion banks.
David, it’s the spring of ’19 again in some ways and the summer of ’18 again in others. Gold has not been so oversold since 2.5+ years ago and the bears are looking for lower prices yet again when they should be focused on buying. A further selloff into next week will help to get the upside going but is not required for the next bull move happen. I was a buyer today and will buy into next week. Maybe gold has to retest its low and maybe not but significant further downside is less likely than the bears think.
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=2&mn=0&dy=0&id=p35563550296&a=902656161
That is an encouraging thought Matthew. I did a little buying last week and this week, but not much. Most of the buying I did was in late February through early March, but my concern has been if there still are months of grinding lower to down, that there still may be better deals available in quality names. I’m pretty stocked up and still have good cost basis positions in most of the names in my portfolio, but many are starting to get closer to parity or tipping over into the red this week, so it has crossed my mind to liquidate some positions and wait for lower prices. However, when I consider thoughts and charts like you posted, it does give me a moment of pause, and opens up the potential that many are starting to get too bearish, and may be missing a good buying opportunity once again.
More than likely I’ll just hold onto most of my key positions, but I still may lighten up a the position sizing of a few larger weightings, just in case things stay oversold for longer and keep pulling back even lower, as many are proposing as most likely. It’s a tough call to make, as lightening right near an upturn would be the wrong way to play it, but sitting in stocks that may still pullback 15%-30% would also be the wrong way to play it. Decisions… Decisions…
Great thoughts again………..jmo
Best Chart Time Frames, Settings, and How to Use Fib Retracements & extensions to Make Money
The Technical Traders – Chris Vermeulen Mar 25, 2021
(MMX) Maverix Metals: A Reasonable Valuation For This Tier-1 Royalty Name
Mar. 25, 2021 – T.D. – Seeking Alpha
EX, as long as EB Tucker is around and doing podcasts, MTA is the superior streamer/royalty of all. A younger, well spoken type that can maintain people’s attention and constantly dropping as a director his MTA & NOVRF marketing ploy. My only royalty at this moment. Closely watching WPM as the catalyst BENCHMARK for the PM’s next impulsive move upwards
Still 22% in cash. But if Ag nears $23.50 , I’m all in again
Great comment on EB…………
Hi Marty – I’m definitely a fan of E.B. Tucker and MTA and was in it most of last year and on and off this year and actually just traded back out of this week, looking to see if it may be available at a lower price.
As for MMX Maverix, they have over 100 royalties, a number of producing assets bringing in cashflows, and I am really a fan of a number of their JV partners projects and mines that are in operation or in development. Over time, I expect Maverix has more room to run, but they are less promotional than Metalla, so it would help if they got out there more often to spread the good word.
Copper and Nickel…..EB ….has some great thoughts…..Streaming
Agreed. They were quite prescient to launch NovaRoyalty focused on Copper/Nickel.
Ex, we can blame MMX performance on Eric King and his 10 second pause to name drop Ross Beatty’s suggestion to buy MMX
Duly noted Marty. Speaking of 10… Check out page 10 of MMX’s Corporate Presentation:
Lots of top quality mines held by the big boys, and look at all their Nevada/Arizona projects noted in the “Western USA” breakdown. It’s quite an impressive collection of royalties IMO.
https://maverixmetals.com/site/assets/files/5813/mmx_presentation_march_2021.pdf
Gold & Silver Miners Update
iGold Advisor – Christopher Aaron – March 25, 2021
Really interesting analysis from Christopher using WPM Wheaton Precious Metals as proxy for the PM sector, with a healthy balance of Gold & Silver exposure, and the 2 main scenarios he sees playing out (false breakdown of a head & shoulders pattern that would end soon for a large rally, or the terminal wedge pattern that is the slow grind whipsaw down for the next few months that many technicians are seeing as probable). He does present that there is a 3rd option (which he considers quite unlikely) that the head and shoulders pattern in Gold is still valid and that massive selloff could happen dropping things down to dismal levels. I agree with him that this is unlikely, but anything is possible.
So between the 2 more likely scenarios Christopher outlines:
(1) failed H&S pattern with a move to the upside starting in the next 6-8 weeks,
or
(2) terminal wedge pattern whipsawing sideways to down over the next 3-6 months, more akin to what Jordan, Doc, Glen have been mentioning
It’s hard not to see the chart damage that has been inflicted, and the longer term trends on the monthly charts pointing the potential more to the latter 2nd slow grind down in the wedge scenario.
Personally, my portfolio, while diversified across a number of sectors, is still more heavily exposed to the gold & silver miners overall, so something like the first scenario would be much more ideal, more profitable, and would catch many investors offsides. I haven’t seen that case laid out by many technicians.
If his first scenario plays out, it would surprise many investors that currently have a more the consensus short to medium term bearish thesis, and would be exactly the kind of thing a bull market does, knocking both bullish and bearish rides off it’s back as it climbs the wall of worry.
If scenario 1 does play out, then I’ve got little to do, but I’m curious as to what others will do for their strategy if the scenario 2 terminal wedge pattern plays out for the next 3-6 months?
It seems silly to sit in losing propositions for half the year, but one could use inverse ETFs to hedge, or could use active swing trading to sell rips and buy dips in the whipsaw, but that is far riskier and really requires an active trading approach with more focus daily on the market moves. Longer term buy & hold type investors could just sit on positions as they pull back down, but it begs the question, why not just move to the sidelines and buy back in at lower prices, or at least reduce positions if they are convinced in a slow decline downwards for months?
It is going to take a few weeks (Christopher mentions 6-8 weeks) to see which pattern and trend is playing out based on the support and resistance levels mentioned in the video, but it does give anyone following the PM miners serious food for thought as to what the best strategy for them will be during these volatile times.
Ex, both Gold (HUI) and Silver (SIL) went MaxSat(7) yesterday at 12:32pm.
Note the layouts in this screenshot of both: https://postimg.cc/jWsj929d
Thanks BDC.
Possible Dollar correction: https://postimg.cc/2VgG4b6J
March 31 closes for metals could determine a lot about imminent momentum changes.
Looked like a morning to puck up a few Wallbridge. News was met negatively as algos can’t read. They wouldn’t sell me any under .47 US.
David, interesting that you mentioned Wallbridge—I’ve been following it closely and getting ready to add to my position in it—the technicals are looking better and better.
I went ahead and added to Wallbridge as well as Anaconda. I might be wrong but maybe I saw some engulfing candles on Anaconda and Minera Alamos. I am not good at that stuff, but might be worth a look at those two also.
I’m a big fan of Wallbridge guys, and there is no doubt they have a world class asset in Fenelon, but the recent market pushback was that they raised extra money and didn’t specify precisely what it was being used for, which led to unhinged investor speculation as to all the potential misuses, instead of considering that they may actually be using it to do more drilling (which is most likely since it was flow through financing).
David – Anaconda and Minera Alamos are great choices as well and I’m a fan of both. They are well run, with good projects, good strategies, and have held up better than most junior gold stocks as a result. I expect them to continue to offer good leverage to the metals prices.
Boom…Anaconda Bid and Ask drops out of blue…Big daily green candle becomes a memory.
David, you’ve got a strong looking chart there with the near term possibility of confirming a cup and handle pattern. It got stuffed back today because it poked well through its narrow and horizontal Bollinger Bands.
Based on the bigger charts, your main risk is probably the possibility that the sector might show significant weakness beyond next week. I know that’s a “done deal” in the minds of many but there’s a good chance they are in for a surprise.
https://stockcharts.com/h-sc/ui?s=ANXGF&p=D&yr=1&mn=0&dy=0&id=p10085360662&a=928145987
Matthew:
Thanks for those comments. Today’s activity to me, was a bit abnormal in that there were several stocks double digit positive off the bottom band of my simple charts. My account also went to high of day at close. We will see.
Just as I was getting interested, they began walking back my miners.
Silver is their main target…every green move seems to be met with a bigger red dump.
Here is a reason fir my miners to be dropping: In one column, I have Anaconda up 2.86% price change for the day; on the Research page it shows Anaconda up 7.89% for todays change; and although the price change is + for the day, the market value is negative. It’s hard to get ahead.
Anaconda my only stock with a positive % gain and a negative dollar loss. Am I surprised….
Crazy…… yes indeed………
Of course I do not have any experience selling stuff….. lol 🙂
Evidently the “change” in market price showed negative when it should have been positive. Despite that, the market price and other data was correct. Not sure how that happened except it got screwed up when there was an unexplained drop in the bid and ask. I guess the error will go away by Monday.
Well , at least gold holding up….. every time I say that…. it smacks down….
I hope you are right…(now we are double jinxed).
🙂 🙂
“Saturation Edges” screenshot archive:
https://postimg.cc/user/saturationedges
You gotta love the Doc. Not sure of the bottom in silver and when it gets to 23.00 or maybe lower but all in for 50.00 in 2025. Priceless.
Same old Doc. Sideways to lower……….
GDXJ (and SIL) finished filling its 3/9 gap today before reversing and finishing higher…
https://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=0&mn=11&dy=0&id=p81932605469&a=713770028