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How to trade these Summer Markets – US markets, gold and Bitcoin

Cory댊
August 6, 2021

TG Watkins, Director of Stocks at Simpler Trading joins us to share his strategy for trading during the slower summer markets. While a buy the dip strategy continues to work for the broad averages the dips have been small and short lived. We also discuss what he is looking for in gold and cryptocurrencies to change to a more bullish outlook.

Click here to visit TG’s site – Profit Pilot.

Discussion
78 Comments
    Aug 06, 2021 06:10 AM

    this weekly chart for gold futures shows week if finish as now is bearish sash…..Price is now below the bottom of the bearish(purple) structured TAS profile….Must be open for sure, to the .618 fibs retracement area at 1692 and this corresponds to the Tom Demark9 breakout from 3/29/21 low of 1677.3..MACD upper pane is now bearish and below zero line…the lower panes will not show due to doubled up indicator panes are not loadable…..Bur RSI is not oversold and Slow Stoch has plenty of room for more down travel…
    https://tos.mx/3NBGOTl

    b
    Aug 06, 2021 06:31 AM

    I found it a bit humorous this article on 321 today and gold takes the biggest drop in some time.
    Aug 06 Gold Prepares to Rally FXE

    Aug 06, 2021 06:40 AM

    It’s a Mad, Mad, Mad, World out there! The Madness of 2021.September is coming, the conventional markets are about to reach their ultimate glittering peak. Print, print, print, your way to prosperity. The greatest show on earth is when man tries to tame and bridle the financial markets. Enjoy it while you can, I know I will.

      Aug 06, 2021 06:30 PM

      DT – Do you think we may see a “September Surprise” to the downside in the general markets?

        Aug 07, 2021 07:22 AM

        Hi Ex, I think the surprise if it happens will be somewhere around the last week of September to the end of October. If the markets start suddenly moving higher before September 20th, I would certainly be concerned we were seeing a blow-off top and would act in a defensive mode. The financial system is groaning under the weight of debt, and it has me seriously concerned.

          Aug 07, 2021 07:58 AM

          Thanks for that response back DT, and the timeframe that you have your eye on to stay on high alert for a potential blow off top in the general markets. Yes, I also have that uneasy feeling that the other shoe is about to drop in the general markets because the markets are way overdue for a corrective rout that knocks some of the froth out of the indexes, mania tech stocks and FAANG stocks, and resets sentiment for the generalists.

          As for your last sentence, yes, I concur. Most thinking people should be seriously concerned indeed, about the weight of debt the financial system is groaning under.

      Aug 06, 2021 06:34 PM

      By the way… I completely agree that “It’s a Mad, Mad, Mad, World out there”

      ______________________________________________________________________________

      Mad World – Gary Jules

      https://youtu.be/4N3N1MlvVc4?t=1

    Aug 06, 2021 06:43 AM

    SILJ is still clearly bullish relative to GDX and that’s a good sign for the whole sector.
    SILJ:GDX
    https://stockcharts.com/h-sc/ui?s=SILJ%3AGDX&p=D&yr=1&mn=6&dy=0&id=p55326082305&a=995813078

    Aug 06, 2021 06:45 AM

    It is also bullish that SILJ is up vs silver on a bad day for silver:
    https://stockcharts.com/h-sc/ui?s=SILJ%3ASLV&p=D&yr=1&mn=8&dy=0&id=p38495532221&a=705143124

      Aug 06, 2021 06:31 AM

      SILJ is now down less than half as much as silver and 1.1% less than GDX.

    Aug 06, 2021 06:53 AM

    Bonzo getting killed today with silver down .86. When I don’t know what to do I buy more NSRPF. Just bought more and hope the presentation on Mon. will be good.

    FIH
    Aug 06, 2021 06:56 AM

    Now if only the miners had enough sense to withhold physical silver for a couple of weeks en mass from the pipeline, then, these smackdowns would almost be over before they start. Buy physical on any dip! Around 1671 appears to be the bottom range for this smackdown, in my opinion.

      b
      Aug 06, 2021 06:57 AM

      I stopped buying phyzz silver a few years ago.
      I have more than I can carry so have no need for more.
      I have enuff gold I can sell some every month until Im 90.
      I wont live that long so thats enuff too.

      Altho there are times I cant help myself 🙂

        Aug 06, 2021 06:39 AM

        U being of unsound mind…… need another jab… lol…..

          b
          Aug 06, 2021 06:34 PM

          Still dont know a soul with any bad side effects .

          Of the millions and millions of “jabs,” hundreds of millions actually, you would think all these people dropping dead would be noticeable somewhere other than the net.

          When I see evidence of existence I will believe.

    Aug 06, 2021 06:28 AM

    Looks like there are going to be some serious discussions at Jackson Hole concerning Fantasy Land.

      Aug 06, 2021 06:34 AM

      the only possible positive with today’s gold plunge is the producers are largely only down marginally, signaling holders saying enough is enough. The complete disinterest in metals however continues, so any initial pop-up is strictly for the gamblers, not for those wanting to put long-term money to work unless proven otherwise.

    Aug 06, 2021 06:47 AM

    (SVM) Silvercorp Reports Adjusted Net Income of $15.8 Million, $0.09 Per Share, and Cash Flow from Operations of $36.5 Million for Q1 Fiscal 2022

    August 5, 2021

    Revenue of $58.8 million, up 26% compared to $46.7 million in the prior year quarter;
    Net income attributable to equity shareholders of $12.2 million, or $0.07 per share.

    http://silvercorpmetals.com/news_and_media/news/silvercorp-reports-adjusted-net-income-of-158-million-009-per-share-and-cash-flow-from-operations-of-365-million-for-q1-fiscal-2022

    Joe
    Aug 06, 2021 06:50 AM

    Looks like the Wednesday failed rally was the warning shot across the deck.
    Gold will likely close the day down 50 and silver down a dollar.
    Platinum has been falling off a cliff for for the past couple months now.
    PM sector is dead in the water, every labored rally will be sold off.
    This will be the theme for at least a couple more years.

      Aug 06, 2021 06:54 AM

      It may be the theme for a couple of more months… not years…

        Aug 06, 2021 06:58 AM

        Agreed Ex. weeks or months but not years before gold producers once again become the flavour of the month. Below 1750 and folks will throw in the towel but still not quite there.

          Aug 06, 2021 06:00 AM

          Agreed. When gold does finishing basing and washing out the sentiment, it will be the producers that get the bid first (like they did in April & May bounce after the March double bottom at $1673)

        Joe
        Aug 06, 2021 06:17 AM

        No, years.
        The Dems seized control last year thru their election shenanigans and they will continue to do so until they are stopped. They have proven they will persecute with extreme prejudice anyone who attempts to stop them. Domestic terrorists is what they will call them and nobody has the backbone to stand up to them.
        PMs will be slapped with the label of a tool of distrust in government, and anyone holding them will be seen as a domestic terrorist.
        You won’t get a job or be able to fly or stay at a hotel without first getting whatever vaccine they want you to get.
        They want total submission/obedience and will settle for nothing less, or you will go to jail.
        Their religion is total control over your life.
        Their shameless hypocrisy is proof of this, and the media will enforce it to the very end.

          BDC
          Aug 06, 2021 06:45 AM

          Joe,
          DC critters play the same game (both Demons and Repugs).
          Deep Pockets rule: Public, Private, or Quasi.
          BDC

        Aug 06, 2021 06:00 PM

        Not years or months and even weeks is probably a stretch.

        b
        Aug 06, 2021 06:08 AM

        Maybe, maybe not ex.
        Recall 20 years of going nowhere.
        We dont know what affect the gov response on cryptos will have nor do we know what the digital dollar response will be.

        Personally, I think gold retains its purchasing power in relation to dollars printed, but who says Im right?

        The biggest gold hoard known to man could be found at any time for example, maybe the U.S. has 50k gold stored not 20k, we dont know, it hasnt been audited.

        Its the things we dont know that we dont know that git ya.

          Aug 06, 2021 06:55 AM

          Yeah, I hear ya b, and you are correct that anything is possible, but there are possibilities and then there are probabilities.

          It is most probable that Gold is still in the bull market that commenced when Gold double bottomed in the month of December 2015 at $1045.40, and has continued to trek higher since then in fits and starts, and got up to a new all time high last year of $2089, while continuing to put in a pattern of “higher lows.”

          > In Nov of 2019 the low was $1446.20 (a “higher low” than the previous one of $1267.30) ,

          > Then during the March 2020 pandemic flash crash Gold bottomed at yet another “higher low” of $1450.90,

          > Next in March of this year it double bottomed down at $1673.30 which was yet another “higher low.”

          > As long as wherever Gold finally bottoms is still another “higher low” above that $1673.30 then that bullish trend is still solidly in place.

          Here’s a chart just looking back a few years and the trend of “higher lows” is clear:

          https://schrts.co/ZRGGRDQp

            b
            Aug 06, 2021 06:39 PM

            Exactly why I think gold will continue to follow the amount of currency printed.

            Aug 06, 2021 06:58 PM

            Makes sense to me b. The more currency printed, the more inflation through increasing the money supply. That should continue to underpin the price of the yellow metal higher in tandem.

          Aug 06, 2021 06:09 PM

          Go Rice Institute!

        BDC
        Aug 06, 2021 06:50 AM

        Added to watch list.

          BDC
          Aug 06, 2021 06:02 AM

          (GBARF)

    Aug 06, 2021 06:52 AM

    $TSLV $TSLVF Tier One Silver Channel Samples 2 Metres of 6,278 g/t AgEq and Samples up to 9,910 g/t Ag and 8.79 g/t Au in New Veins

    August 6, 2021

    https://www.tieronesilver.com/news-media/news-releases/tier-one-silver-channel-samples-2-metres-of-6-278-g-t-ageq-and-samples-up-to-9-910-g-t-ag-and-8.79-g-t-au-in-new-veins/

    Aug 06, 2021 06:17 AM

    How many times have we seen the take down in the futures market? It’s like the movie “Ground Hog’s Day”
    Once you start looking at Gold and Precious metals as insurance, days like today are taken with a grain of salt.

    BDC
    Aug 06, 2021 06:30 AM

    Dollar Index now at ABCD(1:1.272) expansion (92.838).
    Retracement = Path of Least Resistance.

      BDC
      Aug 06, 2021 06:18 PM

      Be careful … it held.

    Aug 06, 2021 06:27 AM

    I keep adding to my Global PM Fund in small tranches to avoid too much of an unrealised loss. Yes, adding today.

    In the past I’ve let losses run to 80% or more, and the problem there is that it takes a prolonged run to show a small gain.

    Keeping losses to under 10% now, so that a bounce of short duration puts me in the black.

    Aug 06, 2021 06:04 PM

    This is worthwhile:

    REAL RISKS – COVID VACCINATION
    https://patienttoolbox.cchfreedom.org/pmh.php/41#top

    Aug 06, 2021 06:05 PM

    The sheeple approach to vaccination:
    https://www.henrymakow.com/upload_images/umbrella2.jpg

      Aug 06, 2021 06:19 PM

      Rather be free of carrying an umbrella all the time than risk getting a little wet once in a while.

        Aug 06, 2021 06:27 PM

        Too bad big pharma has managed to put an Category 5 hurricane into their concoctions.

    BDC
    Aug 06, 2021 06:28 PM

    FNV could become an Island Reversal Top.

    Aug 06, 2021 06:14 PM

    Feeling like gold and silver are going down the gurgler now and it’ll be a long time before they come back. I’m usually wrong on these things so take it as a contrary indicator.

      BDC
      Aug 06, 2021 06:21 PM

      Reality trumps all.

    Aug 06, 2021 06:22 PM

    Added to Big Ridge, Labrador and Emerita today.

    BDC
    Aug 06, 2021 06:01 PM

    Best to restrain buying when “lower-low-lower-high” is in effect.

    Aug 06, 2021 06:25 PM

    Nibbled a little today for the first time in awhile.

      Aug 06, 2021 06:42 PM

      Today I added to my positions in Alamos, Alexco, McEwen, reinitiated a new starter position in Tier One, started a position in Kinross (the first gold major I’ve owned in a decade), and added a bit more to my Cannabis ETF (POTX).

      Yesterday I sold a half dozen other partial or full positions and put a few funds to work adding to positions in Americas Gold & Silver, Vizsla Silver, Commerce Resources, Energy Fuels, and Cypherpunk Holidings.

      Ready to do add just a little bit more to other positions next week, and then I’ll be back out of dry powder again.

        Aug 06, 2021 06:02 PM

        Waiting to get back into my positions in CDE and HL—-in all likelihood they have farther to fall.

          Aug 06, 2021 06:45 PM

          Yeah, I have a core CDE position, and a relatively new starter position in HL, but am waiting for a bit more weakness to add any more to them.

          These both may be good ones to review in our next episode where we talk stocks Doc.

        Aug 06, 2021 06:11 PM

        Feel better about my KGC now that you’re in.

          Aug 06, 2021 06:30 PM

          They have had a rough go of it with the fire at one mine, a death of a team member, and the work on optimizing their other mines, and it is starting to look like the selling has been over done based on where they will be in the 2nd half of the year and moving forward.

          Kinross is getting ready to bring a project into production, and has more mines in development in their pipeline, so they have a solid growth profile over the next 2-3 years, good revenues and cash flows, plenty of exploration potential at about a half dozen projects, and the company is also taking advantage of their weak share price and will start buying back their own shares at current levels.

          I agree with their management team that now is an attractive time to start accumulating Kinross, and as a Senior producer featured in other resource funds, it will get a nice bid when the PM sector improves and starts to move. I wanted a solid larger gold producer that was on sale at present, and after listening to their most recent recorded Q2 operations and earnings call report, I took the leap. I also appreciated how they fielded the answers from analysts on the earnings call that were dissecting their forward production growth, confirming that grades will improve, and unpacked the path forward on rehabilitating after the fire and plan and timeline. Overall, there is a lot to like about what their path from now to 2025 looks like IMO.

    Aug 06, 2021 06:09 PM

    (GSVR) Guanajuato Silver Company Ltd. @GSilver_co · 5h on Twitter:

    “Vein material begins to be extracted and stockpiled at the #ElCubo lay down yard, in preparation for processing at #GSilver’s mill in the fall.”

    https://twitter.com/GSilver_co/status/1423717585712029697?s=20

    Aug 06, 2021 06:03 PM

    Posted byu/sigep309 – 6 hours ago – WallStreetSilver – Reddit:

    “2 years of sacrifice, instead of steak it’s hamburger, instead of Starbucks it’s Folgers, instead of my Lamborghini it’s Ford Escape instead of 2 weeks in Hawaii it’s a weekend get away! Sacrifice daily, it is the way to financial freedom!
    This will be bigger than Game Stop Hold the Line Apes. SILVER STACK”

    https://www.reddit.com/r/Wallstreetsilver/comments/ozgc72/2_years_of_sacrifice_instead_of_steak_its/