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SILJ. If you liked it at 8.60 you should love it at 8.20ish now. If we are truly heading up at least for the intermediate term today is probably the last day to load. We continue on down who knows how far it goes.
 
Lancers32 said:
SILJ. If you liked it at 8.60 you should love it at 8.20ish now. If we are truly heading up at least for the intermediate term today is probably the last day to load. We continue on down who knows how far it goes.
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If 8 doesn't hold then no support until we hit march 2020 lows at just under 5. I am keeping some powder dry for the worst case scenario.
 
Got too much dry powder turned out to be a good thing. Uranium got overheated coming into areas of interest a little lower than here. DNN mid $1.30's I'm thinking. We don't hold there I think we are in for a good deal of consolidation before we move back up again. Still too much bullishness I think.
 
Silver miners got hit hard Silver not down all that much. That joke about $100 bills and a ho house.
 
Goldhedge said:
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Sounds like a lot to you and me but 700 mil is nothing. Literally nothing. It's digits on a computer or some paper with ink on it. At some point in the future that silver dollar in your possession will be worth more than 700 million in printed pieces of paper which will be worth 0.
If the entire system goes tits up the bakers have all the gold and get to start over.
 
Metals say fook yu in the overnight session. Came screaming back to life after yesterdays fumble. See if the miners follow suit
 
Food for thought:
...
Miles writes: "Between 2007 and 2021, according to Bloomberg, the inverse correlation between the yield on 10-year TIPS and the price of gold registered 91%. And look at the divergence since. The correlation has totally broken. Given where real interest rates are, the gold price should be hundreds of dollars lower. Yet it isn't."

Despite gold's holding up so well, Miles notes, sentiment about the monetary metal and shares of gold mining companies couldn't be worse.

The break in the correlation, according to Miles, involves central banks, and he concludes that gold and gold mining shares now present great opportunity precisely for being so unloved outside central banking.
...
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More:

Eight Capital's Winston Miles explains why gold's inverse correlation with rates has broken | Gold Anti-Trust Action Committee | Exposing the long-term manipulation of the gold market

gata.org gata.org
 
Those gappy S African golds are flying again this morning. Hate buying stocks that look like that though.
 
"I'll tell you something for nothing" (As Roger Daltrey would say)
Something's wrong every day
 
pmbug said:
It broke through, but, will it hold?
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bugs looking at pms second wind on the upside today:

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Crazy week. Yesterday I was wondering who could possibly be left to sell the miners. Looks like it was just that counter move right before a nice run up that usually happens. They shake the tree one last time. Give the shorts confidence and the weak longs finally sell....Then we blast off. I had written off the Ag calls I bought last fri. Instead of a 45% loss yesterday I took the 20% profit this morning.

Close looked strong on the miners and metal today so bought some SLV calls to hold into next week and maybe longer. I'm betting silver runs up to around 24 in the next week to 10 days.
 
Banks got long Gold Funds got Short. Even after this little runup in the scheme of things the miners are still very cheap. There should be at least some consolidation even if we continue a little higher early next week. If you're not long tough to get long here.
 
Voodoo said:
Ya, silver was the last thing I was gonna short. Did get to $20.85. He seems to get things real close but it doesn't quite make it.
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He's wrong a lot like most analysts. Sold Bitcoin which went to 63K in the mid 20's has been talking up Silver since the 2020 tops. My point in posting stuff like is is to show none of them are worth a fiddlers fck. DYODD.
 
Lancers32 said:
He's wrong a lot like most analysts. Sold Bitcoin which went to 63K in the mid 20's has been talking up Silver since the 2020 tops. My point in posting stuff like is is to show none of them are worth a fiddlers fck. DYODD.
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They are better than my trading lately.... so I still listen to the better ones.
 
Voodoo said:
They are better than my trading lately.... so I still listen to the better ones.
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Tell ya what. If you buy HL CDE and SILJ and hold unless they trade under $3.40 $2.00 and $7.95 you will do better than following anyone who is trying to pick the tops and bottoms going forward.
 
Island reversal/abandoned baby Gold. Not a fan of chasing at all.


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