The Lunatic Fringe - Market and Trade Chat

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more. You can visit the forum page to see the list of forum nodes (categories/rooms) for topics.

Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

Voodoo said:
Most everyone except a few left here have already thrown in the towel. Along with the rest of the laundry basket some shoes and heck a hair dryer or two.

GDX looks like an inverse H&S playing out very slowly. I'd get concerned below $28 and really $27.50
Click to expand...
Joe Blow bearish don't make it a bottom.


nftrh.com

The Gold Price is Dropping!Notes From the Rabbit Hole

The gold price is taking a hit but importantly, crude oil is taking a harder hit Let us hear no ghost stories about Banksters attacking gold or as Larry would say inflicting a “take down&#822…
nftrh.com nftrh.com
 
jelly said:
well that was the most short-lived gold miners pop I've seen. Going to open with a huge gap down. If we don't rally from this level, we can probably throw in the towel here.
Click to expand...
AKA a fart in a wind storm....
 
Lancers32 said:
Click to expand...


This is really deceiving. It was a temporary blip as they had some operating issues. As you'll be bound to have when blowing up ground deep below the surface and moving it around. So a temp drop in production makes costs look much higher.

Or perhaps, they are just tired of mining $22 silver and want to wait for $600 silver to kick it into gear.
 
Voodoo said:
... and want to wait for $600 silver to kick it into gear. ...
Click to expand...

slow-laptop-picture-id185089663
 
Lancers32 said:
Click to expand...

Allegedly, after they open the new mine end of 24 those costs will be cut in 1/2. Remains to be seen of course.
For now I am paused on anymore buying. At 1.50 I may take another position and at 1.00 (If it gets there) I will double up again.
Options trading tsla and AI have kept my account green the last couple weeks.
Last Friday was just a peek at the potential the miners have. If we get rallies like that but lasting 2 months I might be able to get even.
 
Voodoo said:
Every single day that the price of silver stays ridiculously cheap is another good day to get richer.
Click to expand...
I'm not jumping on you Voodoo, but we've been hearing that same line for years no, decades now.
Here we sit, day after day, waiting for silver to make us richer.
So, when does is stop being cheap and another chance to get rich and actually become the millionaire maker it is proclaimed to be?
 
Last edited:
Little bounce for Hecla. Let's see if it can hold these little bottoms.
 
JayDubya said:
I'm not jumping on you Voodoo, but we've been hearing that same line for years no, decades now.
Here we sit, day after day, waiting for silver to make us richer.
So, when does is stop being cheap and another chance to get rich and actually become the millionaire maker it is proclaimed to be?
Click to expand...

That's like asking when are you going to need fire insurance. Except, math tells us that this forest is going to burn down and pretty soon. It's a simple exponential function. Exactly how and when we don't know but the more preps you get in now the better.

I'd say the process legitimately started in 2007-08. It literally started then but they managed to hold on for much longer than most expected. I think that was because the Rot and Control is FAR more extensive than we first thought.
 
If you want to get rich become a politician and set up a foundation. A few offshore shell companies helps to funnel the money in there as well.

As the worlds reserve currency the US basically has unlimited spending ability. As long as it's done incrementally. Huge chunks all at once creates inflation.
Right now we have slowed the spending supposedly and at the same time the fed is doing QT which sucks money out of the system. Also raising interest rates slows the money creation machine via housing and refinancing.
I'm actually surprised the markets have held up as well as they have.

The fed has to lower rates if the metals are to really take off. At least that's been the MO in the past. But, the fed says higher for longer. Is that for real or just talk? Time will tell but if rates stay high then metals could move lower or just keep consolidating at these levels. RN they seem fairly resilient to me. Miners are a different story and I guess, according to EXK, costs are higher because of inflation.
 
like someone on the old GIM site used to say - "vaiting and vatching"
 
Cigarlover said:
If you want to get rich become a politician and set up a foundation. A few offshore shell companies helps to funnel the money in there as well.

As the worlds reserve currency the US basically has unlimited spending ability. As long as it's done incrementally. Huge chunks all at once creates inflation.
Right now we have slowed the spending supposedly and at the same time the fed is doing QT which sucks money out of the system. Also raising interest rates slows the money creation machine via housing and refinancing.
I'm actually surprised the markets have held up as well as they have.

The fed has to lower rates if the metals are to really take off. At least that's been the MO in the past. But, the fed says higher for longer. Is that for real or just talk? Time will tell but if rates stay high then metals could move lower or just keep consolidating at these levels. RN they seem fairly resilient to me. Miners are a different story and I guess, according to EXK, costs are higher because of inflation.
Click to expand...
I would think since the government can't afford to pay the debt with higher rates then Powell has to lower. But if the intent is to break the system then all bets are off.

You could have married Chelsea Clinton. :sick:
 
I could care less what the fiat price of metals are. If you're stacking to get fiat rich you're doing something wrong. Go buy EV stocks and get some crypto while you're at it for that,😂
 
BeefJerky said:
I could care less what the fiat price of metals are. If you're stacking to get fiat rich you're doing something wrong. Go buy EV stocks and get some crypto while you're at it for that,😂
Click to expand...
I heard that 25 -40 years ago. If you had invested in a staid SP500 fund and sold say in the past 1-5 years and bought just Gold you'd be way ahead now. The metals are not a religion.
 
Lancers32 said:
I heard that 25 -40 years ago. If you had invested in a staid SP500 fund and sold say in the past 1-5 years and bought just Gold you'd be way ahead now. The metals are not a religion.
Click to expand...
I hear that all the time too. I think it all depends when a person started. You also have to account for taxes.

I'm not against investing in the stock market. I'm against people whining about metals not making them rich. Really the whole purpose is to protect the wealth you already have. They do that just fine.

Someone who bought gold in 2000 is sitting with a 6x dollar increase vs. the S&P buyer with a 3x dollar increase. Plus they didn't have to pay taxes on the stock gain before buying gold today. Unfortunately the dollars buy less than 1/2 today what they did in 2000.

You get rich by leveraging production of others or assets. You protect that wealth by buying metals amongst other things.

Everyone is on the same boat. Treading water while inflation eats them alive. Under those circumstances I'm thinking metals will do what they do best which is keeping people that own gold from being totally consumed. There is plenty of history to back it up.

But people can go ahead and continue whining that they're not getting "rich".... 😂
 
Last edited:
While some of these stocks can grind lower it really doesn't feel like a major top. Some decent trades if you use stops. PAAs is into major long term support. SILJ is 20 cents off the bottom. Low risk if you don't mind being a little bit wrong if we don't turn from near here.
 
I hate to say it, but I think goldies go lower yet. GDX has a gap below to fill at $27. Gold probably to pull back to 200-DMA
 
Be surprised to see crude go to the 40's but these days you can't be sure of anything. Lower tops.

Oil.jpg
 
Since 2020, we’ve seen two wars, and most recently the top in the interest rates, yet gold still can’t break out. At this rate, it will take a nuclear war to get gold above 2000.
 
just an endless slaughter in the miners. Never have I seen this before, with gold on the edge of all time highs.
Newmont continuous new lows.
 
jelly said:
just an endless slaughter in the miners. Never have I seen this before, with gold on the edge of all time highs.
Newmont continuous new lows.
Click to expand...
How else will the banks be able to purchase mining affairs for a song?
 
The only shimmer of hope I see is the fact that silver is holding up nicely, going sideways the past few weeks. As dismal as the miners have been, I would expected silver to be below 20.
Friday is options expiry in stocks. I'd guess we see some continued price fixing for the rest of the week. Next week will free things up.
 
You must log in or register to reply here.
Back
Top Bottom