Loading ...The Empire Strikes Back
ITS ALL The DOLLAR’s FAULT
EVERYTHING IS DOWN HARD
Stocks Bonds, (Interest Rates Spiking), Commodities (like Gold Silver Nickle Copper Oil Lithium Cobalt and Pot)
all because the US Dollar is Fighting Back a wee bit….4 hour chart
If you took the symbol label off the $’s chart, and looked at a daily, without knowing what it is, would you even consider going long based on that chart? Would it look like anything other than a dead-cat bounce of an equity destined to trade down to at least .85?
could be a double bottom….but that’s only speculative….the panic is outrageous and ubiquitous.
It only looks like a double bottom on the 4 hour. Daily, weekly, it looks terrible, and just getting started. Broken through last support and well into the thin zone. If it was a stock I wouldn’t touch it with a ten foot pole.
I remember the same battle in 2004/2007 time frame, and suddenly the miners started to bottom when the metals continued to slide. Will that happen again? Who knows, but several quality stocks like GOLD, SSRM, AEM, NEM, PAAS, CDE,… are very resilient today. Therefore do not invest too much in juniors, as volatility can be very high, and investment flows are too much retail oriented. I love to be invested in junior silvers like DV, MGG,… just to name a few, but the volatility is sometimes hard to handle.
dollar looks like sideways consolidation and itchy trigger fingers of the johnny come lately players. Major gold companies always rise first and then the juniors and explorers get some crumbs later until full mania. The fed will stop interest rates at 2.75/ 3, print and pump
Reefer madness everywhere. Could it be a celestial hangover from the super blue blood full moon?
Madness? Why? I see several companies like NAK, IVN, SBB, PVG coming down hard, but maybe they had run too fast or have company specific issues like grade problems (PVG), Royalty hike in Congo(IVN), fully valued (SBB), or other stuff. So where is the madness, just the retail or trend following people selling everything gold related as charts look ugly. Who said you could trade gold based on charts (for daily moves I mean), as It always has been easier to make money to buy weakness and sell euphoria.
“fully valued (SBB)” Why?
Base on $1250 gold analysts valued SBB at 2.6$ target , based on 1 times NPV of $500 million. Of course at current level becoming attractive again.