Goldtent TA Paradise

Ready or Not Ready ?

1. Fullgoldcrown says:

   October 9, 2019 - 12:32 pm at 12:32 pm

   There is ABSOLUTELY NO INTEREST in Micro miners.

   None Zilch Nanda

   They are all trading a few hundred dollars to a few thousand a day….which can move them 10% either way but this is insignificant

   Pathetic !

   Makes me think we are no where near a real solid bull move.

   • Karl says:

     October 9, 2019 - 1:04 pm at 1:04 pm

     You are right, but there are some footnotes and asterisks.

     A sudden rise in the price of the underlying metals and then all of a sudden lots of people would be enthusiasts, posting charts and stories of their favorites, which would have gone up suddenly on markedly increased volumes. It would be as if no one ever remembered ever having been anything but enthusiastic. We won’t know when that day comes until it comes. There’s no guarantee that it will come, but it well might come sometime, possibly by surprise.

     There will be occasional exceptions in a quiet market or down market where a legitimate or illegitimate story provokes a lot of buying by the relative few with potential cash and interest. This or that exploreco will have heavy buying here and there. (Also some heavy selling with some extremely bad news, legitimate or not.) Some company will have astonishing drill results. Some prominent newsletter writer with a following more devoted than wise will issue a pronouncement that one just has to buy (or sell) this or that and right now or else risk missing the boat to whatever these boats sail to.

     If nothing much happens soon in favor of the metal prices, if any people or institutions bought in the last month or so or even in the past couple of years at higher prices we could see some painful decreases in prices with tax loss selling. I don’t know that the volumes would be great, but the (negative) price changes could be.

     We will see. But the gold price does seem to stick to around 1500 at the moment and the micros and nanos don’t do very much at least positively right now. Yes, you are right for this particular fraction of time.

2. Patrick says:

   October 9, 2019 - 2:03 pm at 2:03 pm

   Still needs more time to marinate… https://goldtadise.com/?p=450214

3. Karl says:

   October 9, 2019 - 3:23 pm at 3:23 pm

   What I don’t like one single bit is that today even more than some prior days when I look at prices of individual companies I see red. Solid citizens too, like Wesdome (which I own) and at least earlier KL (forgot to look just now, but earlier it was down.

   To be sure our friend Canamex was up in the US 218.75%, up to US$0.0064, according to Fidelity just now, and on a grand volume of 933 shares.

   I may have to go back to Fidelity to sell something that was flying amazingly high before it turns into a loss. I don’t like the way things are looking, and supposedly gold and silver have been up.

4. Karl says:

   October 9, 2019 - 5:38 pm at 5:38 pm

   You all are not commenting so as punishment for not contributing good stuff instead you’ll have to see my blather even if you don’t read it.

   I think it is downright creepy. Stuff like RGLD going down today. Stocks with recent good news going down. Lots of things going down. Too much commentary here and there about the incomplete bull flag. It’s true that it could prove to be a real formation if completed and the prices move above it. It is true that any number of long term and intermediate term trends are up. It is true that there are various indications that central banks and private institutions are buying gold. It is true (in my opinion) that if you don’t mind a tough ride and you have plenty of cash for expenses you do fine holding even if there’s an upcoming mini-cataclysm and looking for bargains to nibble at can make plenty of sense.

   But there have been so many days recently when prices have been down. There are so many charts that on the short term are not nice looking, or are just barely ok, barely, barely, barely. We recently saw the “breakouts”. Tax loss selling could bring on the break-downs–what with equally poor liquidity in the micro and nano caps. The seniors could get hit if the institutions that aren’t used to holding PM stocks do their herd stampede out. A margin crisis or liquidity crisis somewhere could cause problems too at least for the near term. It’s quiet but perhaps not stably quiet.

   So I think it’s creepy. I don’t know that it isn’t going to stay flat or go right straight up. I just don’t like it and I sold a little more today–partly for tax reasons and partly to simplify my sprawling portfolio, but partly to be prepared in case tax selling season is unpleasant.

   Not that I don’t think the prices are going to stay down if they go down. They’re almost certainly going up, and probably way up in coming years. The long-term trends are up. Enough blab.

   • Fullgoldcrown says:

     October 9, 2019 - 6:15 pm at 6:15 pm

     Nice Blab Karl

     I agree..Don’t like the action at ALL

     sheesh

     • Karl says:

       October 9, 2019 - 7:49 pm at 7:49 pm

       Thanks.

       It’s true that you don’t want to short a quiet market etc etc, but Canamex can’t keep valiantly holding up the precious metals stocks all by itself and it’s a little bit of a drop below much as it’s big blue sky up above..

       By the way, is there any consistent pattern to the way the “micro miners” behave or beginning around Canadian Thanksgiving, which I’m assuming occurs this year again when we have Columbus Day?