Goldtent TA Paradise

GDX … hanging on for now

1. Todamoon says:

   October 23, 2019 - 11:06 am at 11:06 am

   Head and shoulder pattern – big volume on sell days and minimal on buy days –
   Not really a good sign for the etf- or miners PO is 23 for this one

   • North says:

     October 23, 2019 - 11:38 am at 11:38 am

     Does look bearish.

2. Peppermint Patty says:

   October 23, 2019 - 12:17 pm at 12:17 pm

   It looks bearish, and logic says bearish, but sentiment has now shifted too bearish, IMHO

   • North says:

     October 23, 2019 - 4:51 pm at 4:51 pm

     Okay, Peppermint. I will keep that in mind too. Not easy to decipher what is happening. I wouldn’t want to see it diving out of this triangle.

     • Karl says:

       October 23, 2019 - 7:29 pm at 7:29 pm

       No one probably needs my opinions, but you get them anyway.

       The 2 comments above by Peppermint Patty and North I think are exactly right.

       How to handle things depends on one’s situation and temperament. Being in cash is good for many. Cleaning out any questionable holdings and judiciously buying stronger stuff while holding cash is one other.

       [Digression: Trying to clean out the junk from the portfolio if you (like me) have accumulated penny stocks is time consuming. It is a wonderful reminder to find how hard it can be to sell these things without depressing the price even when you don’t own much and the price hasn’t collapsed (yet). It may turn out that there aren’t as many potential buyers as you might think. If I were smarter I would have come up with a formula limiting the # of shares I could buy as a function of eye-balled median trading volume over the past year or something like that. No enthusiastic buying even of the attractive ones maybe.]

       • North says:

         October 23, 2019 - 7:36 pm at 7:36 pm

         Been tossing a couple out myself, Karl. 🙂

         • Karl says:

           October 23, 2019 - 9:42 pm at 9:42 pm

           You (or at least I) get lulled seeing, say, 20,000 shares routinely traded of your 0.12 stock. 20,000 looks like a big number, the market looks liquid. The 10,000 shares bid looks like a big number. Then you realize that your 30,000 shares is a much bigger number. Even though the dollar value is not massive at $3600, the way things have been trading these past weeks, you aren’t going to sell all your shares at 0.12 at least in one day with a single commission. The bids may dry up. If you try to sell in one day in the recent environment you will end up affecting the chart with your puny sale, and even maybe if you try selling over successive days. This is if you do it in Canada. If you try to sell in the US it is often worse.

           When I say “you” I mean “I”–I have had this experience occasionally though not typically. (I should make a mental note to try to sell things all the time–it gives a sense of how strong the markets are for these things.)