Buy & Hold Silver & Gold
I would suggest that no one sell or take profits in silver and gold before next Wednesday May 27th. Why would you take the chance that something crazy might happen with next Tues. the 26th being the close out for this month’s gold & silver contracts. Almost everyone on this site believes in physical precious metals vs. fiat. Even if you are just a scalper or trader why would you give up the possibility of a huge upside (even if the odds didn’t favor such an outcome, I argue the OPPOSITE) just to avoid a correction. Most, I believe are at least intermediate traders or long term investors. The precious metals bull market is either early innings or just started depending on when you believe it actually began. If I am wrong about something big next week, I am going to use any pullback that might occur if nothing happens, to BUY more of my favorite vehicles, CEF and MAG on any weakness.
What day is options expiration on the Comex? It always goes down.
Options expiry for May on the gold stocks has already passed.
Pray tell, Chartsmaster – I’ve been very tempted to take at least half of my holdings off to lock in some good profits. But am still holding (I’m not a very decisive guy, entertaining multiple scenarios every time I look at my PF.) But your statement intrigues me. Is there something special happening on May 27 that I missed on this site? Or do you know something we should all know?
Thanks in advance, and forgive me if I missed an earlier explanation.
I don’t know anymore than anyone else. I do read and follow and believe that most of the paper contracts on the COMEX (and LBMA) don’t have the physical metal if delivery is requested. Various analysts have presented the case that the premiums and spreads are indicative of a problem. Any month when the contracts mature could present a problem. We shall see.
Right. Got it.
I COULD NOT AGREE MORE CHARTMASTER !!!
We are at the verge of a historic bull market in prescious metals !
I am not here for a quick buck ! I am in it to win it !! and I am expecting life changing gains !!
Relative to sound money (Gold) the mining complex was at a historic low in JANUARY 2016.
It was the low of the century – or the low of a life time !! It has still not reversed to the mean !! Not by any mesure !!
THE REST IS NOISE. PERIOD !