Loading ...Weekly Break Away Gap
On the GDX GDXJ we have a rare break away gap. In my experience these come at the beginning of what Rambus calls impulse moves. You borrow money, mortgage the house, take a cash advance
against the credit card, get a SBA loan and buy buy buy. Chase if you have too.
Agree.
Normally they last two to three months and if your position right, I’m in SILJ and JNUG, your account goes up 150%. Then you get out and wait for 5-12 months and it happens again.
This was the pattern in the early 2000s PM bull.
Great Advice Noman
The last weekly break away gap in PMs I remember stayed UNCLOSED for years
2013 …AND IT WAS A DOWNSIDE GAP
http://schrts.co/FyBDgRpy
I think you’re crazy. That kind of money deployment typically has its ass handed to em.
exactly, this guy posted his extra special sell signal was trigger last week and he exited all positions and bought JDST. No post eating crow or saying he was wrong, just a comment a few days later in someone else’s post saying “oh yeah, I am long now”. Now he’s advocating retarded leverage by using credit cards, SBA loans, etc? Very reckless and stupid advice to put out there.
Ouch! As said I have a hold portfolio that has been long miners since 4th qtr of 2018. I have a trading portfolio that trys to beat the hold portfolio. It rarely does. When I post I am talking my trading portfolio. I don’t believe that Silverhawk has ever posted a trade. I am a professional trader who posts my trades. I am trying to share decades of experience but perhaps as I have said before this might not be the right place…
No, I post chart patterns I like such as SILJ inverse H&S. My goal is longer term trading, riding a bull market. I don’t mind you posting trades, but you should post if you contradict your pretty adamant calls such as the one last week. Are you sticking by the call in this post telling everyone to raise cash with credit cards, loans, leverage etc? Of was that just hyperbole to point out the import of the move?
It was hyperbole. I never even considered that anyone would. Interesting.
You can see most of us here didn’t interpret it as hyperbole. Plunger said you were crazy. Maybe you need to be more specific down the road, thanks
Clearly hyperbole and not a recommendation. Noman has not lost is mind.
You may be right, but I dissent. I do have the relative advantage of arguably being dangerously overinvested in gold and to a lesser extent silver stocks from far, far lower prices and holding enough cash for months, though perhaps less than I should.
As I indicated a few days ago, when I looked at a simple weekly 2 yr gold chart I saw it moving up steadily, maybe accelerating slightly.
Silver on an equivalent chart was overall not trending up over the 2 yr period. It trended up fast only recently as if possibly heading for an exciting blowoff. Many (not all) PM stocks (gold and silver) have similar patterns. Non PM stocks, some of them, as well.
To me, the situation is most ambiguous. One possibility is the usual beginning-of-the-week down after an early morning tease this morning. Then we continue going up on everything. Then silver blows off over the next weeks or months (maybe many months) along with all the PM stocks, somewhat taking gold with it, much as stock market blows off with it. Gold and gold stocks may temporarily sink as silver and the stock market collapse, but gold is more likely to continue rising afterwards. Just one scenario of many.
I think it is fun while it lasts (I do hope it lasts) but I am not so sure one way or another, especially when it comes to anything other than intermediate to longer term price of gold and the better quality gold stocks. Not my preference necessarily.
Multiple scenarios seem possible and worthy of consideration.