Goldtent TA Paradise

Closing In On That Correction

1. Karl says:

   July 21, 2020 - 2:21 pm at 2:21 pm

   Excuse me if I go off on another tangent.

   It is an odd market today in at least 2 senses.

   First, many of the PM stock prices (with exceptions), certainly the Au stock prices but even probably the Ag stock prices have not risen as much as they might have in view of the pronounced quoted metal price rises. This disparity often means a pull back, if only a brief one, in the metal prices.

   Second, there is a pronounced dispersion of price changes with PM stock prices. By that I mean that they are not tending to move together. Even if you take Au stocks together or Ag stocks together, or producers or explorecos, in a solid up market they will tend somewhat more to move in lockstep, or at least groups of them will move together. Today even within a group are jumping way up, others are not. I have not studied rigorously, but I have that impression. It is a disorganized-acting market, an untrustworthy market for now IMO. I think one ideally holds what one wants to hold if things go up or down in the short term though things are pretty likely to go up in the longer term. Higher quality is always nicer than lower quality, whether it is holding PHYS or CEF as opposed to GLD when possible, a solid producer as opposed to a not so solid one, a great exploreco vs a questionable one where one is playing the tout, etc.

   My impressions to myself anyway just now having looked at a lot of prices today. Odd market with not enough stock prices on the average up enough.