Goldtent TA Paradise

Miners Want To Go Higher, But…

1. Plunger says:

   July 22, 2020 - 12:09 pm at 12:09 pm

   All very nice charts. In addition I track days of uptrend and my work is calling for a top in here beginning today. It could and likely will go on for a few more days, and I am keeping a residual long position, but I have exited over half of my positions and booked the profits. I want to be able to load the truck from lower levels to take advantage of the fall seasonality from Sept-Dec.

   You know what Baron Rothchild said when asked what is the secret of his success…. ” It was selling early”

   • Northstar says:

     July 22, 2020 - 12:44 pm at 12:44 pm

     Thanks Plunger. That eases my mind a little – doing the same here 🙂

   • Silverhawk says:

     July 22, 2020 - 1:49 pm at 1:49 pm

     How deep do you expect the pullback?

2. Noman says:

   July 22, 2020 - 12:59 pm at 12:59 pm

   Me too. When GLD hit the top of my 30 min channel at 175.80.

3. Noman says:

   July 22, 2020 - 1:02 pm at 1:02 pm

   Party Time!

4. Karl says:

   July 22, 2020 - 1:25 pm at 1:25 pm

   For many things in life there is a saying each way.
   “He who hesitates is lost” “A stitch in time saves time” vs “Haste makes waste” etc.

   Similarly in investing and speculation
   “It was selling early” vs “Sit tight and be right”
   “Buy low and sell high” vs “The trend is your friend” and so forth.

   Some people will do well following a given adage and some will do poorly. Some will do well following one and then the other depending on circumstances and probably using both one and the other simultaneously in different markets. I remember an interview with some guy, supposedly a successful money manager who relied on automated systems, who said it was rather common for him to have two programs for two different accounts taking opposite positions. Same sort of thing.

   These are dynamic unstable systems unsuited for dogma though the sayings sound nice and can be pleasant reminders to be aware, to think, rethink, and to be attuned to intuition, if one uses intuition.

   (I do think taking partial profits is often a nice thing to do, and it is good not to be so to speak overly heroic in positioning unless one has kamikaze tendencies and am personally not totally committed.)