Loading ...Tired ?
I don’t know, but from some angles, the gold/silver charts are starting to look a little ‘tired’. After such huge gains, I feel a little uneasy. The market loves to surprise, so maybe $2100 gold, $30 Silver and $54 GDX will have to wait. Made some great profits from this run, so I’ve just (in the last few minutes) locked them in and taken them off the table. That amounts to about 25% of my PF.
Any prudent, nondelusional trader should say “well done.” We are in nose bleed territory on many indicators and while we could certainly go higher in the short run with FOMO money, I don’t think you can count on the durability of further gains from here.
You are correct viewing it with a well conditioned bear market framework.
Not saying we go higher, however I am saying it is entirely possible we do. As mentioned before silver has the market structure for allowing a Saturn-5 type market launch.
I agree. If I used margin I would play this bull by keeping a core position of 100% and just adjust margin by adding on significant dips and selling some on significant spikes.
Took some profits today. Sold 8-9% each of my ASM and ANXGF holdings. They were some of the best performers in my portfolio.
The last three times I tried for price improvement I ended up with less shares. No trading for me.
Try watching gold silver and not the miners.
Silver miners peaked 2 weeks ago vs silver. Suggesting at least to me that the gains in bullion since then have been nothing but fluff that will be sacrificed very quickly once a swing high is in. I hope I am wrong as I am holding onto a 100% position, but I am prepared to sit through a 30-40% drawdown. I highly doubt most investors in the sector would tolerate that.
Interesting observation. Hopefully it is just a flag in the ratio.
AG:slv is actually breaking down below Ichimoku cloud support on the daily chart today. It is already oversold vs slv in terms of stochastics, but that is not very auspicious this late in the cycle. It doesn’t look very healthy. If this were happening early in silver’s advance, I wouldn’t think that much of it.
Maybe this is some sort of fake out before a moonshot. Who knows.
Yes! I use the slingshot/takedown that we see before moves.
Gold silver have not closed their opening gaps unlike the volatile miners.