Loading ...BRUTAL
Everyone is putting on a brave front here …calling Bottomz ( like me)
But no one has called this what it is…Absolute carnage in the PM Sector…while ALL other Sectors are screaming higher
We are getting Killed…there is no sugar coating this…Annihilated is another word
I sold every damn Rock last week thank goodness but still hold some majors.
We are closer to a bottom than a top…but this is a freefall.
sheesh
Exceptions …
New Gold Inc (NGD) … up about 6% from intra-day low, in the green for the day.
And paying down debt with cash in hand. Despite still not being profitable.
Any detailed TA on NGD?
I’m glad I have such solid companies in y portfolio.
This (downdraft) too shall pass.
GL
Not sure if selling juniors and/or micro cap rocks is the right call, Sir Fully!
How many rocks fell 20% in the past week? The past two weeks?
I see MGMLF, Maple Gold, one of the (my) star performers has already reversed into green today, on heavy volume, nonetheless.
It seems more and more like a shakeout of the weak(er) hands.
Again, please share some names, if you can, of rocks that have been obliterated as of today, that you sold last week.
What am I missing?
GL
I have to agree with GL. It seems the majors are the ones getting destroyed. Some of my rocks are down and disappointing but a few others have held up well and VLMGF is one rock that is holding like a “rock”
My only entry into VLMGF is at 0.34377 per share. So I haven’t made any money in that one … yet. But I don’t really see any reason to sell any rocks now.
Heh Fully, what happened to the poll I suggested last Fri?
My answer at the time was “no way Jose”.
And that’s still where I am, and will remain in all likelihood, for a few more weeks yet.
What I don’t know is whether PMs won’t bottom til Gen Mkt tops, as I have that not happening before Feb. I DO expect a market scare soon. An ending diagonal wave 2 for those who read EW. And PMs could bounce (temporarily) with that.
There’s also news out of NZ last night that SHOULD catch on .. ZH reported on it.
Potentially very important news for all markets, if anyone ever clues in.
Need to see the response from NZ Central Bank first — they won’t enact unless BIS says OK and that would be a BIG shift in policy………
Gold & PMs formed a Descending Triangle after the Sept high and these patterns usually break to the downside.
https://www.investopedia.com/terms/d/descendingtriangle.asp
Actually the juniors are holding better than the majors. Obviously institutional money is fleeing
They will be back after we get a double in the indexes
But for now we should be near the end. This was simply yet another bullion bank smash prior too options day and delivery early December
Also depends upon what majors we talk about … e.g. Kirkland Lake … down very little today … heavily oversold on multiple (all ??) technical indicators.
All of these are buys in very small quantities each, but I’ve watched it like a hawk.
11/24/2020 13:17:23 Bought KL @ 38.88
11/19/2020 14:59:59 Bought KL @ 40.43
11/09/2020 11:48:47 Bought KL @ 44.49
08/18/2020 15:38:11 Bought KL @ 54.16
07/27/2020 12:00:04 Bought KL @ 50.20
What does the Tent opine on KL? Is it not as attractive any more, after its famous 40-50 bagger run?
GL
You answered your own question. Unlike the great growth companies,tech, biotech,etc. where they can come up with new products or have a business model that is subscription based, a miner would have to keep finding new monster deposits to be able to keep growing it’s market cap at such a rate. Not to say that if metal prices go high enough it can’t still show great returns. Just don’t expect another 50 bagger from the same company.
Also posting my prior reply to the thread on SVM … yes, that was a brutal shakeout! No choice today, but to buy some more, if you are in it for the next big up leg … we’ll see!
https://goldtadise.com/?p=481828#comment-80107
If SVM isn’t at Bottomz Inn, then what is?