Goldtent TA Paradise

GDX… breaking out

1. Nautilus says:

   November 10, 2021 - 2:55 pm at 2:55 pm

   Disappointing day overall for me. A couple of my largest holdings (silver miners) are actually down at the moment or slightly positive after having been faded mercilessly a short while after the open.

   As usual, basically impossible to trade miners. They are probably down in sympathy with the US stock market. They could trade that way until the Fed acts, maybe implementing something like yield control.

   We will see how the day closes and more importantly the week. I’ll say it again, you can hope for the best with these stocks, but you better prepare for the worst, because that’s invariably what we get, time after time.

   • Leftenant1 says:

     November 10, 2021 - 3:27 pm at 3:27 pm

     Big gap up but the gaps up on many of the stocks are now filled. I sold about a third of my PM stocks shortly after the open, wished I’d have sold them all. With the exception of one time, every time I sold on a big gap up it always paid off, I was always able to buy back at a lower price after the gap was filled, usually the gaps didn’t get filled on the same day like today.

     • Nautilus says:

       November 10, 2021 - 3:51 pm at 3:51 pm

       Gaps on many filled but it looks like we are going to be left with nasty looking reversal candles. I am pretty much certain tomorrow will see some follow through to the downside. I would really like for today to be a head fake reversal and maybe Friday we can bounce back, but that is simply down to hope which isn’t a winning strategy with mining stocks.

       Anyway, I should stop watching these things day to day as it is just frustrating.