Loading ...Pretty tepid response
in the shares. Disappointing, to say the least.
Perhaps a false move/head fake?
As usual, tough to make money in gold/silver.
Or perhaps too many have learned the lessons from the past: gold and silver will retreat along with the shares? As they have for so loooooonnnnnggg.
Yup, shares giving up gains already.
Sigh
Example: SILJ up a whopping .07
Make that .06
Off to the races!!! (sarcasm intended)
yup, some even going south. margin calls for the drop in general markets is all I can figure . They need big war to blame bank failures and debt default so I do not think this is over by a long shot.
Going from $1970 to $1935 suggests gold is saying (along with silver) the war in Ukraine is a non-event. A fast collapse, for which gold is famous. Big fast gains NEVER last long.
this is in line with my views ATM
$GC hit the 200% ext for iii of C and the 123.6% ext of (3) already, but should still hold 1900-1850s as a iv and get a vth of C into 2000s.
https://t.co/NdR02jgA3h
“vth of C into 2000s”
So will that be Taiwan?
XLE down 1.5% too, oil stocks in the same boat.
Since the low in 2016, the miners have spent what feels like 80% of that time going down. We basically got three 6 month rallies during that time (admittedly huge moves) and the rest of the time they have just bled. It absolutely sucks. This bull is absolutely nothing like the one from 2000-2012, which more or less was a clean uptrend (save for the 2008 crash).
I was not expecting a large move in the miners to occur until March based on Ichimoku clouds, and it could start as late as the March FOMC meeting.
Gold has broken above the 400 week upper bollinger band (at $1927) today. If it closes tomorrow above that level, I would expect gold to continue upwards over the next couple of months to tag the 200 week upper bollinger band, which is currently at $2092.
Today was gold’s “sell the news” day. I am not expecting much to happen between now and the March FOMC. Most like a correction, IMO.
PM’ losing their early gains, but the $US is challenging its January highs.
$US is up 1.37% at this moment, and climbing.
Sir SilverFox,
Isn’t this precursor (rise in DXY) needed before the Fed says “no rate hike”? That’s the biggest discussion today … war is Fed’s latest reason. God forbid if Taiwan also happens.
As far as my own portfolio and the evolving perspective on juniors versus big names like MAG … well I’m happy with holding 25302 VIPRF (@ 0.43329 apiece) and zero MAG.
GL
Crude pop has reversed completely now too.