Loading ...MayDay MayDay – The May 2nd MASSACARE!
Today should end up in the financial history books. It could well end up going down as the MAYDAY MASSACARE of 2022. Generations to come will remember this as the day when gold and silver and the related mining stocks were clobbered early on and led to the greatest buying opportunity in precious metals market history. By the end of the day likely, by the end of the week, most likely and by the end of the month of May, almost definitely, gold and silver and the miners will be higher, much higher and significantly higher than where they are at 10AM on Monday May 2, 2022!
I like your optimism CM
But what is the basis for this call ?
Everything lines up. Sentiment, chart, basically two week straight drop in gold and silver. Oversold. Seasonality, FED meeting. All technicals and fundamentals point to a bottom. The pace and timeline of the turn back up, as yet unknown, but the risk/reward at these levels is outstanding.
I saw $1853 as a potential/possible low target but couldn’t believe we’d get there. But here we are. Spent my last dollar buying calls – AUY, GOLD and UNG
June positions so some time. But one either believes TA or one doesn’t
“believes TA or one doesn’t”
There are many kinds of TA.
A good many work fairly reliably, until the market regime shifts.
Then they fail consistently. (I people then can’t figure out what’s going on.)
We just had a regime shift.
I don’t see a bottom here, and any bottom we do get anytime soon will not last more than several weeks.
Action in the PMs is poor. No sign of capitulation
I’m flat.
Thanks for the chuckle.