Goldtent TA Paradise

GOLDHOG DAY

1. Nautilus says:

   March 23, 2023 - 12:29 pm at 12:29 pm

   Can we call this a slanted cup and handle formation?

   I have no idea if that is a legit pattern, but a break above the slanted rim (which price is currently hitting) would project a price target of about $2200.

   • Fullgoldcrown says:

     March 23, 2023 - 12:44 pm at 12:44 pm

     Sure…Rambus shows these all the time…you got it

     it’s a Chartology Principle

2. Gold Learner says:

   March 23, 2023 - 12:53 pm at 12:53 pm

   As I ponder over my numerous replies on this forum over the last 3 years or so, I realize I am somebody who has hardly any “original thoughts” rather I just echo others whom I agree with.

   I’m not an inventor, not a leader, but a learning follower.

   So here are some echoes:

   Gold is a currency, not a commodity.

   Therefore talking about gold at 2200 USD is useless.
   Which USD? Circa 2023? Or Circa 1980?

   If gold is at USD 1993.6 right now in 2023 dollars, what is its breakout level measured in 1980 dollars?

   Once macroeconomics takes hold, (as if it left hold ever, LOL), the delayed effect will be much more powerful. Basketball submerged in swimming pool etc etc.

   “In economics, things take longer to happen than you think they will, and then they happen faster than you thought they could.”
   Rudy Dornbusch

   When markets do a trend reversal, it is vital to also change the mindset. One can not trade a bull with a bearish mindset. If you constantly doubt the bull, you will not be able to change mindset. You have to believe in the bull or you end up being a victim of the wall of worry.

   https://twitter.com/graddhybpc/status/1623609334738329600

   GL

   • traderfromhell says:

     March 23, 2023 - 12:57 pm at 12:57 pm

     The price of everything is in the charts inflation included. Lots of broke traders looking for their asset to reflect inflation.

     • Farmer says:

       March 23, 2023 - 1:18 pm at 1:18 pm

       Great answer Trader. Perfect actually.

       Here is a chart you might like Goldlearner. It shows you historical gold prices in inflation adjusted terms. The current price is just as you see on your screens but when you look at the 1980 highs it reports as 2600 dollars! That is far more than the nominal price of the day obviously but is an indication for us that current gold prices have still not come near that grand daddy of a price high.

       https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

       • Kewl2 says:

         March 23, 2023 - 1:46 pm at 1:46 pm

         Nice chart!

   • pedro_deleon says:

     March 23, 2023 - 2:14 pm at 2:14 pm

     “In economics, things take longer to happen than you think they will, and then they happen faster than you thought they could.”
     Rudy Dornbusch

     Rudy was the best.

     • Gold Learner says:

       March 23, 2023 - 2:25 pm at 2:25 pm

       Thank you Sir Pedro.

3. Gold Learner says:

   March 23, 2023 - 12:56 pm at 12:56 pm

   Had I not visited this forum, I’d not have “learned” (for the millionth time), what great contributors were once part of this forum.
   With utmost respect to this forum and its members, I followed them on Twitter.
   They were not wrong.
   Not everybody knows how to articulate.
   Not everybody knows how to be patient.
   Not everyone knows how to be polite when the other party is just being a jerk.

   This forum lost so many great contributors because they did not “get along” with one or more other contributors.

   Thank you.
   GL

   • Fullgoldcrown says:

     March 23, 2023 - 2:05 pm at 2:05 pm

     I submit we have the best Roster right NOW that we have ever had

     Most those that left cut their TA teeth here.

     We cheered them and encouraged them and they found their wings and flew the Coup.

     Personally wish them well but don’t miss thier interaction one bit . Some real miserable turds there.

     Never look back…always look forward ..the best is yet to come

4. Fullgoldcrown says:

   March 23, 2023 - 12:57 pm at 12:57 pm

   You have to believe in the bull or you end up being a victim of the wall of worry.

   Right

   and some Bulls are Patient while others want it ALL NOW …thats me…patience is for sissies

   

   • Gold Learner says:

     March 23, 2023 - 1:17 pm at 1:17 pm

     ALL NOW is good, provided the ALL is SMALL.

     If you have 5 PM seniors in your portfolio, what is the mathematical probability of rotating realized gains during uptrends? Selling some at or near highs (52-week or 26-week) and rotating your proceeds into those near 52-week or all time lows?

     If you have 20 PM mid-level producers, some even profitable, what is the mathematical probability of rotating realized gains during uptrends? Selling some at or near highs (52-week or 26-week) and rotating your proceeds into those near 52-week or all time lows?

     If you have 50 juniors, some small cap and some micro cap, what is the mathematical probability of rotating realized gains during uptrends? Selling some at or near highs (52-week or 26-week) and rotating your proceeds into those near 52-week or all time lows? Much higher!

     Can you handle 100 plus juniors? what is the mathematical probability of rotating realized gains during uptrends? Selling some at or near highs (52-week or 26-week) and rotating your proceeds into those near 52-week or all time lows? Highest!

     Now, portfolio is spread across the haystack, 2-3-4% of total portfolio in each junior, with rotation that allocation may grow or shrink.

     ##########################

     I wrote about being contrarian of a contrarian: Now here’s the kicker: Be so much of a contrarian that you trade the PM bull market using the conservative strategy of a BEAR market planning.

     Let me echo someone else now.

     This guy is ridiculed whenever he posts on ZeroHedge

     He has been called the biggest broken clock.

     He’s a great teacher:
     Care to guess who’s this? Let me post the best part of his free report

     ######## Begin ######################

     During this Bear Market, your largest position should be in cash.

     Write this on a post-it. Put it next to your computer. Do NOT forget this no matter what
     the circumstances.

     DO NOT get persuaded by ANYONE to think otherwise. There will be countless situations in which
     you begin to feel as if you’re missing out on a market move… or perhaps some growth stock is ripping
     higher… or perhaps someone is claiming they’ve found the “next Big Short” or that it’s time to go “all
     in” on some trade.
     IGNORE all of that. Keep most of your capital in cash no matter the temptation to do something.
     If you do feel the need to trade right now, keep positions SMALL.
     Why?
     Let’s say you have a $100,000 portfolio. And let’s say you’re down 10% on that portfolio due to the
     Bear Market so far. This means you have $90,000 left.
     Not, let’s say you move 85% of it to cash as I recommended. This means you’ve got $76,500 in
     cash and $13,500 in trading positions.
     So, your #1 position is cash and you’ve got 15% of your portfolio available to trade.
     Any trade you make under these circumstances should be limited to $2,000 or smaller.
     Why? Because your total portfolio is $90,000 and $2,000 is a little over 2% of this.
     That is a safe means of trading without wiping yourself out. You’d never take a position that loses a
     total of 100%… you’d sell before then… so you’re taking steps to make sure than even if you are totally
     wrong on a particular trade, your TOTAL CAPITAL never takes a bad hit.

     ######### End #####################

     GL

5. Kewl2 says:

   March 23, 2023 - 1:55 pm at 1:55 pm

   $2,000 – 10:54AM PST

   • Fullgoldcrown says:

     March 23, 2023 - 2:01 pm at 2:01 pm

     Which Platform are you seeing this K2 …Futures ?

     I watch Spot

     Anyhow …Good EYE…You win the Prize

     Last guy that won Chris…won me…a Visit…but he is in Ontario.

     I dont expect to see Commie BC any time soon…so come on back east and i’ll buy you a beer

     

     • pedro_deleon says:

       March 23, 2023 - 2:17 pm at 2:17 pm

       I have kitco’s on my task bar.
       So its always in view. I have a Win7 task bar, that’s readable.
       Have on my Win10 also, but its too small to read the quotes. I can only make out green or red.

       https://applications.kitco.com/product/windows-taskbar