Quick Comment On Gold Stocks
Not that I haven’t been completely bullish, but seeing some comments the last two days by others disappointed by the reversal yesterday and the action late Thurs that forewarned what was likely on Friday. It was just a quick backtest. Last eve. when I checked what happened in the market for the gold stocks I was pleased but not surprised that many of the miners either recovered much of their losses from earlier in the day and a number were actually up. Some of the key leaders I look at were up for the day despite the sharp initial backtest. We are going higher next week. Volatilty will continue with all the statistical releases and the meeting at the White house on Tuesday regarding the debt ceiling. It is designed to shake you off the bull. Get on and hold on, no matter what. All dips are BUYING opportunities.
In case there is someone out there who doesn’t understand this concept….Need to add …This is opinion..NOT investment advice
In this day and age Disclaimers rule
see Goldtent disclaimer on the Sidebar
I do not agree with you, Sir Fully.
Because, I “tend to” correlate Sir CM’s post with Math.
My portfolio went up more on Friday than on Thursday.
Do you see the “hook” on some juniors’ charts? The hook is the tiniest resumption of the uptrend after a backtest. (The backtest was good and needed, and the hook happened at a higher low than the previous low and/or the 52-wk low). I’ve used this hook as a strategy to add and cost average down, because I believe that the all-time lows are behind us.
Sir Spock also noted a bowl on AZASF. Even in a bowl, when the uptrend resumes, and a backtest happens subsequently, the completion of the backtest to the upsloping arc of the bowl will look somewhat like a hook.
Sir CM, is his reply to my post on Strikepoint yesterday, considered many juniors as lottery tickets.
Just like math and science are based on probability, the chances of winning a lottery increases if you have MORE tickets.
This is NOT opinion.
Respectfully,
GL
GOLD LEARNER..RESPECTFULLY…You still have something to learn
My comment is to protect MY ASS and CMs ASS
I have a lawyer friend who helps monitor the site and he said posts like this TELLING people what to DO rather than suggesting what The poster beleives and is doing can lead to LAWSUITS !
This comment is a disclaimer…WARNING…anyone who takes this as Investment advice is wrong…it is NOT investment advice because CM is NOT a registered licenced Investment advisor
He is a valued poster at Goldtent where we discuss trade ideas BUT do NOT give investment advice because that is ILLEGAL !!
I hope you now understand my comment
Thanks for the timely reminder Fully. I agree with you and will take extra care with my own wording to ensure its clearly stated my views are strictly opinions and not trading advice. We all needed this reminder since gold is often an emotional subject and assertions can run wild when our egos and pride about calls feel threatened.
Thank you.
Understood your drift.
GL