Loading ...gold miners update
Quick update. Last post I highlighted I think it was prudent to be cautious and wait. Well the 3rd 7 day cycle has failed on day 3 (today), so we likely have 4 more down days to go. It’s still somewhat early in this daily cycle, so it could just be a half cycle low coming up.
Still out, waiting, no need to rush in just yet. Northstar has been posting a lot lately that his gold and silver calls have been spot on and to prepare for the surge upward. Not a good sign for gold bulls.
lol
Thanks For keeping us Updated Gus
You are a Rising Star at Goldtent TA Paradise.
Using a Former Hasbeen Goldtenter Northstar as a contrary indicator is good for a LOL
🙂
Appreciate it Fully, been getting lucky so far. Still on my shorts of us markets, still holding ENCC (hopefully this one will stick for many years to come if I timed this right), but I got stopped out on my natgas trade. Watch natgas absolutely launch now!
Can you explain what this covered call ETF is ? Is it leveraged to Miners ?
Does it have volume ?
Will those gaps be filled ?
It tracks the mining stocks, but also is somewhat managed (with still a pretty low management fee) to write covered calls to generate a yield. The yield is quite juicy, and they must do a decent job because it doesn’t decay much.
I enjoy it in my RRSP account (with ENCC for oil and gas producers) because they will print new cash that I can add on lows. Ideally it will generate some nice income for me in the 20-30 years from now when I retire. If I can time getting into GLCC with the 9 year cycle low maybe it will be earlier than 20-30 years from now 😀
Here is the link with all the details.
https://horizonsetfs.com/ETF/glcc/
I just closed a large portion of my short spx and nasdaq positions. I think a bounce is very possible here. This might be your backtest on the qqq chart Fully.