Loading ...GO FISH ..FORTUNA
I bought this silver miner when Milei won Argentina…lucky I sold last week BUT
I don’t know about you all BUT I am DONE with PM Stocks
This is by far the worst Stock Sector in the whole Stock sector universe.
Unfortunalty those of us who rode the Miners up ( and Down (and Up ) (and Down) in the first decade of the 21st century have become addicted to them . BUT they are attrocious…a fools game
When I first strted to be interested in PM Miners The ubiquitous narrative was that If you like Gold…you will love Gold Miners
They are leveraged to the price ogfGold 3 to 5 X leveraged
It is true they are leveraged ..3 to 5 X when Gold is going down but when Gold is rising …NO Leverage for YOU baby !
Gold Stocks SUCK !
Admit it YOU addicts…It is OBVIOUS and has been OBVIOUS for 3 Decades
IF YOU had just bought Dow and Naz Stocks YOU would be better off !!
If you had just Bought GOLD..you’d have been BEST off
sheesh
right on Fully
put up our favourite “Who” song please
Onward Pilgrims is for Phyzz only I guess
The PM stocks have punished part of my PF
Winedoc
We Won’t Get Fooled Again Doc 🙂
Others who follow more closely may be able to confirm or discount, but I suspect that “share” price dilution has gotten worse over time. “They” want to get paid handsomely before letting the rubes in on any table scraps.
I’m also more concerned now than before that when the SHTF, given all the pending sovereign insolvencies, there will be much more pressure to nationalize mines over coming years (FDR style).
Absolutely Canada will nationalize not only Canadian mines but canadian mining Companies with projects anywhere
Canada has ZERO Gold reserves
This is the only way Canada can survive IMO
My bullish scenario hasn’t played out as predicted in the near term, at least for the miners.
While I am still bullish longer term, I am not going to dispense with the idea that the HUI will be more or less range bound between 230 and 150 until later this year.
I don’t like the fact that the HUI failed to hold the key 230 level recently.
Based on the weekly Ichimoku resistance, I would say a conventional reading would be that the earliest the HUI will be able to break above that 230 level now is the first week of April. If that doesn’t happen, it could end up being a very frustrating year.
All of the prime set ups I was looking at are basically gone now for the near term. Hopefully my dour outlook is a contrarian indicator.
It’s highly probable that GCC will touch its 200 WMA before commodities can get a solid rally. The problem is the 2020 rally stretched the longer term weekly bollinger bands (e.g. 200 weeks) so wide, it could take a year or two more of sideways choppy action before another up leg begins. The 200 week bands are only now narrowing in sharply but they are starting very far apart.
Stopped playing when, after losing just about everything, I realized miner stocks have no relation to the price of the metals. When the metals go up the stocks go up a fraction. When gold is at a record high and drops a fraction, the gold stocks drop exponentially. Unreal.
The trend of miners:gold ratio has been in place since 1995. Lower highs and lower lows over that entire period.
Things are coming to head though this year. Something will have to give. I hope the miners can finally break the downtrend vs gold, but conventional TA would say that the consolidation in the ratio over the last 10 years is setting up a continuation, i.e., not bullish for miners vs gold.
Also, FWIW, the HUI:gold ratio’s 200 week MA is on track to positively cross the declining 600 WMA in late 2024.
Right now the 200 WMA is flat to slightly down and the 600 WMA is declining sharply. Of course if the HUI completely fell out of bed relative to gold it’s possible that cross could much later.
Last comment: the yen ($xjy) looks like it wants to fill the November gap, which will be near a multiyear low. Its decline has really provided USD a boost the last few weeks.
Thanks for your input Nautilus
Fully, when the GDX breaks over 40 you’ll be back chasing them….:)
If you are an investor then might want to listen to the man
https://www.youtube.com/watch?v=PNtACoYpprM
I will say this for investors.. Where else can you find a company producing 500K Aueq Oz present day producer for less than $1b market cap. Here is your bargain