The Great Miner Collapse this time.......
just a curious thing to notice.... when you look back at where miners were in 2007-2008, before the great stock market crash of september 2008.... take any miner as an example.... EGO, for example.... in 2007 era, at that current peak for EGO, price was around 9 dollars, in mid september 2008. It has made a good rally run from 2005,when it was around 2 dollars....already in those 3 years it gained about a 4 bagger...a good investment in a developing miner doing well...... Then the 2008 Crash collapsed the price down from 9 dollars (more like from 7.50 area, the previous month, it was declining, but lets stick to the point) it fell in the 2008 Crash from the 7 dollar zone to 2.38 before it reached Bottom there.
a collapse back to the 2005 zone, around 2 dollars....and then the rally began.
That rally took EGO all the way up to 20 Dollars in 2010 and popped to 22 dollars in 2011....now heres the interesting observation to consider....Back in 2008, when the market crashed....EGO fell from the 7 dollar area to the 2 dollar area.
THIS TIME....the Slow Crash thats been happening since 2011.....has taken EGO down from 22 dollars to the Target Bottom Ongoing...so far hitting 5 dollars and change now....forget about 6 dollars.... that was like a blink of the eye.... this collapse is not falling from 7 dollars to 2 dollars its falling from 22 dollars to 2 dollars, in order to hit the 2008 Crash Bottom.....now thats a great achievement. Much greater than from 7 dollars to 2 dollars. from lets be generous with the math, and call the 2008 top at 9 dollars....to the Crash bottom at 2.38...back of napkin math looks like a collapse of around 75 %.... to get to 2.38
This time from 22 dollars to 2.20 is 90 %
so thats all I have to say. (No, this doesnt sound like the right perspective, it cant be about percentages,has to be about money)
maybe look at it this way. IF someone owned 1000 shares in 2011 , valued at 22 dollars.... they would own 22 thousand dollars of EGO....and IF the share price falls to 2 dollars.....they will have lost about 20 thousand dollars of value.
Back in 2008, when price was at 9 dollars....those 1000 shares would be valued at 9 thousand cash, and the collapse would have lost 7 thousand dollars.
So the difference this time is that in 2008, folks might have watched themselves lose 7 thousand dollars of value....and this time they will be watching their portfolio profits disappear (and assorted losses accumulate) to the tune of 20 thousand dollars of value if they were just buy and holders. riding the collapse all the way down.
Other miners like ANV....that soared into the 40 dollar bubble....wow....what a collapse.
I wish I could say that I have made some kind of point....but even this math exercise is pointless.
Experts were saying in 2009/2010 to buy Miners. Experts were saying in 2011 to Hold onto miners. Some were saying to get out of miners...In 2012 more were saying to get out of miners. In 2013 it was Too Late to get out. Now its too late to sell. The losses are too great if you sell at these catastrophic bottoms.
The time to be an all seeing wizard ,or have a brother in law who works at the fed, was at the peak in 2011, to sell them all and take great profits. or even in late 2012 was still ok to save yourself.
Its too late to get out now.
Its too late to change the plan of buy and hold.
Technical analysis was possible these days to try and find a bottom zone to buy, as spot gold hit 1180 a month ago and miners began to bounce....but that movement was proven to be a Fake Out. and now its too late , to do anything but wait for the next rally , and see what prices look like , for all the positions we just bought this past month, like stupid sheeple buying miners. Maybe we can get our money back and break even on these recent buys.
I'm just thinking out loud to myself. and that is what I plan to do.
It will be a nice xmas gift from the Cartel to give us that small rally so we can get our money back in recent purchases.
This past month of price action and wave patterns,looked like a technical set up for an October rally. It was a gamed operation fake out, a deception played very well, a scam and a game, and I for one, as an expert technical analyst, fell for the set up. All the data points , all the wave patterns, all the bells and whistles were in place for the rally set up, even the rally got started, to sucker in the sheeple....and then they Hammered it Down, and sent it collapsing ....
a vicious blow to steal our money.
I'll get my money back, when the next rally blips up again.
It just takes more patience in the coming month.
Miners are not good investments , even at these low prices.....the 2008 Crash Bottom is still far down for many miners. This game of destruction is still ongoing and the trickery is very vicious. and very deceptive. They fooled me this time. and I was watching everything like a hawk. This game cant be beaten, even the best TA cant see the sucker punch , when they set it up and play it out like they just did.
I bought some miners last month,last few weeks...as a technical trade, to make a little cash in the small rally I expected.
That rally was nothing but a set up /whipsaw fake out, for this slam down operation.
The next rally could be the same set up...the game is ongoing.
ongoing since 2011.
I played with Fire and got burned a little bit.
Now I need November to give me my money back.
