excellent points...
and didn't it pop into resistance and completely slam down on Friday as anticipated. ...what a game.
I was watching to see if the magnet target got hit,in PVG, I only have a few miners to watch, and this one was kind of automatic,watching to see if PVG would touch the 50ma at 9.10...but the sellers didn't wait for that hit, they reversed it just shy of 9.00... such a little trick...but I decided not to sell there,I'm being stubborn for the higher target. Its all such a game.
This miner,Pretium,I think is a very good investment. I suspect if the world doesn't blow up,then PVG will be a good winner. I don't feel I need to own 25 miners like I used to .Looking back,in 2011,I was bbuying left and right, I had a stable of 25 miners, I was subscribed to 3 miner newsletters, it was too much,now I realize, and when the PTB collapsed the sector they all went crashing down in unison,computer program driven to the bottom.... and youre exactly right, all of a sudden at a certain moment,around January 19-20, the miner sector took off like a scalded cat,and made this giant rally until August. and now theyre all coming down again. in this contrived manipulation game.
I do agree that the only reason why TA charting still seems to work is because the computer trading programs are likely programmed with these same mathematics.
But which direction will the miners and metals go next. IF they bounce soon, how high will they go before they get slammed down again? short term trades like you say might be all we can do. The big picture,of global economic collapse will happen sooner or later, and the powers might crash the miners to the bottom zone again. which means buying any here at the 'halfway' point might be dangerous in the longer time frame (8 months from now)
Right now, this overhead resistance,a shoulder zone, got hit already on Friday... This rally we got in 2016, that has been pulling back since September, all controlled and manipulated by the wall street powers,which is really the FED and government stock market at this point,(merged) it has nothing to do with any reality ,of fair value, or developments in the individual miner, or new buyers coming in, its all controlled by the computer programs at JPM and GSachs, and the FED trading accounts, etc...its the bubble they keep propped up in the S+P, and it looks like they arw really juicing up the $INDU these days, more than the others, and they pressed down harder on the Nasdaq,didnt they....but all is well as their Plunge protected computer system keeps rolling along and bouncing back up.
Until the right moment comes when they will flip the CRASH switch,and it will send shock waves throughout the whole world this time.
Do we really want to be buying more stocks here? I wonder.
But do we also want to be holding CASH, if that usdollar cash money becomes rendered 50% less when the great reset happens over some weekend,and the new USTreasury dollar note comes into existence? and all of a sudden, all our "money market cash" in the portfolio, becomes frozen, hypothecated by the govt. held until the "crisis passes" and then returns into our portfolio account ,now called something like "USTreasury note cash" and we realize the value has been cut in half. Theres your cash confiscation. On June 1,of 2016, Schwab introduced these rule changes in my account, notified me by mail, and the fine print describes exactly this kind of "in case of market emergency" and force majeur kind of thing. right there in the details.
What portion that is currently being called "money market cash" .... that's what will become confiscated when the crash comes. so is it risky now to be in a lot of "money market cash"
you need to be well informed about this issue, Chuck. do you know what your brokers fine print says about these changes that went into effect this summer.
