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$GOLD and $SILVER I believe are about to pull back. We have had an overall uptrend for over a month. I don't think there is enough fear out there to keep this going for much longer. This is also based on my own opinion of the chart analysis.
You can see a couple of hard selloff days in August. I think more are coming until we change trend downward.
Next week could be big for gold's direction. If the Fed decides to raise interest rates, gold may react quickly, like in the last rate hike. This week, when gold sold off after hitting around 1295, it didn't look good.
I used to be a gold bull, but that hasn't served me well in recent years. Now, all I care about is price action and technical indicators. I no longer care about taking any ideological side. I just want to trade and make money.
Lately, I have been warming to Harry Dent's thesis of deflation and it's effect of lowering gold price. Recently, I read an article that 70% of millenials don't have even $1000 in savings. People need money to buy gold and silver. Inflation or deflation, I'm open to anything right now. I just want to catch a piece of the moves.
Yes, 1279, sorry about that. Tired this morning.
It was the low from two days ago. Just my opinion on how the technicals look. I'm not going to call myself an expert.
If it held above 1979, it could have consolidated for the next move up, maybe formed another pennant. Now, the stochastics are pointing down.
$Gold in a violent pullback right now. Well below the low of two days ago. I think the market has spoken, bear market this summer. We needed to hold above 1979.
JDST was too early a buy, IMO. Strong JNUG candle today, and I'm expecting some follow through over the next 3-7 trading days.
I bought some of my favorite gold miners and I will be watching gold like a hawk today. This could be huge.
$GOLD looking interesting here. We either form another top between here and 1290, and we go down, or we hold above 1290 and we breakout. The next few trading days could be very important for gold's direction going into the summer.
I never liked cryptocurrencies. They just aren't real. They are good for avoiding taxes and laws while transacting, but I have a feeling that lawmakers will eventually catch up to them. Besides, they appear to be in a massive bubble right now based on the percentage moves they have been making. The market cap of the top 3 cryptos are over 71 billion. That's crazy high to me.
We are off to a strong start on this bounce. I'm expecting USLV to hit $13.50 at least in the coming weeks. This bounce looks too strong to suddenly collapse.
$Silver is flying lately. I guess that new computer worm ransomware is having quite the fear impact. May see $17.50 this month.
The technical indicators I'm seeing show a high likelihood for a bounce. It might be a weak bounce, and I can't say $13 or any number, but I see a trade here.
$NUGT nice hammer today, candlestick. Tomorrow might be the time to get into that or your favorite miner for a small bounce. I still see more downside than up.
JNUG was too early of a buy IMO. Down market might be just getting started. No confirmation of a turnaround yet.
$GOLD and $SILVER are trading crazy today. Silver got taken down to 18.12 and recovered. Gold still marching upward. It's so hard to call. I'm waiting on an up or down move that confirms a short term direction.
If gold blasts off tomorrow, then we are in a mega run, confirmed. I'll be watching with baited breath. Blue skies or pullback.
$GOLD maybe the gold bulls are right. I'm going to give up on the gold predictions for now. It's too hard to call. Maybe I will play some of the charts here and there.
Poke me when silver breaks $18.50 and holds above it for 24 hours, and I will believe in the gold bull market. Silver could drag gold down here. There are still huge commercial shorts on silver.
$SILVER price looks like it's flattening out. It could be a leading indicator for the next drop in gold. A few missiles launched at Syria are not going to hold up the price when the macro indicators point to lower gold and silver.
Gold has re-entered the Fibonacci retrace zone, so I would not expect much more upside. Gold Eagle coin sales are weak this year. Deflation is also chipping away at everything again. One example is that auto dealers are getting desperate. I'm seeing commercials for cash back on car loans. When was the last time we saw cash back on consumer loans? Right before the housing bust of 2008.
Sorry, guys. This isn't 2010 for the gold market all over again. Back then, retail gold bullion was selling out all over the place. There were months you couldn't get it. There's too much deflation now.
$GOLD it seems Trump launching those missiles at Syria gave gold some extra momentum. I don't expect it to last long.
Glad I exited my position inverse to gold. If this holds above 1262 by market open tomorrow, then it's game on. This could still be a fake out. Beware.
I got out of JDST with a miniscule profit today. Glad I did. Gold might have some more legs.
$BAA I used to think that it was a good opportunity for growth a few years ago, but it never really lived up to its potential.
The gold streaming deals are oppressive and make it very hard for the company to pull positive earnings, along with the debt of course. They are going to need $1500 gold to make money.
$GOLD banging on that resistance point again. If it blows past 1262, I will eat my words. I just don't see a surge in demand in the news lately. Gold and silver bullion sales down. China and India demand weak.
$Gold and $Silver. The next few days are going to be critical. Either gold and silver break above their highs from February, or we are headed down hard.
This week, every day that it doesn't happen makes it less likely. Sideways movement is just going to make the technicals look overbought and weakening.
My opinion is that we are headed down. Just looking at the moves in 2017 versus 2016, you can see major differences. I'm not seeing those explosive upside swings I saw in 2016. Since 2017 started, whenever gold and silver trended up, it was slow and gradual. When a downtrend formed, it was fast and violent. Just look at the candle sticks on the charts.
$GOLD and $SILVER the bounce may be over by Friday. I'm not seeing any strength here. Prices seem stuck where they are as I type this.
$GOLD and $SILVER update. We had a Fed rate hike yesterday, and we saw a reaction to the upside. I'm expecting a leg up from here. Now might be a good time to buy your favorite mining play on this small pullback today. It looks like a good swing trade.
Not saying I'm bullish on the year, but the technicals favor the bulls right now. We need to hold above the highs of the last leg up for gold and silver to call a new uptrend. That means silver over $18.50 and gold over $1260. I'm expecting us to at least get part way there, and I'm betting on a swing trade.
IMO the only good plays on miners right now are inverse ETFs, like JDST, or shorting.
$GOLD $SILVER new analysis. I thought this was going to be an even better year than last for gold and silver, but I was totally wrong. These metals are entrenched in a deeply down channel. The confirmation was the inability for silver to break $18.50 at the end of February.
If you draw trend lines from the 2016 highs to today, you will see that we are in a death spiral in precious metals. They are going to get eviscerated this year. My price targets are gold $1080 and silver $14.20.
This is all based on technical analysis. I thought the fundamentals were strong, but too many world economies are improving, and that overturns the positives for precious metals. Despite efforts to weaken the USD, it's strengthening anyway. You have to trade on reality, not what you want.
$GOLD Just wanted to apologize because I was wrong. After further analysis, it looks like we are headed into a new downtrend. Yesterday seems to have proven it, and it followed through today. I'm a little late on this, but it looks like I will be selling gold related positions and possibly looking for an entry into $DUST.
In the long term, I am still bullish, but not for the next 2-4 months.
I'm hearing that silver and gold were manipulated through new paper contracts flooding the market. There are limits to this activity, and it's going to be a long and interesting year, so I haven't sold a single position in miners.
Gold looks like a healthy pullback and firming up again. Gold miner investors oversold their positions.
$GOLD reminds of the action last week. Just when you think it's about to take a dive, it firms up and holds strong. I'm still expecting a strong move up sometime this year.
$GOLD so impressed by how hard it is to hold down. It went green on the day as I type this. I believe that this year will be better for gold than last year.
Natural gas ETFs looking good for a swing trade here, if anyone plays them.
$GOLD BREAKOUT!
Yipee kiyee! Gold going crazy this morning. Good morning, all.
Maybe I'm crazy, but I'm a little more optimistic now.
Banro is producing a lot of gold for a stock with such a low market cap. Because of that, it is more sensitive to gold price than almost any other miner. If you think gold is going way up in the next year or so, BAA is a good place to bet.
I'm hearing some strange things in the gold market. Large, multi million dollar orders for physical gold are having to pay huge premiums. I have heard 100% over spot, in one case. The manipulation scheme against precious metals is starting to buckle under the stress. The COMEX almost ran out of physical gold last summer. The dam is going to break soon. BAA, like most gold miners, are going to make a lot of people rich.
I'm still hopeful that BAA will achieve at least break even earnings in 2017 if gold price cooperates. What do you guys think? Pie in the sky goal, or within reach?
If gold goes into a super bull run within 2 years, over $1 share price is possible. Anything can happen.
I think the next super bull run is coming, and gold price is going to top way above $2000 per ounce.
The refinance news is mixed. Bankruptcy risk is way down, but so is shareholder equity.