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Yeah, but if you sell them back, they'll give you something close to the paper price.
Don't trust apmex, either. They ripped me off once by selling me a batch of mercury dimes that were too worn and worth well below the bullion price. False advertising. All coin dealers do this though--their stuff is presented as wonderful riches to be sold at the highest prices, but when you try to sell stuff back to them it suddenly becomes dog crap.
Market halted for a few minutes. It will probably collapse more when it reopens.
Fire sale--everything must go! Including gold and the miners.
Yep. 15 minutes...maybe they'll end up doing what the Philippines did and shut the market down altogether. Wouldn't that be holy hell...
That's what I did when I was a day trader--I would almost always give back any gains. Some people can day trade--I'm not one of them. I swing trade mostly these days. Try to buy red and sell green.
I'm guessing gold still has downside. It's not a safe haven. Not yet.
It sure doesn't act the way it should--not always commensurate with the math. Especially when it plunged to $3.50 the other day.
But it's not a scam. Not officially, anyway.
Glad I got out. NOT riding this junk back down under $5.
King Dollar is kicking gold's butt right now. Silver's shiny butt too...
Sometimes it takes this time for for these 3x ones to turn around after a down day.
Today the fire sale continues. Everything must go! King Dollar RULES!
I'm making a bit, but it's a hot potato regardless.
Got all out this morning. Not watching this plunge below $5 again. Gold and silver are getting thrown away just like oil. Everything must go. The dollar gets stronger the more they print. Deflationary depression!
It's poppin' now.
The dollar keeps gettin stronger no matter how many trillions they print. Deflationary depression on the horizon. Everything including gold gets tossed out. Gold will bounce back eventually, but right now it's being treated like a commodity such as oil, which is also getting belted.
Trump is going into helicopter mode now--doing what Yang proposed. How is this not good for gold? Well, it will be and gold could see some ballistic moves to the upside soon.
It's never a bad idea to take profits, but I'm still holding. I'm doing good, but after that suffering through absurd lows, I deserve more of a payout...lol
Haven't seen NUGT pop like that in a long time.
Keep on a poppin' !
Yes, JNUG is very volatile with huge swings. It's why some won't take tight stops--if you do that you will get stopped out every time and miss the big upswings. This is a good stock for flippers or swing traders if you can get in low. Trouble is, sometimes it keeps going lower.
But not today!
Agreed--with gold at this price they're still making money and dropping fuel costs makes the operations even more profitable. Miners are way oversold.
Gold is money--that's what it has always been. It's not a commodity.
Silver is a commodity and money, too...but gold remains paramount even though the silver-to-gold ratio is completely nuts.
Big Gubmint is here to help and they will bail out everything. The banks. The airline industry. Domestic oil companies. On and on--all at the expense of the taxpayer, of course. Taxpayers won't get bailed out--oh noooo. They'll pick up the tab in terms of inflation while also receiving ZERO percent interest on their savings. So....what is a good store of value?
GOLD!
Already over $8--good call.
KA-ching!
Nice to see some GREEN for a change. GOLD has been going straight down for over a week. Time for a bounce!
Back over $10. That's a double from the early morning low. Gold has been way, WAY oversold...for over a week now. Time for a bounce!
Just watched that interview--he says juniors have been suppressed for so long that when gold goes up (in addition to very low fuel prices) they could see a tremendous run--and the majors may start buying them out, too.
Could happen--it's hard to say since rationality has vacated the precious metals sector. Miners are STILL making profit by producing gold even after the marked decline in prices the over the last week. Fuel costs have plummeted. DEMAND is on the increase. Gold is still seen as a safe haven in a time of crisis and fear. And boy, the fear flames continue to be fanned.
Sill holding.
That's nuts--the premiums, that is. We may be seeing a disconnect between paper and physical. There's record demand for bullion and yet the price....goes....down. Capitalism in action, ha ha.
Averaged down and now I'm breaking even here. Congrats to other posters how have made millions by buying on the LOL-low.
I'm still holding. Screw it.
Ready--but is the rigged system willing?
Just a tweet I got. I haven't yet verified it.
DEUTSCHEBANK APPEARS TO HAVE DEREGISTERED AS A COMPANY IN GERMANY
— 🇺🇸D⭐️E⭐️A⭐️N🇺🇸† (Text Trump to 88022) (@deanomight1) March 15, 2020
THIS IS BACKBONE FOR THE FOR THE EUROPEAN CENTRAL BANK
THE EUROPEAN EXPERIMENT APPEARS TO BE DOOMED
HERE ARE THE DE-REGISTRATIONS
POP YOUR CORN ! THE STORM IS HERE@deanomight1 @V_4_Vendatta
W W G 1 W G A
🍿🍿🍿 pic.twitter.com/vuMaGLue4Z
I got some NUGT last week too--losing there too, but I don't have nearly as much as I do on JNUG.
Just read a rumor that DeutscheBank is deregistering--NOT good!
The dollar is dropping right now.
How could it not when it's being created out of thin air to prop up the banks and the markets?
Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program
https://www.citizenfreepress.com/breaking/breaking-federal-reserve-cuts-rates-to-zero/
The Fed just dropped rates to zero.
How can this not be good for gold? Well, it might be--we live in a topsy turvy world.
TVIX and UVXY were broken for a while too, though...and both have seen a tremendous lot of reverse splits. JNUG can recover but the damage and decay, it will take time.
You did great--I can't believe this was near .25 briefly last week. I didn't pull the trigger because I was afraid of a bankruptcy announcement.
It could just be a big dead cat bounce, though...so I advise caution.
I wish I had more details, but I don't--just repeating a rumor told by a trader. He said some fund in Italy was forced to dump it all and that it should bounce back nicely tomorrow. I'm reluctant to spread such a rumor because I can't verify it.
As you know, this follows junior miners and NOT gold--although gold leads the way and the futures show it rebounding nicely so far...even though the rest of the market is already down 1,000, which hurts the miners. That said, the miners ARE profitable with gold at this price AND fuel costs have plummeted so I'm thinking it's way over blown. Doesn't mean the manipulators won't drive it down again--what happened on Friday seemed almost criminal to me.
I averaged down at $9 and again at $6 so I'm hurtin' like so many others but it's not like I tossed the kitchen sink at it, so I'll live. I do take stops and got raked over the coals by someone who used to post here regularly (he never lost), but at these extreme low levels it seems the best strategy is to average down and hope for the best. So far all we've seen is the worst.
Thanks for the laugh--anyone who bought this under $4 is already doing well.
But it NEVER should have gone that low!
None of the junior miners were crushed commensurately. It's crazy--an outrage, really. JNUG should never have plunged down the way it did based on the price of gold and the miners it supposedly represents. If this doesn't bounce--and soon--an investigation and lawsuit might be in order.
What I'm hearing is some major fund in Europe was forced to dump a massive amount of shares at any price on Friday and it should recover from here. JNUG was certainly not following any kind of rational formula...it was blind, irrational panic selling. Computer algos may have triggered repeated sell waves as well.
The volume was incredible as well...a huge turnover.
https://www.barchart.com/etfs-funds/quotes/JNUG/profile
Bouncing AH, but dayum....
Reminds me of "The Treasure of Sierra Madre." The old man laughs when all of his gold dust was blown away.
That's all we can do now--laugh.
It means gold has officially been declared worthless...lol
Will it hit $0 before the close? LOL
RIP, JNUG. You're done. Toast. Stake in the heart. I hope this scam never recovers.
Brutal smack down of silver.
Down for the count right now.
Let's hope AG can get back up.