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Theoretically, since the juniors are typically considered less financially solvent than their senior counterparts, it might be reasonable to assume the junior mining stocks would experience earlier investor capitulation, as you suggested.
Hey Dude, long time, wow, one familiar face in a sea of newcomers. It's been weeks since I've checked gold prices, one thing we know for sure, there is support at 1144 and resistance at 1400. The 3 month shows you got a bounce at 1188, last year we came off the lows in December, what a great bounce for gold and friends, the miners were in the low 20's and went all the way to near 60, hitting that, I believe in January or February. Christmas bounce, again? Darn that 3 month gold chart looks nasty. Never a dull moment trading the shiny stuff, that's for sure. GL to all.
Stocknawe
I thought it was because I was back in college. :)
Hey Kap, sounds like you're not interested in JUGS anymore?
This board has been abandoned, shut it down!!!!
Finding a way to play gold is like finding the best way to get to Montana from Texas, later finding out you can't get to Montana from Texas!!!!
Yeah man, she's a cool cat, I dig what you're saying bro, don't necessarily agree with it, but but I dig it! ;)
Hey Kap, seems gold is trading inverse to the equity markets right now. It took somewhat of a beating overnight and this morning, probably will go lower, possible inflection point would be 1244. I'd go short the juniors, if gold demand is decreasing y/y as Soltaney commented, the juniors will be hit the hardest, I'd short now and ring the register when gold hits 1244.
This site turned into a ghost town! ;)
Hey SS, it looks to be heading lower to me.
Hey SS the problem with projecting too far out would be the methodologies of these new traders have changed as well as the instruments at their disposal. It's a whole new game now, what happened in the past is history!
Kap, patience man too soon for JUGS!
Alrighty Kap, I was surprised by the overnight tankola, seems like the junior miners are holding up fairly well considering.
Or not! Catastrophic event indeed, good job to the traders who called this whack job!
Or not! Catastrophic event indeed, good job to the traders who called this whack job!
Hey Kap, on Friday I would have cashed in my gold long position, if I had one, today I'd short short the silly stuff or those wacky miners who dig it out of the ground. Gold is starting to trade like nat gas, where the moves can be shockingly fast and make little sense to mere mortals whose coinage, if in the game, can easily be turned to fodder without warning! Crazy!
Hey NY, that was one heck of a ride off $1244, are you planning to ring the register anytime soon?
I agree Mannken, play the trend, it's unlikely there we be a catastrophic reason to sell gold in the near term, gold looks to want $1400, the miners will most likely break this year's high and possibly soon. There seems more reasons to buy gold rather than sell at this juncture IMO.
SA
Not as fun as playing, but a heck of a lot safer. Happy 4th!!
Hey SS, that's not good news about this being your last post. Did you try switching browsers? As for where do we go from here, darn it if I don't think up, it seems like this stuff takes a beating and keeps on creeping back. I haven't been paying attention to the geopolitical stuff, but I'm beginning to think gold is fair valued between $1300-$1500, any dip in the middle $1200's is probably a buying opportunity. Take care and keep your posts coming if possible!
Hey NY, you must be one happy camper buying the shiny stuff at 1240's, you should give lessons. I was awarded my bachelors in business admin/minor in Econ and waiting to be accepted in an MBA program. I'm not sure if I'll have time to trade this stuff or not, come third week in August I'll probably be working the books pretty darn hard, but rest assured I'll be watching this nuggie board and those crazy miners not to mention that wacko gold as often as possible! My email address is stocknawe@yahoo.com. Please keep me updated!! ;)
I think it's a little premature to claim that POG is making "higher lows" as the article suggests. POG must first break and hold above $1400, then we can start talking about the senior miners engulfing the juniors on a hayride to moneyville. ;)
If gold and company can't make higher highs, then it's back below 1300 for the shiny stuff and the miners will be right with it.
According to some talking heads, miners outperform gold from the lows, I haven't crunched the numbers on that claim.
The bottom line in my opinion isn't about earnings it's about POG and sentiment thereof, and both can turn on a dime, which is the risk on both sides of the trade.
Morning Lifter,
Gold is down, the equity markets are down and the miners are up. Hmmm, just another wacky day in the gold sector. ;)
$10 reversal from the overnight lows based upon today's Econ numbers, which appear to indicate a lower than expected GDP and durable goods, but stronger service section and corporate profits. Most likely May's numbers for durable goods and GDP are resultant from the so called "winter hangover". Seems to me to be a wash, perhaps the geopolitical factor at play, gold does not appear to be at lofty levels just yet according to the technicals or fundamentals in my opinion.
Hey Stockoboots, I really don't think deflation is in the cards, rather the opposite, prices are beginning to heat up , last week's CPI numbers were hotter than forecasted. I haven't been listening to the news lately, but I think the Middle East will continue to give the west headaches and I fear the west will have to put boots on the ground and intervene, at that point I'd sell gold. Yes, we hear talk about gold not fairing well in times of rising interest rates, but who knows we might have over-torqued QE, add a weak dollar to the equation, and bingo, gold goes up, again. It's a crazy time in all the markets right now and that's the only certainty. ;)
Hey Kap, I've been on the sidelines since end of Aprill with college work and 4 years worth of other stuff that has been back burnered, the good news is that I got my ECON minor completed and have officially graduated! Now off to MBA school this fall. The bad news is that I've missed out on a lot of excitement with the shiny stuff. I really can't see what's going to slow the this gold train down, naturally, the miners are benefitting, probably your revered juniors (JUGS) as well. Darn what a sweet ride from 1240, nearly a hundred points, I hope our pal NY is still riding this mother up. I thought we were due for a pop, but was surprised at how far, how fast we got there. The equities are smoking hot as well, exciting times for sure, sounds like you've been looking for a pullback to hop on, it's coming, the question is when. Happy trading bro!
60 is definitely pushing it, it hit 50 earlier in the year when the shiny stuff was trying to break 1400.
Hey man, gold gone wild!!!!
Hey Stockoboots, nope I'll leave the juniors to Kapla and the rest you daredevils.
Thanks man, the good news is that only one exam left for graduation and normality. It's been a great move off the 1240's back like a magnet to the 70's, but why stop now when things are just getting interesting? Thanks to the "Bush War of False Reasons", Iraq appears to be a tinderbox ready to ignite into flames that only can be extinguished by the superpower that started them. Whereby the never ending story of the Ukrainian land grab makes good press, in reality it's present and future outcome is of little consequence. However, don't mess with the world's oil supply, that's where our rich uncle draws the line in the sand of death. Our boots are coming back to Iraq, sooner rather than later, gold just doesn't know it yet, and when it finds out....well, you know. ;)
Well Auric, it's Déjà vu to you too, Kaching goes your register it 's January all over again! Taking number 2 out of the three tests today, wish I was having fun like you!
Or a wise man would pass on either one of the evil twins from hell. ;)
Hey Lifter, I think if people want to play gold, trade the futures or GLD, not to say there aren't opportunities for NUGT/DUST, but there are way too many factors in the mining equation and then if you're wrong, it's triple abuse. ;)
You don't drink beer anyway, Dom Perignon champagne or nothing. Have a great weekend bro! :)
Happy Friday,
Be there or be square NY, roll the dice long @ 8:29 ahead of the jobs report, put a protective stop two points below entry and cash out on the pop. Don't hang around, take your money and run. Kaaching!!! Just a wild and crazy idea for some weekend beer money. I had to put my work projects on hold for a bit, been finishing up an incomplete for my econ minor, graduation is the14th, one test down, two to go.
Jerome Powell Speaks
4:50 AM ET
Employment Situation
8:30 AM ET
Consumer Credit
3:00 PM ET
Hmmm, sorry to butt in, but the so-called "Great Recession", officially commenced 2 weeks after Secretary of the Treasury Hank Poulsen announced that the economy was on track and all was good. ;)
NY, you've got some Econ data out this morning, Wednesday, if you're still long put a stop at 49 and one at 43, if either one gets triggered you'll make some cashola, then head for the sidelines and apply the vulture method.