Investors....come in please!
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Originally Posted By: JHZR2
Originally Posted By: rw19
JHZR2 you have helped me on a few questions so I will break this question down for you.
Firstly mining is a very cyclical cycle. Secondly when miners cant support production they shut down the mine. When they shut down the mine prices go up. Also when prices are too low the junior companies STOP looking for new reserves when they stop looking for new reserves prices go up because we take out millions of tons of commodities out of the ground everyday. THEY NEED TO BE REPLACED.
Secondly this is true for all commodities in general all the easy stuff has been taken out we are going deeper and deeper now to retrieve them. So prices will remain high regardless and to top this all off there are almost 3 billion people aka china and india that have started to become wealthy they will want to increase there living standards. Fun fact china is now the largest auto buyer in the world.
Now that AUY is a bit lower, perhaps it's time to buy???
I wouldn't touch it now! All miners have crashed through support moving averages etc. I was suspecting/hoping any pullbacks after the big rally over the last month would find support at the 50 day/100 day at a minimum. Nope; blasted right through and never got to the Sep 18 2013 high which has a huge amount of supply as that was the Fed non taper announcement day.
I got out of NUGT by the skin of my teeth with a small profit on this last move.
Originally Posted By: rw19
JHZR2 you have helped me on a few questions so I will break this question down for you.
Firstly mining is a very cyclical cycle. Secondly when miners cant support production they shut down the mine. When they shut down the mine prices go up. Also when prices are too low the junior companies STOP looking for new reserves when they stop looking for new reserves prices go up because we take out millions of tons of commodities out of the ground everyday. THEY NEED TO BE REPLACED.
Secondly this is true for all commodities in general all the easy stuff has been taken out we are going deeper and deeper now to retrieve them. So prices will remain high regardless and to top this all off there are almost 3 billion people aka china and india that have started to become wealthy they will want to increase there living standards. Fun fact china is now the largest auto buyer in the world.
Now that AUY is a bit lower, perhaps it's time to buy???
I wouldn't touch it now! All miners have crashed through support moving averages etc. I was suspecting/hoping any pullbacks after the big rally over the last month would find support at the 50 day/100 day at a minimum. Nope; blasted right through and never got to the Sep 18 2013 high which has a huge amount of supply as that was the Fed non taper announcement day.
I got out of NUGT by the skin of my teeth with a small profit on this last move.
Originally Posted By: Turk
BIS anyone??
Well, as i explained in my post on Friday, I sold mine.
BIS anyone??
Well, as i explained in my post on Friday, I sold mine.
Originally Posted By: Drew99GT
I wouldn't touch it now! All miners have crashed through support moving averages etc. I was suspecting/hoping any pullbacks after the big rally over the last month would find support at the 50 day/100 day at a minimum. Nope; blasted right through and never got to the Sep 18 2013 high which has a huge amount of supply as that was the Fed non taper announcement day.
My take is more constructive, there is a chance we'll bounce back. This reminds me July 2012 short sell off before a huge melt up. The sentiments were too bullish short term and it had to be neutralized first, before moving later. I'm adding positions at these levels.
I wouldn't touch it now! All miners have crashed through support moving averages etc. I was suspecting/hoping any pullbacks after the big rally over the last month would find support at the 50 day/100 day at a minimum. Nope; blasted right through and never got to the Sep 18 2013 high which has a huge amount of supply as that was the Fed non taper announcement day.
My take is more constructive, there is a chance we'll bounce back. This reminds me July 2012 short sell off before a huge melt up. The sentiments were too bullish short term and it had to be neutralized first, before moving later. I'm adding positions at these levels.
Originally Posted By: Drew99GT
Originally Posted By: Turk
Look at the almost straight line down in all 3 big indexes today.....
Weekly momentum sell signal triggered and now the divergence in 30 year treasuries and the Vix is finally here; Vix never made a lower low and now 30 year treasuries relative to the S&P500 made a higher high along with the S&P500 it self. Last 2 times that happened were 2011 and 2007. That has been my signal for a longer term top.
Sell Signal is now stronger than last week. Long term bonds are in rally mode as the yield curve is flattening in anticipation of the first potential rates hikes and a full unwind of quantitative easing.
I took a small short position in SPY via a bear call spread and am still out of my long SPY since 2 weeks ago. This is the first time in a year I've tried shorting the SP500. Should target the 1800 to 1820 level in the next week, and if that gives way, 1680 really is the bottom of the long term channel the market has been in for 5 years if we get a full on 10+% correction which would be quite normal. The SP500 hasn't even test the 50 week moving average for a year; it's long overdo.
Originally Posted By: Turk
Look at the almost straight line down in all 3 big indexes today.....
Weekly momentum sell signal triggered and now the divergence in 30 year treasuries and the Vix is finally here; Vix never made a lower low and now 30 year treasuries relative to the S&P500 made a higher high along with the S&P500 it self. Last 2 times that happened were 2011 and 2007. That has been my signal for a longer term top.
Sell Signal is now stronger than last week. Long term bonds are in rally mode as the yield curve is flattening in anticipation of the first potential rates hikes and a full unwind of quantitative easing.
I took a small short position in SPY via a bear call spread and am still out of my long SPY since 2 weeks ago. This is the first time in a year I've tried shorting the SP500. Should target the 1800 to 1820 level in the next week, and if that gives way, 1680 really is the bottom of the long term channel the market has been in for 5 years if we get a full on 10+% correction which would be quite normal. The SP500 hasn't even test the 50 week moving average for a year; it's long overdo.
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JHZR2
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Originally Posted By: friendly_jacek
Originally Posted By: Drew99GT
I wouldn't touch it now! All miners have crashed through support moving averages etc. I was suspecting/hoping any pullbacks after the big rally over the last month would find support at the 50 day/100 day at a minimum. Nope; blasted right through and never got to the Sep 18 2013 high which has a huge amount of supply as that was the Fed non taper announcement day.
My take is more constructive, there is a chance we'll bounce back. This reminds me July 2012 short sell off before a huge melt up. The sentiments were too bullish short term and it had to be neutralized first, before moving later. I'm adding positions at these levels.
I just look at it that for every exit or don't touch point, there will be an entry point at some time in the future. Maybe not now, that's ok. I haven't had much time to pay attention recently.
Originally Posted By: Drew99GT
I wouldn't touch it now! All miners have crashed through support moving averages etc. I was suspecting/hoping any pullbacks after the big rally over the last month would find support at the 50 day/100 day at a minimum. Nope; blasted right through and never got to the Sep 18 2013 high which has a huge amount of supply as that was the Fed non taper announcement day.
My take is more constructive, there is a chance we'll bounce back. This reminds me July 2012 short sell off before a huge melt up. The sentiments were too bullish short term and it had to be neutralized first, before moving later. I'm adding positions at these levels.
I just look at it that for every exit or don't touch point, there will be an entry point at some time in the future. Maybe not now, that's ok. I haven't had much time to pay attention recently.
Yup, TLT is going. IHS with a minimum target of 115. This potentially should be good for REITs and other rate sensitives which is why I'm not selling my ARR.
What's the story on O? Good buy or Good Bye?
CHL was a good call, backed up the wagon earlier this week.
LINE gave a bunch of my gains back, but I'm so fat with that one, not so bothered.
SDRL up big time off the low.
You guys tell me when I should jump on gold miners. GDX for example.
CHL was a good call, backed up the wagon earlier this week.
LINE gave a bunch of my gains back, but I'm so fat with that one, not so bothered.
SDRL up big time off the low.
You guys tell me when I should jump on gold miners. GDX for example.
O goes Ex-Dividend today. It has also had a nice run-up & pullback to it's mid-range. If the "markets" tank, people will be heading towards income, but who knows if they'll go to O.
LINE (I got LNCO) who knows. I bumped up to ~800 shares in my regular account; still building for when I'll tap it for a paycheck later.
LINE (I got LNCO) who knows. I bumped up to ~800 shares in my regular account; still building for when I'll tap it for a paycheck later.
Thanks. I didn't check the divi date on O.
The only biotech I'm looking at is PPHM. I think their idea and story is compelling and has real merit to actually make money at some point.
The only biotech I'm looking at is PPHM. I think their idea and story is compelling and has real merit to actually make money at some point.
Originally Posted By: Pablo
You guys tell me when I should jump on gold miners. GDX for example.
IMHO, the time is now. Miners are working hard to carve a massive inverted H&S with this immediate low being the right shoulder.
You guys tell me when I should jump on gold miners. GDX for example.
IMHO, the time is now. Miners are working hard to carve a massive inverted H&S with this immediate low being the right shoulder.
Originally Posted By: Turk
Originally Posted By: Turk
I bought a little BIS today...
Looks like I bought too little as BIS is beginning to take off!
All-aboard? (imho, use your own discretion, duh)
Nice!
Too late for me.
Originally Posted By: Turk
I bought a little BIS today...
Looks like I bought too little as BIS is beginning to take off!
All-aboard? (imho, use your own discretion, duh)
Nice!
Too late for me.
Originally Posted By: Turk
Originally Posted By: Turk
I bought a little BIS today...
Looks like I bought too little as BIS is beginning to take off!
All-aboard? (imho, use your own discretion, duh)
Yikes, did you check that long term bottom trendline on IBB? Price is right there. I'd be more inclined to buy IBB/BIB. In fact, that looks like an incredible trade for next week for a bounce.
Originally Posted By: Turk
I bought a little BIS today...
Looks like I bought too little as BIS is beginning to take off!
All-aboard? (imho, use your own discretion, duh)
Yikes, did you check that long term bottom trendline on IBB? Price is right there. I'd be more inclined to buy IBB/BIB. In fact, that looks like an incredible trade for next week for a bounce.
Originally Posted By: Drew99GT
Yikes, did you check that long term bottom trendline on IBB? Price is right there. I'd be more inclined to buy IBB/BIB. In fact, that looks like an incredible trade for next week for a bounce.
I'm going on a reversal, or a minor correction as my reasoning.
I only got a little but, barely enough to buy a Saturn with.
Yikes, did you check that long term bottom trendline on IBB? Price is right there. I'd be more inclined to buy IBB/BIB. In fact, that looks like an incredible trade for next week for a bounce.
I'm going on a reversal, or a minor correction as my reasoning.
I only got a little but, barely enough to buy a Saturn with.
Quote:
Yikes, did you check that long term bottom trendline on IBB? Price is right there. I'd be more inclined to buy IBB/BIB. In fact, that looks like an incredible trade for next week for a bounce.
Drew, you called it...
Yikes, did you check that long term bottom trendline on IBB? Price is right there. I'd be more inclined to buy IBB/BIB. In fact, that looks like an incredible trade for next week for a bounce.
Drew, you called it...
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