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Loading ...How would you like to be short silver today with magic number resistance at $35 closing fast?
I mean there’s gotta be a number where the knuckleheads in charge are going to start seeing profound defections. (i.e. short covering – Bank of America we are calling you … you idiots)
A two-day close over $35 would signal a progressive interval buy signal to $40. And a two-day close over $40 would signal a move to $50.
Put that in your pipe and smoke it.
Chuckle … choke … chuckle
whatcha think? 35 bucks by quitting time???
I’m sorry to hear what happened to your daughter. My son also has a motorcycle, and it worries me. In the local paper here, I read about numerous cycles getting cut off by idiots from the opposite direction, and making a left turn across the path of an oncoming motorcycle that has right of way. Years ago I saw one happen in front of me. A jerk in front of me made a left turn in the path of a biker. Lets hope she recovers totally.
I think that’s right. It’s likely to start with the hedge funds. PM’s are frowned upon in the US by the banking system money managers. Investors like Buffet and Munger trash them as non income producing assets. But continued high metals prices and steady earnings growth with dividends will change thinking. The banks and government have trashed this sector so much and made prices in the metals unreliable for so long, no one wants to touch them other than for a trade. Hopefully we’ll get there.
She’s in surgery now. It’s gonna be a longer road back this time. And her other said back fractures too. Same as last time, some idiot cut right in front of her.
PMs hanging in there, step by step dollar to dollar.
Sitka Strikes the Gold Motherlode
http://www.321gold.com/editorials/moriarty/moriarty102224.html
I’ve noticed over the decades, when one sector or group of stocks is doing great, investors ignore all the lagging things, especially precious metals and related mining stocks.
Even real estate. There are SO many inflation hedges, including bit coin ETFs etc that they created, plus prior gov’t bashing of us, that constantly drew people away from PMs.
Well if the investors start noticing Gold Silver and related high profit miners, going up and up, hopefully they will start ignoring popular stocks real estate etc, and start focusing on our sector.
and it’s only noon! ca-ching!!!
$34.80!!!
Approaching 4.22%
Can’t be good for markets can it? Or the economy. Housing is already toast.
Silver up a buck! Nyuck Nyuck!
“except for checking location of mines these days.”
That’s a biggie. If a co has operations outside of a few favored locations I don’t pay any attention to it. Even Mexico is not so good anymore.
A little stronger today and the shares confirming and getting a little better volume. Makes me wonder how we’ll do if there is a SM correction. I suppose it will matter why we have the correction.
Otherwise, I think the SM is just staying elevated because the western fiat continues to lose value. Not sure what would cause the SM to correct, banking collapse, meltdown in bonds, 9/11 style false flag? Funny but any of those events should be bullish for pm’s.
Silver might just get unruly again today. Love it. Let the shorts burn. ?
$34.70 !!!
Chart of that once often mentioned stock. I still have a core position.
I tend to do my own guesses but if a name is not on my watch list…
or I forget to look at the chart as with Westgold.
It is time consuming to keep track of positions and watch list. I end up with too many positions because I limit the amount risked on any given name – again perhaps too risk conscious. And I am not a fan of funds or etf’s.
I trade simply by the chart look except for checking location of mines these days.
aurum
This fellow “Gold Ventures” talks a lot about juniors. Has a PF … I don’t know his track record.
No, not Westgold, that has been on my list for a long time. I had a sizeable position once but traded out. Looking at the chart now, appears I should have taken the ride. At the time, I thought I wanted to rotate into more silver stocks so sold some gold stocks to keep my trading account in the commitment % I had for pm’s. Perhaps I am too much about risk control, but my investment horizon is probably short because of my age.
aurum
Just trying to remember the name. Perhaps it was another poster.
Oh well, putting some trading profits into small positions for fun.
Thanks.
Cheers.
aurum
Howdy aurum
I may mention a stock without any particular opinion about it. That said I don’t recall the one you are referring to? Maybe it was Westgold Resources? Which I think is pretty solid but Australian and I got charged a $50 commission by Schwab … of course if you’re buying beaucoup shares this is of little import.
Cheers
PS I kinda liked Sitka’s drill results yesterday … in today’s news.
Doesn’t seem to matter does it?
The stakes in Kazan could not be higher. By the end of the week, the Global Majority will know whether Kazan will go down in history as the landmark of a new, emerging system of international relations, or if crass divide and rule tactics will keep postponing the inexorable demise of the Old Order.
Some days ago you mentioned Sitka Gold. As I recall you also mentioned another penny stock either in that post or another earlier post. Maybe it was Honey Bear?
double duh! Senior moment as excuse. Honey Badger
Trying to add to my watch list and can’t recall names. I did buy a little Sitka when it moved a bit lower though still overbought. Thinking about smaller positions in some penny stocks for fun.
aurum
To be honest, this action is starting to feel a bit like the action on Friday.
Yesterday, they were unable to even close silver lower. They got us in the red slightly for a little while but couldn’t hold it.
Dollar just slipped back to flat, as they beaten back rates another bip to 4.17%
I don’t think they can stop pm’s from moving higher if the dollar moves lower now. The dollar fell on Friday and we had the monster move. Just saying.
This is where they like to take us down a notch. Not seeing it yet, even in the face of the dollar now up again. Not sure what’s stronger, pm’s or the dollar. They have rallied bonds a little, getting the 10 yr down from 4.2% to 4.18%. Not much of a rally, but I think the Fed has to step in regardless of what the metals are doing. Rates are now up almost 3/4% since they cut 1/2%. Not how that’s supposed to work. Makes me wonder if the world is dumping our bonds en masse, except for the captured western nations.
I can see them in there trying to drop bids and flush GLD and SLV, but with very little success so far. The sellers aren’t biting.
touching $34.50… looks like the fuse is lit.
$34.60…