Ride the Wave (Down)Waiting for the fifth wave down to be complete. Gold miners are uncertain - acting more like stocks. Short here.
Everything in life is a gamble.
-Kendrick Lamar
Miners
BNNLFBannerman Resources had an epic 48% pump today off the lows and I don't this that momentum is over, with spot uranium prices moving up above $27 Bannerman looks good here IMO with little to no debt, smart cash management, and mines located in Niger Africa that can produce uranium to market and fill contact orders much faster than many larger closed down mines (due to COVID19) I think the market is going to give this little uranium company a big price increase in the coming months.
JDST Long, Sell point around 12$If it brakes the MA 180 days then we can think about rebuying the pull back.
Platinum Breakout & Palladium Blow-off TopPlatinum at current levels presents tremendous value. The precious metals take turns outperforming and underperforming. In the late 90s palladium went into a bubble while gold, silver, and platinum bottomed out. Then throughout the 00's palladium moved sideways while platinum, silver, and gold all outperformed.
I believe we are nearing a similar setup where US stocks will enter a blow off top and palladium will follow. Following this blow-off top platinum and silver will begin to drastically outperform.
Additionally, the more expensive palladium gets, the more likely industry will find ways to substitute towards platinum. This is especially the case since most of palladium demand comes from China.
Be keeping an eye on these metals, along with gold and silver.
Are We About To See ETH Dip Back Down...?So is this the time we get to see a big drop down in the market, we've been consolidating a long time, but it's beginning to look more and more bearish.
I personally would not recommend long positions right now, certainly looks more likely for shorts given the price levels and price action.
Gold mining ETFs are not worth anythingWeekly target of $23, long term target ETF delisted.
Gold mining companies derive their value from the gold they produce. Their value will never increase in a greater percentage vs. actual gold because paper traded gold does not have the same built in overhead costs that companies have.
Owning gold mining stocks, ETFs, baskets, etc. have no relation to the reason for owning physical gold and I don't see how mining companies would be immune to the global sell-off.
BTCUSDwhat do you think of this way?
It will not be profitable for miners to sell their assets at a cost of less than $ 6000
www.bitcoinblockhalf.com
BTC: $7529 | Playbook to $24995 | Red Pill or Blue Pill either pill when that CEiLING LINE is disrespected after the Satoshi Round Table and Halving
it's all clear BLUE SKIES toward FRESH HIGHS
for now Miners and the usual SPONSORS are just SHAKING DOWN amateurs
mostly neophytes or getting volume below 7k levels
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short sellers may get squeezed any moment when one greedy whale
starts to take a huge position one time
long players keep the size at decent levels and always expect a NEEDLE -35% below key levels or FLOOR areas
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BOMBA: Buy on Massive Break Away on either Red or Blue ZONE
Waiting for some more pain before going all-in.Waited to get in SAND at 6 USD for months, now with the general market sell-off, I could not have dreamed to get it at such low prices again. As Eric Sprott said about SAND "growth baked in"! Very good ultra-long play for the coming 5-7 years!
Short to $15-16This came in meditation back on 1/13 with the word "Rangold" I guess so I don't confuse it with the metal. I also got the number $22. When this has happened before, you expect it to get to that number and you best get out.
I hesitated in posting this partially out of laziness, or maybe fear that it was accurate information and a bit freaky. Regardless, the idea is these are done and it's definitely working, so why not share and also keep for my records?
Symmetry resistance held up yesterday with a nice follow through this morning and breaking an important symmetry support at $20.79. I'm looking for $15.10 area. That seems pretty ambitious, but that's what I'm getting.
IAG - excellent follow throughDiscussed that NYSE:IAG may have bottomed two weeks ago. And price action in last two days on very heavy volume supports the fact that it really did.
Now it is approaching resistance zone and neckline of inverse H&S. Might rest for a while, but when resistance is cleared, nothing should stop the rally later on.
EGO $EGO Eldorado Gold 158M Shares O/S - Strong 32% Ego with a Strong move out of the ascending triangle after a earnings surprise. Gold is looking like an excellent hedge here against the spreading corona virus and slowdown of economic growth. EGO has a heavier position with me due to its smaller share structure, a lot of these miners have really high share counts and wanted to be better positioned in one that could move strong on some serious momentum. Another notable mention I Like is HMY Harmony Gold a strong position there aswell. Stocks are overvalued and I don't see any better place to be than gold... Please drop a like and follow guys feel free to reach out in my message box Aswell. Goodluck. Long $12 Calls.
Gold Miners in a dual pattern breakout - Rally Alert!Just building up, the GDX Gold Miners, which were lagging Gold prices for a while, is now on the verge of a breakout... from a tilted Cup & Handle Pattern, as well as a Triangle.
MACD and OBV are bullishly supportive, and momentum is strong.
A breakout sets an upside target of 32.50.
Enjoy the ride!
Austral Gold 10 BaggerCheckout my other post for some fundamentals, looking at the long-term chart view of AGLD we can see that a possible bottom has been carved out and is forming a bullish inverse Head and Shoulders pattern. As gold continues to rise, the un-hedged production at Austral will continue to generate cash to fund drilling and acquisitions without dilution. A dropping gold/silver ratio will add value quickly to the paused casposo asset.
I personally expected gold to break $1600 by the end of Q1, it did that by the end of the first week of 2020. With that sort of interest in the metal I would expect gold to trade up into the 1700-1800 zone by year end and possibly even record highs by this time next year.
Austral just posted new drill results 7km from their existing chilean operations. highest section was 19g/t over 1m.
GLTA.
TSXV:AGLD
XME (Metals & Miners) are BullishXME is the metal and miners ETF. See reference info here .
It is Not Yet bullish, nor rallying, But appears to need to close above 27.50 for the week for it to properly attempt a technical bullish rally...
GDXJ long ideaTo me I am finally getting a buy signal on miners. GDXJ has been supported by the 50 sma and is getting a move higher. The upper trend line was crossed, BUT we didn't close above it yet. I do see a cross of the 8sma and 13ema which is a buy signal. I had a buy signal on AXU yesterday. Pretty close to lift off.
Royal Gold - another miner to buy at supportNASDAQ:RGLD is one of the leading stocks in gold mining industry. It started major rally earlier than majority of other miners last spring. And was one of the first stocks to caution that pullback is likely in AMEX:GDX in January 2020.
Right now it sits right near major support level, and in bullish scenario this is constructive level from which new leg higher should start.
IAG - bottom in place?Few weeks ago I mentioned that NYSE:IAG is in good area to make a bottom, and based on recent price action, good odds that bottom is already in (for bullish case to be valid).
Major potential inverted H&S in the making and should not really go below 2.70$, where I am also placing my stop
