Precious Metals Observations

By -

  1. This is the first time in a long while (that I can remember) that the goons have not absolutely pummeled the precious metals after FOMC has baffled us with their bullshit and moved along. Then again, CoT has implied that the right goons have been on the precious metals side lately, especially in silver.
  2. Certain precious metals sector big picture technicals are becoming very bullish in affirmation of the big bottoming pattern (HUI) that NFTRH had on radar well before it became ‘known’.
  3. It sure was entertaining watching the ‘new lows coming in July’ brigade scatter and flip a switch to bullish a few days ago. Look at former darlings DUST and JDST now.
  4. Take a look at silver’s weekly chart.
  5. Take another look at silver’s weekly chart.
  6. Take a look at silver vs. gold, it’s over bought.
  7. Take a look at HUI vs. gold, it’s over bought.
  8. And both of them are highly constructive toward our longer term bottoming pattern, although over bought is over bought.
  9. Have balance.
  10. Have patience.
  11. Don’t try to make up all your losses (if you didn’t take risk management measures in the bear market) in a day. It’s not gonna happen.
  12. Things are changing and the dynamics coming into play just might mean more dynamic money making opportunities going forward. Opportunities to alternatively grow and preserve capital. This is what we wait for people.
  13. Gold is monetary value. Always was. Nothing more. Tune out the pumpers, who will now grow more vocal.
  14. But the associated speculations… now those can be fun. If/as the bottoming scenario solidifies, it could be an extended phase where speculation works well.
  15. Did I mention that the sector is getting over bought?
Bookmark
Do NOT follow this link or you will be banned from the site!