Everyone wants to “V-Shape” up, after yesterday’s carnage. More specifically, buyers of gold and silver miners want a sharp snap back rally to allay the pangs of misery that have been inflicted upon them.
As you can see, early on, sellers are controlling the tape. Mind you, these aren’t short sellers, but people who’ve been zeroed out, forced to liquidate their accounts.
Post disaster, you can expect this sort of relentless selling pressure to persist, until the last weak hand lets go.
If you are long miners, refrain from averaging down. I suspect you will get cheaper prices.
As for the market, it might trade up a little. But to be frank, this isn’t the season for cocaine gorilla runs. Without a catalyst, we can drift lower until the market demands even MOAR stimulus.
In the big scheme of things, the market needed a little give back. Let’s hope and pray that the give back doesn’t metastasize into something debilitating.
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In and out of DSLV and ADQ as the winds change direction….money printing has commenced. Thanks Fly.
AGQ, they did not have sesame street in my home town.
A game
Natural gas didn’t get the same measure of beating as other commodities
Natty is the best performing commodity ytd.
Live Feed of Boston FBI Presser
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This would not have happened in NYC.
What, a terrorist attack or a press conference in the wake of a terrorist attack? Because you are wrong on both accounts.
V-shaped bearded clams are achieved with an ultra sharp razor, not dreams and restraints and platitudes. NO narrow landing strips.
“In the big scheme of things, the market needed a little give back. Let’s hope and pray that the give back doesn’t metastasize into something debilitating.”
I thought you wanted the general market to more or less crash, so you could buy other people’s margin calls?
Just politely enquiring for clarification.
.
Holy chit this AG is still getting hammered into the ground even with silver up. Fly are you adding to this, puking it, what?
Re: miners – I know you have done this already – and if you haven’t I might suggest it – take a look at the longer term, monthly charts of the miners you like. You can take a stab at it, or be stabbed by it or let things settle down.
I see vcutrader buying the silver miners – I thought about SIL – what’s the catalyst other than dead cat bounce. I don’t feel compelled to trade them and if I miss a move, oh well, there’s other fish in the sea to throw bait at.