Adding to my [[NG]] horde here, with an additional 4k @ $4.94. I like how it came back down and filled this morning’s gap and then proceeded to power on. I think the junior miners may point us the way out of this recent pullback, so I will be keeping a close on them for all of us.
Note that recent Tim Knight short [[GLD]] also need to fill this morning’s gap at around $91.24. A fill and bounce here would be very encouraging.
Silver is also showing signs of an “inside day” candle formation , which would be good news for a possible end to this recent pullback as well. As predicted, the $HUI is bouncing today, up about $2, off the trend line and the short term 50% retracement line.
All of these point to signs of a respite, as the dollar is off a bit as well. Let’s be cautious, but judicious in our picks here.
Caveat: If you follow me into NG, your favorite poodle may be accidentally pepper sprayed in a police dog obedience class gone disasterously wrong. And you may lose principle.
Update: Even though I’m officially “full up” in the position, I just added another 2k of SLW at the lucky number of $8.88. Serious (38.2%) fibonacci line here if it holds. Thanks to whomever gave us the phrase “moth hands.”
Update: New pick, bordered on the verge of Jacksonian, but too much geography risk, being located in South Africa with it’s “sorta” stable government and kooky neighbors. Gold Fields International — [[GFI]]. Just bounced off it’s TEN YEAR 61.8% fibonacci retrace at $11.42 this morning. That’s like a signal from above. “Starter” position of 2k shares @ $11.67.
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Interesting formations in the precious metals today
Jake, what do you think about EXK at these levels?
Seems to be an odd ball today but looking egregiously oversold
Interesting formations in the precious metals today
Jake, what do you think about EXK at these levels?
Seems to be an odd ball today but looking egregiously oversold.
Boomer, new band for you:
Great name, great accents, great first track.
Who knew you could do so much with a guitar and some marching band bells?
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Update: Just bot 2k more SLW @ $8.88.
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NG BTFO at $5.17 (+8.61%). ANV (+6.42) also making some moves here, as NGD (+7.97%).
Junior miners, showing the way.
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Update: New pick, GFI… one I’ve owned before, but did not have recently. Just shot off it’s ten year 61.8% fib retrace today at 11.42. Don’t see that often… I’m in for starter 2k @ 11.67.
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GFI looks good.
And you may lose principle…
No fear, I have no principles to lose.
Thx Jake, bzy day. Ill check it tonite
Anon — Sorry your comment got caught in the spam filter.
I agree that EXK is egregiously oversold and even more so today. Unfortunatley, you are going to have to expect that in these “junior-juniors.”
There’s two ways to play them. Either you buy them for the short term pop, or cut them quick if they fade, or you buy them to hold them for them major run-up, for the five to ten bag hold.
That’s my strategy. Since I don’t put a huge amount in a name like EXK, I can afford to hold on, and maybe even add some at opportune moments like today.
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