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Right now (12:20 am, July 29th), the dollar is below it’s support line of $82.00 at $81.993. If this break holds, the next stop is $80, and MOOOOOOORRRE!
I am not going to screw around with any charts, as I am tired even unto my bones. But don’t let this minor negligence keep you from the Christmas presents that you can gather and mail yourselves early, here in late July.
You know the recommendations. If you don’t you can surely ask. I’ve added to my hordes of SLW, ANV, EGO and IAG in the last two days, and tomorrow, I may even add some AGQ and EXK and PAAS because I think the silver exposure here could be even more bountiful than that of the gold.
Lastly, RGLD is right on on it’s 24-month EMA, and that’s held as support since the end of 2008. That’s right, you read that right. I have metric tonnes of this stock (like I do SLW), but I may even get some more myself tomorrow, as it’s some 15% from its recent highs, and I think it, too, is done pulling back.
Caveat: there may be some more “down” to go, but I would be reluctant to bank on it. These are rare times, and rare times often mean opportunity.
Best to you all.
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I’m holding;
IAG
ANV
FRG
MVG
EXK
XRA
Trying to decide which to add among;
SLW
PAAS
EGO
NGD
I suspect you’d say SLW is a must for more silver exposure. Then EGO ?
What’s your thinking on NGD? El Morro sounds promising and GG partnership could lead to something bigger but with Cerro San Pedro problems (30% of production) does that make it a sell/hold rather than buy?
Thnx for your thoughts on these pieces of eight … #8
I own all those but like the top 3 best. You should own SLW until it is bought out.
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Ok, SLW it is … Thnx!
Good job at buying the support on ANV … knew if I was patient I’d get it at a good price eventually!
I think gold is going higher too, but for diff reasons.
BTW: there is no such thing as support or resistance. It’s all a state of mind.
You sure about that… forces of market come into play at specific levels and it is how trends are established or why some things are corrective and others are simple in for doom and gloom
Your PPT if you don’t mind simply tries to judge where demand or supply will enter market by judging how overbought/sold something is.
ahh maybe so,but a fair level field none the less.
There is no spoon…
Disagreud!
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Jake,
I’m already at about 14% of the port with precious metals. Would you take it higher?
Also, what’s this 34 week ema stuff. Please enlighten me. I probably haven’t read enough..Oh and also, how would that 34 week ema break down into days?
Plus, thus far I have GLD @ 5%, IAG@5%, SLW @2.5%, & ANV @ 1. 5%. So what would you add and at what percent?
Hoping for a very Merry Christmas!
I am not going to tell you how much to risk, Lenny Brisco, cause I don’t know your circumstances. I can tell you that my top five in order are:
SLW
RGLD
ANV
EGO
IAG
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Jake, what does it suppose to mean “the dollar is… of $82.00 at $81.993…”?? If that’s a ratio, then to what? If it’s some futures, then what’s the maturity period? Otherwise it’s confusing.
I just mean it’s below the support line at $ 82.
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Jake, starter position in AGQ 55.40 here. Thanks for holding my hand:)
Damn, where is that magnifying glass? I was burning ants with it last time i had it, hmm.
Dollar breakdown, baybee!
Grab the money
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Gold went up with Euro weakness – down with Euro strength; now almost everyone is thinking that the Euro is the only thing that moves gold …the negative press on gold is nearing hysterical on Bloomberg this AM.
Anyway, as I’m sure you know, it touched a 50% retrace of its last major move up yesterday.
Very nice
Should have bought more ANV.
JIG = JakeGint is God. While Le Fly has been busy fighting to get a measly gain in the likes of VXX, Jake called the change in direction in Gold perfectly. Congrats on the perfect call. I am as happy as a clam with my new position in ANV, thanks to you!
Congrats on ANV – nice rocket off of support. Wish I could say the same for the metal …too early to call this a turn IMO.
Thanks Mons.
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