In light of the ongoing conversation of dollar/precious metals, if I were to take a look at the long side of this, you cannot ignore what copper has been doing into all this weakness in the metals.
Here’s a look at a 10yr profile of Copper futures.
Copper has a similar chart as the metals, up until the puke phase. I’ve been a long term follower of Dr. Copper, using it as a daily indicator from 06-12. After that, it seemed to have lost its predictive value in terms of equity prices.
The relative strength in this is a thesis I am focused on going into next year. I’ve already placed long term money in FCX and SCCO. If I had to play metals, Copper interests me more here than Gold or Silver.
Just my humble opinion.
OA
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OA, I missed initial move of LULU, here is a buy ? Thanks.
$44, yes
Thanks !
Isn’t risk /reward high at 44 if support is 39 and resistance around 46? Why not wait for breakout at this level?
OA is all about the anticipation! why trade it once it already moves and the options volatility go higher? OA is the best at finding the stocks before they move so you can catch the breakout before it occurs.
I’m long from $39.
http://ibankcoin.com/option_addict/2014/08/20/prepare-to-get-lulud/
Thanks OA!
Anyone else holding GTIM from last week’s watchlist? breaking out here
OA, based on the comments section from your GOLD post and the emotions it triggers I’m completely in your camp. The most people to get hurt will be if it sells hard. Might take a little bit of time after this move but I’ll be there.
1220 in GC or 117 in GLD is your place to initiate chief, IMO. I hope we just slowly grind up to that level over the next week.
There are too many longs foaming at the mouth to buy.
LMAO – bearish sentiment in the metals has never been higher. Everyone is foaming to buy equity dips and the USD.
C’mon now. I argued this with you for a year. Funny or not, its been spot on.
you were correct a year ago but not now. not even close now.
That’s ok. I filled my pockets. I’m good.
poor me , i thought there were tooo many shorts selling , so that’s why it will eventually squeeze higher ( like it yet did today?).. but may be wrong …….
Poor you?
just sayin .. not sure is a good place to short gold , top of this we’re going into xmas time so .. you know…
was jdst likely in for a mammoth style run to 50$ .. -after reaching 40 and pull
ops wrong answer ( deleted comment )
I had misread that comment. Long day, super confused over here.
I think…lol.
gold/silver sector has already been washed out Tonto.
gold down from 1900 is like March 2009 for the equity markets.
so 1137 marks the bottom in gold?
Under $1,000
Are we holding JDST? I assume into the fray, but JDST curious. haha
Who ate the most soggy cookies in Vegas? My money is on Zombie
Jeff said he loaded the boat back up YESTERDAY I think.
Original position at 15.70. Booked half last Friday, bought the half back in at 23.50, sold all of it today 23.65.
no more JDST?? booo!!!
Told you. Cursed it.
Take a look at the epic divergence between the yen and gold. The Yen has been pretty correlated with future movement in gold since the start of the bear market in 2012. Unless the Yen is going up sometime soon, I don’t see how this rally in gold can last.
GPRO is going – going GONE!
Did GPRO just buy some NUGT?
bailed on my NQ short for a loss and looking to get long a few things into the bell.This market is so resilient.
Steel looks solid.
STLD is one of my buys! Just waiting a few minutes to make sure we don;t get anything crazy going into the close.
Check out $VALE for a steel play. 3x oversold on daily, weekly and monthly charts using OA’s indicator. Never seen that before. Also sitting right at 2008 lows.
Of the 40 Biotech I have on my screen only one green. That’s a rotation.
SCTY on the move today …
metal BONERS all over the place! Textbook definition of a weekly hammer and HUGE volume.
you gold bears are not being objective
oh that’s right you’re the boner lover too
Gold moves another 200 + if the Swiss pass their gold referendum
NFLX getting chased.
Huge volumes in the miners today – looks like all the energy is gone after this week.
crazy day, seems like a lot is working, while the dow sits. even the 3dprinters getting some love today. and how about Pandora, that CEO is minting it.
bought DEC calls INTC (big position) SCTY GPRO added to BBRY
Bought stock STLD GES
Joined you on SCTY Chief.
What strike did you buy for those Dec GPROs?
I got 90’s you?
Hoping for a retest of 71 before acting.
Joined OA on FCX here with TRQ (Copper with a gold kicker) in lieu of SCCO (I have aversion to Argentina & Peru).
isn’t copper a slow ( much less speculative ) comm?
Depending on the deposit; copper, silver, gold, lead, zinc miners are one in the same….its just a matter of what they choose as their “primary” metal. The rest are just by-product credits. For example, many people think “gold” is what drives the price of gold miners…..its true to a degree, but silver affects many “gold miners” much more. Many of the mines i follow use silver as a major byproduct credit, and the grades and price of silver affect their production costs significantly.
You’d be hard pressed to find a “Gold” miner that doesn’t also produce significant amounts of silver, copper zinc et al. Just an observation of the miners that I do follow closely. Also, from a miner standpoint, its hard to believe that sentiment could be worse…..many of the conference calls i listened to past two weeks were downright depressing.
I cursed it? Cant even admit gold is about rally hard?
This thing was dropping like a fucking rock til you jinxed it. Want me to illustrate on a blog post?
If you like your metal, you can keep your metal. Period.
As far as miners are concerned, we should see a nice pop before years end.
You’re probably the stupidest person I’ve ever read on the internet. Some of the people disagreeing so violently gives me hope for the world. Unless you have some benefactor refilling your account everytime you blow up there will be hope you will gone soon.
lol
I think that’s the troll-iest comment I’ve ever seen on here. It’s so ignorant it’s kind of cute (or at least quaint). Good luck with your physical gold retirement account (held in crawl space for safe keeping). That will be easy to liquidate in your golden years at market price for Cheetos and such.
Yeh go ahead. And ill illustrate how you top ticked the fok out of it with ur posts. Calm the fok down. Ur the one thats always pointing fingers
Yes he top ticked it, BUT THAT WAS THE POINT! When he buys it at $14, and calls for it to go to $40, then posts about it. That’s the point!
After looking at all the CULT/GROWTH/MOMO stocks; they really are looking sweet. With AMZN leading and GOOG lagging. LNKD looks awesome Z just took off. GPRO setting up; BABA up and flagging again. FEYE in full beast mode. TWTR looking ripe. TSLA up $15 in last week. This whole group looks awesome
Interesting read about dispersion.
http://finance.yahoo.com/news/long-nightmare-stock-pickers-may-164520383.html;_ylt=AwrBEiFUjGdUgkAA6ZCTmYlQ
Anyone else like the look of FNMA? Is this the kind of situation where we wake up one morning is it’s trading below $1?