iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,238 Blog Posts

Fly Buy: $SBGL, $HMY, $SAND, $PYX

I’m not falling for the shorts now. The market has broken lower — but the day isn’t done yet.

Nevertheless, there are things to buy, namely gold and pot.

PYX is breaking out. Analysts don’t like it — I do. Break up value is higher.

With gold on the verge of sperging out — I bought HMY, SBGL, and SAND. Add NUGT into the mix, I have 30% of my portfolio long gold miners.

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14 comments

  1. edge

    Considering that the world can/will pump more oil than can be used… long has more risk.
    Short is on my mind, but the lesson of the last ten years is that short positions lose money. Not to mention that we just saw a 10% or so tear. Look at a chart, so far a nothing little pullback. We all know it is late but this bull never dies.

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    • ferd

      “ten years is that short positions lose money”

      The bullish training of participants may be complete; a necessary ingredient for a bear.

      The market is guilty until proven innocent and I remain short the market …except for silver and certain happy drugs.

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      • edge

        I was actually very bearish from early December up until two or three weeks ago. Thankfully, I always watch price action and was buying by Christmas. Next move??? Gold looks good. About all I can say for now.

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      • alty

        Edge is not part of the unwashed masses. His biggest strength is side stepping bear markets

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        • edge

          I remember you. The guy that gave me shit for holding UVXY and SPY at the same time, even though they both made money. You’re kind of a jerk.

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  2. skunkbuttstew

    GOLD, Bitchezz!! (disclaimer: I am old) Silver will follow gold, it always does.

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  3. ammy hour

    OR looks good

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  4. helen

    Why HMY? Just curious?

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    • ferd

      Draw a trend line from its 2016 high then touching the 2018 high and extend to the present. It broke that trend to the up side this week. Fly is what he Himself used to deride as a “chart fag”.

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  5. dae42

    Prepare for disappointment, goldfags.

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