We are looking at a potential 7 year consolidation breaking out. I own some NUGT and will buy more on dips. But I’m not expecting any. If you’re ignoring this move, then you are willingly ignoring a sector with extreme upside. Aren’t you aware that gold stocks are valued for zero growth in the gold price — now stuck at 1.5x sales?
Did you know during the halcyon days of when gold was relevant, the gold miners traded at 5-7x?
You’d be wise to play gold each and every time it looks to be breaking out. Because one of these days it will and you’ll blow your brains out for missing out on such an opportunity.
Markets went up. War with Iran is imminent. Nothing can stop stocks. Yada, yada, yada.
I bought a bunch of stuff today, one based off the IPO FVRR today and several other growth and old man plays. I am positioned for a low rate environ. If you want to see, you’re just gonna have to join the league of gentlemen inside Exodus.
Good day.
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Not sure how NUGT and GDX calculate their stats, but the P/S for top-10 underlying holdings are all well above 4 and the PEs (for the ones that are actually profitable) are through the roof.
Check out the top companies here:
https://finance.yahoo.com/quote/GDX/holdings?p=GDX
and then click on “statistics” for each symbol and see for yourself (Price/Sales)
This is not a Fundamental value play by any means, but a speculative Technical play (that may or may not work out). You have time anyway, as first the miners have to get through the 3-yr resistance levels (seen on GDX at $23.3-$23.5, and at ~$25) and gold itself above $1350.
Here’s your gold charts: https://www.kitco.com/charts/livegold.html
GLD up 2.78% YTD
VGT up 30.23% YTD
Very nice. Will be slightly less so tomorrow – see AVGO
WHY WOULD YOU COMPARE GLD TO STOCKS?
Compare gold to the dollar over the past 20 years.
I’ll wait
PTJ agrees
https://www.bloomberg.com/news/videos/2019-06-12/gold-is-paul-tudor-jones-s-favorite-trade-for-next-12-24-months-video
The higher you go
the less likely you get
The Cut
And you’re only here
because of supposed cuts
guess what That Means…..
They like to scrotal punch the metals overnight. So, by buying the metals’ futures with appropriate stops in place, you have less risk than gambling with triple etfs.
Kind of a breathless take. Then again gold has moved like this since…a few months ago…a year or so ago…2 or 3 time in 2017…a couple of times in 2016.
Well anyhow I suppose you are right this time.