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
19,521 Blog Posts

LOOK AT GOLD. LOOK AT IT GO

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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8 comments

  1. numbersgame

    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

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  2. MSGT HARTMAN

    GLD up 2.78% YTD
    VGT up 30.23% YTD

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    • ferd

      Very nice. Will be slightly less so tomorrow – see AVGO

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    • Dr. Fly

      WHY WOULD YOU COMPARE GLD TO STOCKS?

      Compare gold to the dollar over the past 20 years.

      I’ll wait

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  3. it is showtime

    The higher you go
    the less likely you get
    The Cut

    And you’re only here
    because of supposed cuts

    guess what That Means…..

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  4. ferd

    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.

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  5. WrongView

    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.

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