pkf
Junior Member
Posts: 52 
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Post by pkf on Jul 11, 2014 8:27:00 GMT -5
Simple and to the point;
GLD cannot break 126.23 (Jul 7 lows) before it breaks above 129.21 (yesterday's highs). It may not be anything for the miners, but I believe such a formation can make things "difficult" for the bulls.
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Post by simonsays on Jul 11, 2014 8:54:21 GMT -5
For anyone interested, Balmoral is entering my buy zone and would be a good solid buy and hold. The chart is really nice.
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Post by sb on Jul 11, 2014 9:20:15 GMT -5
It's good to see volatility coming back into miners.  |
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Post by simonsays on Jul 11, 2014 9:30:07 GMT -5
Looks this morning like yesterday was profit taking. I was expecting a weak open. Still early however....
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Post by simonsays on Jul 11, 2014 11:13:16 GMT -5
Daniel, please quit picking on Tex!
Edit: I'm being sarcastic btw.
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Post by simonsays on Jul 11, 2014 11:37:53 GMT -5
Miners new HOD. I just love how this sector is performing, keeping the bulls and bears on edge.
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Post by sb on Jul 11, 2014 11:52:08 GMT -5
Somebody asked about EXK yesterday, since I try not to focus too much on individual names, I just realized that it's another name that has been recently busting into new 52 weeks highs. This type behavior in several miners will put them all over investors' radar as buy candidates.
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Post by daniel on Jul 11, 2014 12:08:52 GMT -5
Somebody asked about EXK yesterday, since I try not to focus too much on individual names, I just realized that it's another name that has been recently busting into new 52 weeks highs. This type behavior in several miners will put them all over investors' radar as buy candidates. I do not know what it is about the guy but he will make statements as if he is the all knowing GOD! I see it and it will really rub me the wrong way! I try to disagree politely and explain that what he says is not true but I guess that is like talking (discussing) to (with) the wall!!! |
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Post by daniel on Jul 11, 2014 12:25:29 GMT -5
OOPS sorry SB... i quoted you when I meant to quote Simonsays comment!!! LOL... going too fast and attempting to do too many things at once!! Sorry again!!! |
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Post by daniel on Jul 11, 2014 12:26:11 GMT -5
Daniel, please quit picking on Tex! Edit: I'm being sarcastic btw. LOL.. see my comments above... this is the quote I meant to copy and responfd to |
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Post by sb on Jul 11, 2014 13:51:22 GMT -5
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Post by sb on Jul 11, 2014 13:52:47 GMT -5
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Post by sb on Jul 11, 2014 14:14:47 GMT -5
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Post by sb on Jul 11, 2014 15:10:27 GMT -5
Nice close to the week. This action in miners is reminding me more and more of the late summer rally in 2012, where the volatility shook longs off the whole way up. Be prepared for sharp down moves in an overall uptrend for awhile, it's how the bulls shakes riders off. Whatever my accounts backed off yesterday, they made back and then some today. It'll be a hairy ride for those compelled to act every day. I might have to step away so I don't get pulled into calling every little move, at times it's the only way to stay focused on the bigger plan.
Have a great weekend and don't forget to catch Germany vs. Argentina on Sunday!
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Post by simonsays on Jul 11, 2014 15:25:29 GMT -5
Nice close to the week. This action in miners is reminding me more and more of the late summer rally in 2012, where the volatility shook longs off the whole way up. Be prepared for sharp down moves in an overall uptrend for awhile, it's how the bulls shakes riders off. Whatever my accounts backed off yesterday, they made back and then some today. It'll be a hairy ride for those compelled to act every day. I might have to step away so I don't get pulled into calling every little move, at times it's the only way to stay focused on the bigger plan. Have a great weekend and don't forget to catch Germany vs. Argentina on Sunday! Yeah, there is a lot of flip flopping out there on the internet and it is easy to get distracted and become impulsive. All I know is that big money seems to be piling in here and many charts look like they are getting ready to break out on the weekly. Now is the time to be agressive imo (not this minute of course). Not that it really matters but I can't help but think the recent chatter of bail-ins along with negative interest rates for depositors in Europe are really driving the gold market. Throw in a few failing Portuguese banks and some anti-USD chatter and maybe big money is starting to see the writing on the wall. Like Rick Rule said the other day, the physical market may be starting to drive the paper market now. Of course no one really knows but it's fun to speculate. Have a great weekend! Go Argentina!! |
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Post by simonsays on Jul 11, 2014 15:28:06 GMT -5
And oh yeah, does anyone else find it ironic that two previous victims of hyperinflation will put it all on the line for the world cup?!
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Post by sb on Jul 11, 2014 15:42:09 GMT -5
Looks like Argentina will get spanked first, if not by Germany then for sure by hyperinflation. We might have to change our plans and visit Brazil this year instead.
The thing we need to remind ourselves about the bigger money beginning to pile in (which I think you are correct), it's that they are not short term traders. It takes a lot of time getting into position with size, same with getting out if you don't want to get hurt badly in the process. I think there are some big fish biting but this is still only the beginning IF this ends up being the big turn as some of us feel. The most conservative types have yet to consider owning a lowly miner while they are up to their eyeballs in "blue chips" and the safest of all, bonds, via 401K's and IRA's (retirement plans are how most people own paper investments).
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Post by simonsays on Jul 11, 2014 15:53:37 GMT -5
Agree on the big money above.
No travel to Argentina? A little too financially volatile?
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mp
Junior Member
Posts: 77
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Post by mp on Jul 11, 2014 15:57:09 GMT -5
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Post by sb on Jul 11, 2014 16:25:46 GMT -5
Argentina is not a problem for us unless we need to get cash through any kind of plastic (ATM), or want to use a credit card, in which case the Argie gov't will try to skim roughly 40%. I refuse to fund the rats in gov't there. We're flexible in all decisions, and we're currently bordering both Arg and Brazil, smack in the middle. No matter where we go first, we will explore both places over time, there is no doubt on that. Brazil wasn't my priority b/c I wasn't keen on learning a new language that I can't use anyplace else, but after researching more we will have to see at least the southern part of the country. The problems in Argentina will likely only affect us with regard to supplies and shortages, not worried about riots or safety in the areas will be when and if it happens as we anticipate. My preference is to catch somewhere near the end of downslope/collapse rather than get right in front of it. Argentina has felt a long decline into where they are headed, but not the sharp drop (overnight type stuff). Anyway, it's all open and plans could change at any time. Keeps in interesting. |
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mp
Junior Member
Posts: 77
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Post by mp on Jul 11, 2014 17:16:37 GMT -5
Argentina is not a problem for us unless we need to get cash through any kind of plastic (ATM), or want to use a credit card, in which case the Argie gov't will try to skim roughly 40%. I refuse to fund the rats in gov't there. We're flexible in all decisions, and we're currently bordering both Arg and Brazil, smack in the middle. No matter where we go first, we will explore both places over time, there is no doubt on that. Brazil wasn't my priority b/c I wasn't keen on learning a new language that I can't use anyplace else, but after researching more we will have to see at least the southern part of the country. The problems in Argentina will likely only affect us with regard to supplies and shortages, not worried about riots or safety in the areas will be when and if it happens as we anticipate. My preference is to catch somewhere near the end of downslope/collapse rather than get right in front of it. Argentina has felt a long decline into where they are headed, but not the sharp drop (overnight type stuff). Anyway, it's all open and plans could change at any time. Keeps in interesting. One way to exploit Argentina is to bring dollars there, and it wont take a lot of it either.. and just buy stuff you think you can sell here in Canada. ie. importation of used or cheap goods. They will be willing to sell anything for the dollars.. |
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Post by simonsays on Jul 11, 2014 17:18:44 GMT -5
Flexibility is key SB and it sounds like you guys are both flexible and patient. Those fee's are quite excessive but not surprising I suppose. Keep me posted, as it is always good the hear about what may be coming our way policy-wise and how it affects day to day life.
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Post by MoonCow on Jul 11, 2014 19:06:13 GMT -5
Daniel, please quit picking on Tex! Edit: I'm being sarcastic btw. LOL.. see my comments above... this is the quote I meant to copy and responfd to As long as you didn't "confirm his bias", lol. |
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Post by platy on Jul 11, 2014 20:15:38 GMT -5
Both Zimmel and Merriman (astrologers who I really respect) are saying gold's bottom is in.
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Post by platy on Jul 11, 2014 20:17:41 GMT -5
For the longest time I thought I was the only one who that guy irritated.
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Post by MoonCow on Jul 11, 2014 20:59:41 GMT -5
I just took a look and saw Tex is bashing Faber. Well, firstly it is completely wrong to claim, as Tex did, that Faber was bearish since 2008. He very publicly advocated buying equities in 2009 and everyone thought he was nuts. I remember the expressions on the TV bobble-heads' faces when he came out with it. That is the kind of contrarian call he is famous for.
I was a subscriber for about 18 months and he often made quite specific contrarian suggestions that looked crazy but were spot on. Recently, just before the current run in miners (and I mean a few days before it started) he said in an interview that he thought there were very few opportunities for good returns, "except if you want really large returns you could invest in gold mining shares ... but I mean who is going to put all their money in those?" (paraphrasing from memory).
Also, when Faber suggests equities, he is not buying S&P, he is buying selected Asian shares eg. in Singapore, Thailand etc, which pay high dividends (eg. 7%) and are far better value than the S&P.
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Post by daniel on Jul 11, 2014 23:10:52 GMT -5
I just took a look and saw Tex is bashing Faber. Well, firstly it is completely wrong to claim, as Tex did, that Faber was bearish since 2008. He very publicly advocated buying equities in 2009 and everyone thought he was nuts. I remember the expressions on the TV bobble-heads' faces when he came out with it. That is the kind of contrarian call he is famous for. I was a subscriber for about 18 months and he often made quite specific contrarian suggestions that looked crazy but were spot on. Recently, just before the current run in miners (and I mean a few days before it started) he said in an interview that he thought there were very few opportunities for good returns, "except if you want really large returns you could invest in gold mining shares ... but I mean who is going to put all their money in those?" (paraphrasing from memory). Also, when Faber suggests equities, he is not buying S&P, he is buying selected Asian shares eg. in Singapore, Thailand etc, which pay high dividends (eg. 7%) and are far better value than the S&P. Mooncow....... You are spot on. |
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