Despite what market headlines would have me believe, I am still a strong believer in precious metals here. De-dollaring by foreign countries, or at least hedging their dollars invested here is real and ongoing. Goods inflation is starting to re-enter the chat, and the rest of the market is feeling wobbly, to say the least. While I'm no buy and holder of this or any stock, those tailwinds are good ones to have. The stock is still solidly in an uptrend, and there is nearby support as well. Also, it has pulled back 25% already and rallied 5% intraday off its low to close above near term support. I like all of that.
The correction in gold, frankly, is a normal and healthy one in my opinion. Does it continue? Maybe. But I do think it's a bit of an overreaction here. Other precious metals are simply along for that ride. This stock has made me too much money too many times to ignore this opportunity at this level. In fact, I got in yesterday (and again at the close today at 5.13). I think there's a very real chance of a double digit percentage rebound from here.
If you doubt this, I get it. But I would look at those past ideas I've posted and how those turned out before you dig your heels in too hard against this one. But, markets only function when there are opposite viewpoints about the future price of a stock, so have at it if you're a bear here. If this takes a while to resolve, I am not at all opposed to tactically adding more if the opportunity is a good one, or taking profits for the same reason.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
The correction in gold, frankly, is a normal and healthy one in my opinion. Does it continue? Maybe. But I do think it's a bit of an overreaction here. Other precious metals are simply along for that ride. This stock has made me too much money too many times to ignore this opportunity at this level. In fact, I got in yesterday (and again at the close today at 5.13). I think there's a very real chance of a double digit percentage rebound from here.
If you doubt this, I get it. But I would look at those past ideas I've posted and how those turned out before you dig your heels in too hard against this one. But, markets only function when there are opposite viewpoints about the future price of a stock, so have at it if you're a bear here. If this takes a while to resolve, I am not at all opposed to tactically adding more if the opportunity is a good one, or taking profits for the same reason.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.