A good entry point for gold bugs such as AUY/NAK/GORO. Companies are on the edge of profitability and stocks are at historic minimums. Gold is moving abruptly higher and silver looks like ready to rally at least temporarily (for 2-3 months during summer 2019). Further upside is also possible with SP500 breaking loose. My previous analysis of gold can be wrong and gold can be moving to new highs already now.
The idea is to form a portfolio of
POLY - 50%
AUY - 16%
GORO - 16%
NAK - 16%
where AUY/NAK/GORO will constitute the volatile/speculative part and POLY provides a solid base. The trade is coupled with a trade in silver futures. Total holdings of precious metal stocks is ~10% of the portfolio. Total risk exposure is 1%.
Where the analysis can be wrong:
Out of 3 stocks, only AUY demonstrates some degree of confirmation on a weekly chart. However, this may be due to the lagging behaviour of stocks vs. underlying commodity and falling SP500 (I think).
Gold can retrace and silver can make another low. This most probably results in losing >1% of the deposit and I will have to reenter the trade at a later date when confirmation is available.
You know what. I will split entry in stages. Today I am buying futures and AUY. Tomorrow I am adding GORO and NAK if price confirms the direction.
The idea is to form a portfolio of
POLY - 50%
AUY - 16%
GORO - 16%
NAK - 16%
where AUY/NAK/GORO will constitute the volatile/speculative part and POLY provides a solid base. The trade is coupled with a trade in silver futures. Total holdings of precious metal stocks is ~10% of the portfolio. Total risk exposure is 1%.
Where the analysis can be wrong:
Out of 3 stocks, only AUY demonstrates some degree of confirmation on a weekly chart. However, this may be due to the lagging behaviour of stocks vs. underlying commodity and falling SP500 (I think).
Gold can retrace and silver can make another low. This most probably results in losing >1% of the deposit and I will have to reenter the trade at a later date when confirmation is available.
You know what. I will split entry in stages. Today I am buying futures and AUY. Tomorrow I am adding GORO and NAK if price confirms the direction.
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🌏 energeiacharta.com
⏱️ Timely updates of WTI, Gasoil, NatGas charts explaining every twist
🗃️ Extensive analysis archives
📏 Chartopedia, with examples of applying ElliottWave to real world charts
