First Majestic still remains one of my top picks for a true silver bull market which i believe we are in now. Not my top pick, but a close 3rd from the top. So i am overweight in this one for sure. This is the weekly perspective, the monthly is even more bullish showing a giant ascending triangle. I keep adding on any pullback.
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added a bunch more this morning at the depths of despair... thanks for the discount !
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This is the best place opportunity we have had to buy first majestic cheap in along long time... you can be sure, they DONT want you to own this and will try to stop you out... great time to add more here.
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nice ! we crossed back above 50% FIB... next resistance is 11.50 FIB
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That last Z wave down was the ultimate in manipulative fakeouts !
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My "catch a falling knife" strategy has worked a treat !... every big bar down i doubled my purchase... right now in huge profit, not buying as long as its going up... if we get a big selloff ill buy more.
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Fortunes are not made following the herd. In fact fortunes ARE made betting on stuff as universally hated as this stock and the commodity SILVER. Here's an example... the BTC community has a had a hard on for gold (and silver) for a while now... you can watch how michael saylor speaks of gold with disgust in his voice... he seethes hatred for the yellow metal... why ? Well number one because had he bought gold instead of BTC he wouldnt have looked like such a giant doofus losing a billion dollars and would probably still be CEO of microstrategy. Secondly , that debate he had with Frank Guistra right at the exact bottom of gold against BTC would not be forever cemented into internet history making him look like the absolute worst investor that ever lived ! There's blood in the streets boys, the time is now to buy gold, and especially silver.
Based on the chart…notice bottoms have the giant wick below the trend line. Assuming this will happen in the next month or so….then hopefully followed by a 10-12 month run to all time highs ….maybe Fall 2023??? Just my thoughts. I hope this is the bottom but the cabal are filthy criminals with their suppression and manipulation for decades.
etfsandstuff
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@RocketFuel20, think about this... from my estimation about 90% of metals stocks are going down now... ive watched this number increase week by week for a long time already... it takes a while for more and more names to join the down trend (correction which i believe this is) ...my point is this number is extreme now and i feel this has exhausted itself already , everyone that wanted to sell has already sold. It can only go up from here.
etfsandstuff
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@RocketFuel20, boom ! up on negative earnings... somebody knows a deal when they see it.
etfsandstuff
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@RocketFuel20, My catching a falling knife strategy of buying every selloff just kicked into a decent profit today. The key to this working is you need to increase your purchase size on every big bar down... most do the opposite... in other words... buy FEAR... Diamond hands.
CrashBandicoot99
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@etfsandstuff, hopefully it moons from here, and the bottom is in- but I am prepared for another leg down.
etfsandstuff
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@RocketFuel20, another leg down i really dont care man ... silver is going to blow everyones mind eventually as it will be the "new crypto" because of the ginormous gains... the key is to be in early and cheap... something crypto hodlers nowadays dont get... when i bought BTC at 20 bucks and nobody was interested... that was cheap! it's not cheap now... if it gets under 1000 i may be interested again... for reference, robert kiyosaki who is a lot more bullish on BTC that i am recently said the same thing... <1000 might be interesting. Definitely should be way less than the gold price since gold is actually real and has some industrial purpose, there is NO WAY BTC should be worth more than gold... not in a sane world anyway.
CrashBandicoot99
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Where is the bottom??
etfsandstuff
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@RocketFuel20, my guess is ... you're looking at it .... 5 waves down to 50% RET... primo buy spot.
CrashBandicoot99
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@etfsandstuff, if it goes down another 30%-50% from here….can’t imagine how many years it will take to recover. 2023-2026 is the silver run…I think. Hopefully comes sooner.
etfsandstuff
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@RocketFuel20, have you checked the actual charts of silver and gold in other currencies than the USD ?? This stuff is in a massive bull market and these shares are on sale bigtime... You should not only own shares... if you are smart you own more physical than shares.