Exited all three Ag and Au positions today. [AG] had a high of 20.74 [before market open].
This position was closed at 18.42. Regarding the MUX miner, which peaked at 1.17, gaining 27
cents, we exited at 1.10, closing the position with a 5% draw down. It was virtually a loser day one
of purchase.
This rally today all occurred because of the now closed WallStreetBets on Reddit. The metal market
will not follow the lead of GME or other massive gainers. So those whom wished to close their metal
position[s] should do so now or tomorrow.
Gold, to remain in a holding pattern until later this August. I have placed MUX into the Hall of Shame.
All the best to metal investors and traders.
ghengiskahnspermshot
⋅
@blueicetwice, OMG you literally sold the start of the rally lol, I"m crying, AG just broke a downtrend from 2011 and others have too, is there a way to follow you on Twitter or something?
blueicetwice
⋅
@ghengiskahnspermshot, You forgot to label the "so called breakout" WallStreetBets from Redditstan.
AG. is an interesting company and as such, I plan to recolonize the position, after the much needed
market drawdown.
Spermshot, your chart is fabulous and I am in need of a skipper for my yacht, so consider yourself the
new and improved Pilot Emeritus.
ghengiskahnspermshot
⋅
@blueicetwice, Pilot Emeritus lol. Well people like to attribute moves to news or WSB, or Reddit but really Technical Analysis will tell you these moves in advance. AG for example broke a downtrend from 2011 so of course it will gain serious steam. The only thing Wallstreetbets does is push the short squeeze higher than it's already going.
blueicetwice
⋅
@ghengiskahnspermshot, "Technical Analysis will tell you these moves in advance." Coin-cidental.
Even fundamentals can badly lead investors a stray. Sentiment and emotions has a very serious impact
on market trading patterns even among the professional class.
How do these miners track with technical analysis, when the industry begins to experience ever
rising energy costs, something that is not insignificant.
AG, is to far above it's 200 DMA and will sharply correct, whereas, MUX is not.
There is always technical dialysis. :<)
ghengiskahnspermshot
⋅
@blueicetwice, You're such an emotional trader lol, this is a normal pullback after a breakout, but go ahead trying to guess at fundamentals, I'll stick to the TA which has worked extremely well for me but good luck to you man.
blueicetwice
⋅
From the brain trust of TSI-blog:
"the following weekly chart by the Barrons Gold Mining Index prior to 1995 and the HUI thereafter, has been in a downward trend relative to gold bullion since 1968. That’s right — gold mining stocks, as a group, have been trending downwards relative to gold for more than 50 years!"
In other words, miners [Au] are simply trade objectives and not long-term investments.
ghengiskahnspermshot
⋅
@blueicetwice, I'm seeing miners break out of downtrends from 2008, the tide is turning. Learn to trade or learn to follow good blogs or traders, let's comeback to this in a year please.
This position was closed at 18.42. Regarding the MUX miner, which peaked at 1.17, gaining 27
cents, we exited at 1.10, closing the position with a 5% draw down. It was virtually a loser day one
of purchase.
This rally today all occurred because of the now closed WallStreetBets on Reddit. The metal market
will not follow the lead of GME or other massive gainers. So those whom wished to close their metal
position[s] should do so now or tomorrow.
Gold, to remain in a holding pattern until later this August. I have placed MUX into the Hall of Shame.
All the best to metal investors and traders.