I am actually sensing that Gold wants to resume the decline. This morning I bought back my DUST for a small gain. Oil market looks weak also - Oil tends to push Gold down during liquidations. Only action I saw yesterday was mostly short covering. Not seeing much speculative long activity either. I was expecting a bigger bounce off of the 1228 gold low. We should have seen $1265 today. The lack of follow through is worrisome for gold prices.
I like what I have seen with the Nov insider purchases ( although would like larger $$ amts) but its a change in the right direction I haven't seen in many years and I do like the Coeur Capital Idea. I am hoping we have seen the bottom in Silver Prices and CDE.
they wanted a name that didn't make one wonder if they fly by night...I guess...
but, someone else also had a global reach?...
BIG has certainly downsized over the course of a couple years, eh?
NUGT appears to have almost 'washout' downside volume: bullish for at least a bounce, or a surprise actual reversal?
As for Venezuela...the US is becoming the 'new' Venezuela...or the 'new' Detroit...with current policies. JUST my opinion.
Long quite a few miners now and will observe moneyflow, news, etc.
Also see GATA and zerohedge for news for different or perhaps greater perspective.
Peace Perspective Patience Perseverance
Prayers for Our Nation and Our World
Previous bullish candle was not confirmed.
Now holding additional shares (added in 10's) of CDE and have bought a number of other miners, including a new 'add' yesterday (also, after purchase showed candle with bullish engulfing). Some major and some junior miners have bullish candles. Need confirmation. Probabilities will have at least some upmove, imo.
Only an opinion. Last attempted trade' to CDE was sold at about breakeven to re-evaluate...so rebought additional shares as posted. Previous trade was in low 11's and CDE rose to 16's...tho I sold too soon. Was correct to sell, however, since the move was not clear.
If gold & silver CLEARLY reverse to upside, some miners will definitely be long term holds, including possibly CDE...at least 'core' shares. When a sector is in an upmove, my 'additonal shares' may also become 'core' shares...IF there are sufficient reasons from a fundamental and technical perspective.
CDE has been in an overall downtrend since November, 2012, after touching 31.97. Some miners have already moved up to SOME extent and have held gains. IF CDE becomes an authentic turnaround...there may be higher gains here overall IF/WHEN silver makes significant upside moves. jmo
As suspected, the gold swap conducted by Venezuela was big - 1.4 million ounces. Goldman undoubtedly was also selling gold futures or options to protect the trade so it has a good impact on the market (do not believe the PR line below on this). Also, do not think Venezuela is done now - they reportedly had 360 tons of Gold at the end of last year! The amount involved in this gold swap was 1.4 million ounces or $1.82 billion!
On Wednesday, markets were surprised following reports that the Venezuelan government entered into a gold swap agreement with Goldman Sachs. Under the potential agreement the government would put up 1.4 million ounces of gold to secure a loan worth 90% of the value of the yellow metal. Analysts at CPM Group say the swap agreement shouldn’t impact markets, but the deal was interesting because of how much gold is involved in the transaction. The research firm says the terms of the agreement “is a sign of desperation on the part of the government and a stunning reversal of ‘triumphant’ repatriation of its gold it staged in 2011 and early 2012.” The analysts add “the Venezuelan government has systematically destroyed the economy with wrong-headed policies.” CPM group points out that inflation is running around 48% - 50% and the country’s economic growth has almost been halted, bouncing around 0.5% - 2.6%, down from around 10% per annum growth rates prior to 2007.
global receives superior offer-Blackhawk receives 250,00 and recovers 1,650,000 loan yo global and interest accrued---interesting aside that isn't in news release
PZG had a 5%+ upmove on good news:
Resumes core drilling at its 100%-owned San Miguel project.
See website or Yahoo summary page link to news or 'update' via Yahoo this morning.
Profit for Good Causes
or could be reversal.
SPY & DIA are very overbought (tho they may go higher), so some may be taking profits and lookin' fer oversold and undervalued miners. QQQ's and AAPL still look good to me very near term. FAS also near term overbought. The indices are relevant to me because it MAY mean money is becoming available to go long miners (big money, funds/hedge funds/institutions). I suspect many have already been scaling in or even loading up at these level for miners.
Volatility indices also extremely oversold...tho I prefer to own the miners IF they are on the cusp on an upmove.
I trade the indices for the sake of my family, but my preference is finding extremely oversold and undervalued potential turnarounds...or better yet 'gems-in-the-rough' in any sector/industry/country...and holding a core VERY, VERY long term, with some trading when if/when indicated to protect gains.
Only my opinion. Think independently, but find actual FACTS, not the blather from message boards or even many so-called analysts....Go deeper in research and in evaluation of all aspects, including moneyflow and various timeframes for charting.
Peace Strategies Agape~
But they are sort of right about the "manipulation"-------anyone with any intelligence has been'
yeah nsxt, I agree. But, I wasn't gonna let Gazzbag come on board after all these yrs. and claim that he lost tons of money because this stock and related sectors are heavily manipulated. OF COURSE THEY ARE!
And this consideration HAS to be acknowledged and accepted while allocating capital herein. Plain and simple, Stahlz is a pig - headed Dutchman who pumped for yrs., slandered all that went against his narrative of Coeur and its management and hung on too long to a losing position. He deserved to loose big not because of who he is but because remained committed to a losing narrative and trade.
Speaking of losers, ol' Knuckle-Ed supposedly ran a fabled $5.60 trade up to a 5-6 bagger and rode it all the way down to less than two. His narrative is and has been for years wrong too. That's why he lost out. Oh, and spare me the chin music, Ed, about how you bot puts.
Regarding Coeur and gold/silver, if you think we're within 20% of a bottom then start moving in.
Appreciate your analysis...My current expectation is some bounce for precious metals miners...and will continue to evaluate.
Some precious metals stocks now green at these extremely oversold levels.
My opinion is CDE will follow. -.03 at the moment.
Would not be surprised to see gap up for some miners, perhaps Monday. JUST my opinion.
NOT a rec. Look under the surface and ignore thenoise...watch moneyflow and other technical indicators/moving averages,etc....while not failing to examine all other fundamental factors.
Do 'comparison shopping' among miners.
AM prepared to sell all but my tiny 'core' of miners IF there is a clear reversal to DOWN for BOTH gold/silver AND miners.
Profit for Good Causes
It looks like there should be a bounce up due, but there has hardly been a rally in three weeks. I took advantage of the dip this morning to sell most of my DUST (3x inverse Miner ETF) for a sizable profit, but I will still keep a small amount in case we see a collapse. I, however, do not see any appreciable long term rally coming. I just expect a small short covering rally to $1265 area. Right now, any bump up in gold will find new sellers.
We appear to be in a similar situation as the Natural Gas suppliers were in 2007-2008. There is still just too much production out there, and with GLD seeing outflows every week demand is weaker too. Miners have actually increased production to make up for revenue shortfalls at a time that demand is lessening. Its a classic oversupply/lack of demand situation. Most experienced traders will be selling gold on any rally that takes it near the 10 day moving average of $1289 (as of today) but that number will be falling each day. Odds are that the price catches up with the 10 day MA around $1270.
The gold and silver supply situation is fairly stable right now, so only a change in demand will break the current trend. With the Iran thing off the table now, its hard to see what will cause a change in demand. That means we will see periodic short covering rallies followed by a reversions to the downward trend. Anyone who played NatGas in 2007-2008 can tell you (as someone who lives in the Oil patch I was playing NG), you can be destroyed if you fight a trend like this.
Now there is some good news here. Once NG bottomed in 2008, most of the NG stocks did experienced good gains (some over 100% in 6 months), but nothing mattered until NG bottomed. Book values, cash flow, earning all meant nothing until the commodity bottomed. In short, company fundamentals and earnings will mean nothing until Gold and Silver bottoms out.
el gallo 2 eis permit granted this expansion to bring el gallio from 37,000 in 2014 to 75,000 2015--3.5 %for first 275.000 then 1% for life,potential to 105.000oz--go mcwen
Perform a search. Don't trust the lamestream media to tell you all the facts, or even most of the facts. (Gata, zerohedge, etc.)
Will gold and silver turn back to upside IMMEDIATELY? I'm certain China has been accumulating gold for some time...but now even Reuters carried some actual factual info (apparently).
There may still be a final shakeout to the downside. I'm 'banking' on a near term bounce, however, and will continue to evaluate.
CNBC just mentioned that some of the miners may have to reduce their dividend.
CDE may one day be PAYING a dividend, and when it does, I hope to be holdiing many more shares.
Not a rec to buy, sell of hold anything...only to do thorough research...looking deep under the surface...and also to include technical analysis of part of DD.
a swing from potential sale during summer for 67mill to 23mill purchase- but only spent a little cash to get two streams and another experienced manager-now we have 4 streams and adding to percentage with options to buy for 6 mill---15 net for severa years-krebbs adding corporate toys to his Chicago move- el gallo mine from mcwen mining now that's cool-
Thanks for the analyst comments, SirTheYogue2.
Miners that have weathered the smackdown well may be among those with the greatest near term upmoves...unless they are already holding some gains.
For CDE, I'm personally thinking of the price per shares AS SILVER REVERSES AND HOLDS UPSIDE GAINS. Investors buy with a 6 to 9 month outlook, in many cases.
In the case of 'blood in the streets' crushing of an industry...as happened, for example, in the solar stocks/industry in recent years, one may consider buying some shares at an oversold point.
FSLR SPWR SCTY were among the solar leaders, but TSL YGE even JASO and many others had excellent move...even IF one had begun to accumulate on the way down...even without the bounce trading I attempt to engage in for some long positions.
The fall in oil prices is beneficial to miners...since they need energy to mine and for all their activities.
Again, congrats on your nat gas profits !!! We miss you here ... your posts, that is ... us 'old timers' do !!!
Peace Congratulations Agape !!!
When Will This Silver Miner Stop Losing Money?
By Vladimir Zernov | More Articles
November 25, 2013 | Comments (0)
Falling silver prices continue to put pressure on silver miners. This is particularly true for those miners who were already unable to operate profitably at higher prices, like Coeur d'Alene Mines (NYSE: CDE ) . The company finished the third quarter with an adjusted $23.4 million loss, while the average realized silver price was $21.06. As silver prices drift under the $20 mark, things don't get easier for Coeur d'Alene.
No confirmation yet, but I'm holding my latest add to CDE.
It's a tiiny amount (thus far) added to the tiny amount that is currently my 'core.' Additional shares may become 'core' long term holdings IF/WHEN we have confirmation of tunaround in gold/silverCDE.
Elltiott Wave suggests (some say) another wave down for gold, so I'm ready to sell IF it appearss that evaluation is correct.
In any case, miners are undersold and undervalued, for the most part, imo, including CDE.
If gold experiences another smackdown, I believe it will be bought up.
CNBC had a segment on China buying diamonds, Picasso, US real estate. huge buying...while others need to sell at huge losses...
Predictable. Was part of the 'plan,' sadly. No mention of their gold buying...see zerohedge, GATA and other sites to try to git a handle on tlheir actyivites re gold/silver.
Meanwhile, DUST (3x bear ETF.... for shorting gold miners) is becoming overbought. MIGHT be at least a near term pullback.
NUGT (ETF for 3x bull moves on gold miners) is becoming oversold, with low RSI.
Wycoff (at Kitco) declares bear have solid near term advantage for gold futures (see his charts...also see other guru folk comments).
Still consider CDE a potential turnaround in the mining sector, and believe that ... once gold and silver reverse ... there will be a nice upmove here.
My overweight pick in miners is not (yet) CDE, but I may overweight at some point. I'm referring to holding AMONG the miners...mostly rebought within the last few days, or today. My overall overweights are not (yet) in gold and silver miners. I do not see sufficient confirmation that a definitive turnaound in gold and silver is imminent...tho as I mentioned in previous posts. It's possible some of the miners have bottomed. See the 80% move in one precious metals miner yesterday. (My overwieghts have been in specific biotechs, nat gas and uranium miners or ETFs).
Profit for Good Causes