If are short AUY, cover quickly and go long, step outta the way, move aside, you do not want to be caught short this stock now. With gold approaching 1000.00 on its way to 2000.00. Silver 19.20 on its way to 25-30 and Copper on its way to 5 dollars lb. AUY is getting ready to bust out. Big money getting ready to move in and take your shares. Take it for what its worth, but i am a pro and i only make my move when i know a stock is ready to make a major move. Remember it does not take a rocket scientist to figure out what Yamana is worth, Capeche'?
Sean: Yes, "real time".. that is the challenge.. I would agree that this stock is a great, "buy and hold" for the long..
Jack: Monthly charts don't cut it for me, no offense.. I trade several times a week on the average, not once a month -- but that is no problem.. each has a trading style of their own and if everyone is making money, then that is what it is about... I'm not married to any stock.
Everyone has different time parameters... some consider "long" one year, two years, three years.. whatever.. others consider it a month/week... and others measure in days or hours.. it's all fun.. and whatever works for the individual over the long run is the correct method for them.
Waiting for the results of the next two days.. should be fun.
"...what I have a problem with is people thinking this will go straight up with no dips or valleys.. that is not the universe I am used to dealing with.."
No problem there, we seem to be on the same page. Much like the drunk bouncing around though, our problem is only whether we can roughly predict those movements or at least get a handle on where the safety rails are.
You've only got to be caught out of the market once during a major upward thrust, or sell out for a loss on a temporary downward dip, to really eat into your total return and compare poorly with a simple buy and hold approach.
Looking back we can all see where we should have bought and sold to maximize returns. The only question is can it be done in real time?
What really interests me is whether God had any choice in the creation of the world.-ALBERT EINSTEIN
Elephants and Hippopotamus have grown clumsy as well as big, and the elk is of necessity less graceful than the gazelle-D'ARCY THOMPSON
Earnings momentum and visibility should continue to propel the market to new highs-E.F. HUTTON, Wall Street Brokerage statement issued on October 19, 1987, moments before the stock market crashed.
Sorry Global, i am going to take the "Herb Greenberg" on this one and keep the sources to myself. You understand i am sure. If i talk too much i suppose i could find myself in a quagmire i would not wish on anyone. In any case, the pavements are lined with gold, it is up to you to see it. Ciao
I think all us gold bugs know something big is imminent. all this exuberance is negative for the short term any way you cut it. 15% up moves don't happen when the crowd is this sure of it, usually
that said I'm long and wish us all luck!!
I always respect the voice of reason and you seem intuitively correct.
I've never been particularly partial to TA but I've tried to keep an open mind since getting into the PM sector. However, simple profit motivation should ensure that any price move potential evident in a chart would be overwhelmed by large flows chasing that signal. So charting should only work if the signal was obscure or evident only to those without sufficient funds to move the price. Seems a stretch.
Still, I hang in there hoping some clever charters will give me a heads up for moving in and out with the short term trading funds portion of my portfolio. So far I can only conclude the price action really does look like a random walk. Even a contrarian 'against the herd' opinion seems to be as likely wrong as right.
Of course it's not entirely random. The price of Yamana is stalking higher with the price of gold much like a drunk walks toward his car. Sometimes a retreat, sometimes an advance, but in the short term at least, unpredictable. Same is true of gold itself.
When I'm flush with funds I find myself hoping Scatchy is right, only to find the price marching in a different direction.
After the event I can imagine I see a pattern, but imagination it is. Perhaps it's just me but I'm less of a convert to TA than when I first got into precious metals.