This marketl if rigged. There is no such thing as an ethical stock market. Share prices are rigged for every stock listed. Patterns and graphs are faked. You never know what is happening because there is a stock market mafia that is extremely rich and can manipulate at will to steal your money. Fundamentals do count eventually, but, eventually can be a long, long, time. Study fundamentals because they are the only thing that is really believable.
Agree with your overall outlook.
Will we have the fortitude to withstand additional frustration? I'm beginning to think this is much bigger than "supply and demand" alone. Anything can happen price-wise.
They can make us wait till we think the world is passing us by, or more likely convince us the bull is dead.
Despite the horribly rough ride thus far, I have a feeling there will be additional major attempts to test our resolve. THis is not going to be easy and as we've seen, its not necessarily going to make sense to us. I see scenarios that bring gold down to $1450, and below. BUT I certainly wouldn't get out to wait for something that might NOT happen.
I guarantee if there is a sickening fall, AND we exit, we'll miss a major part of the move on a morning gap up and not get in because we'll expect "the pull back" that doesn't happen till $300 later.
IMO~ keep a core, trade the pops and remember the fundamentals ultimately rule.
Well, yes and no.. I'm losing money right now on paper with this stock, but I've done well trading this stock. I won't sell it until I'm making some kind of profit. It may take a while, but I know at some point this year GDXJ will be in the thirties again.
The is around its two year low. If it goes below that then yes, you are correct in selling. Once it passes through that line then the bottom of the ocean is the limit for this ETF. If it DOES break that low, then count me out. Until then though, we are just getting some turbulence. Looking at the chart alone you could have seen this dip coming. I'd hold tight. Especially if you got in around the 23rd.
Just wrote a huge message but it never showed up!! Basically -- 1) entering bad seasonals for gold stocks. 2) gold stock underperformance during good season of winter and spring
However, I always freak out and sell at market bottoms.
I only sold 1/3 of position. Would like to hedge with DUST -- but its gone parabolic and that never ends well.
Wrong! They can only hold the price of gold down for so long. I've seen this play out many, many times over the last 10 years.
I just laugh it off because physical demand will always win out over time. The futures paper trade will blow up on them eventually!