$1400 is NOT priced in.
I'm doing this a loooong time.
I cannot post chart as they don't let us anymore, but do this;
Overlay the GLD chart onto the HUI chart.
Then overlay the GLD chart over the GDX chart.
Use dates back to 2001.
Then zoom in and look at 2010-2013.
Believe it or not, HUI, which represents the miners, is actually still CHEAP compared to GLD.
Miners "looks" oversold, and days like today they get a dip, but they are WAY too cheap and not ahead of themselves.
Hope you profited.
We should be getting up to what I called.
Based on last week's COT report--I know the commercials shorted, and now shorts are covering.
Getting interesting QUICKLY!
Be prepared for what'scoming after that.
To the obvious shorts and newbies, good luck with that!
Brexit "scare"? Ha.
You ain't seen nothin yet!
The black swan has landed, and she is laying her eggs.
Over the next year they all hatch and new black swans will appear.
at 6.96 this afternoon.
I have a shot?
Yur kidding right?
The Queen herself will.
Kidding aside, GB would not let it happen, and beyond that, the FED would not let it happen.
There'll be no more Lehman moments.
it bounces or gets bailed out. Question is, at what price?
Did we hit it yet, or $5, or lower?
My feel is, we are NEAR that tipping point, unless someone in their trading dept messed up big time.
$6.90 is VERY VERY attractive.
Wish I could post the charts I am referring to. First look at the (to me) pretty obvious reverse H+S on the 1 year. Then zoom out. Then just because I know yur in it, take a look at EXK and what's about to happen, with the trend line preserved and channel we are about to break out too.
As a U.S. citizen I have zero impact on the Brexit decision,but, I do have an opinion.
When the likes of our community organizer in chief of Government control puts so much pressure on the brits, it kinds tells me who Remexit and Brexit each benefit.
When George Soros says gets front page to express how bad Brexit will be for finances, it kinda tells me who needs them to remain in the EU.
If YOU were a British citizen, WHY in the world would you want your own sovereignty left to a "Union" of countries who cannot manage their own affairs,let alone "yours"?
Those countries who will govern your immigration rules.
Your monetary policy.
Even your security!
What this is coming down to is, how many people will come out to vote who are in 2 categories;
The "takers" will vote to stay.
And, the people who are fearful of what the aforementioned have put into their minds.
Fear can drive a campaign, and that's how O'Bama won 4 years ago, and that's why the Brits will stay and not exit.
And,like us, they will pay a steep price and this topic will be -re-visited a few years from now, except then, the takers will outnumber the givers even more.
Hate to say it, but game over.
We all lose.
But, the bailouts will intensify,and money? Start stacking if you haven't already!
It was actually a typo. $97.50.
For some reason, even with AU up these past 2 days, they hit the miners both days after the early rise.
IF AU continues and I believe it should actually get to $1330 or so on this run, miners should catch up again.
The Brits would be #$%$ to actually vote for Brexit, but anything is possible these days, and The Federalis would be #$%$ to raise I rates with any possibility of Brexit.
ANyway, I'm expecting a $10 pop in NUGT Thursday.
IMHO, MUX next stop $4.68 resistance, on it's way to over $9.
During this run, AG is going up to mini resistance $17.45-passing $18.10 on it's way to $25.30
Good morning Dave,
Looks like some of us caught the right spot. This move we are in could turn out to be huge. Several indicators showing $25.30 for silver next. Might not stop too long at $18 and just blow through. What that means for SLW and miners? Wow......
Silver has a reverse H&S and the brief range bound $16.30 ish we are in is about to move to the upside.
$25.30 ish is the target. It will NOT stop at $18.00 for long.
As this plays out, we will also see all the other miners in their harmonic moves.
EXK is going to make a major move with it.
GDX is another one that needs to confirm this next move for gold and miners.
If GDX moves over $26.75 (and it will),IMO, we are on the way to $39.75 ish.
Tick, tick, tick.......
Couldn't get to post. Entered new long positions. Looks like we bottomed. Should be good for another 2-3 weeks. Then, there's another dip coming before a very extended long move up GL