No. The probability gold continues the recent trend higher is better than 50%. That gives the edge needed to sit and wait.... The world Econ gives us another edge. This means this trend could well continue for awhile. It's what everyone dreamed of when Mux was at .70.
Exposing, Obviously you got hurt with Rby. But, calling McEwen a con on this board is misdirected anger. It might be that Rob McEwen got conned right along with you, but his timing was a bit better than yours. I don't know, but neither do you nor could you. I just don't think "con man" goes along with somebody who has set up a medical research facility and works to make mines sensitive to environmental concerns, or spends his own money buying shares to keep Mux from being delisted etc etc etc.... I mean have you ever listened to his interviews? Again, maybe you're right... But, really, why are you on this mb? Just somebody trying to save us from the likes of a company who's stock is 5 times what it was 7 months ago.
As you said, who knows for sure. Bullish gold mono seems intact. We have waited a long time for gold to become the bullish force behind the miners, why overthink it? Just take the nice ride on MUX to wherever this gold bull runs. It's just getting going. I find some comfort in being of like mind to people like Soros or Paulson or Faber or Schiff -- I know they're not thinking of selling their gold positions. They find the trend and stay with it. I mean I am shocked at the rise of MUX from the ashes of near delisting which was only 7 months ago. I'm just saying, selling for pennies is foolish.g
I agree 98. This is not a stock nor historical time to trade in and out. There have been quite a few that said they got out as Mux continued to rise along with gold. It's gambling, nothing else. When they lose the bet you don't hear a word. They disappear. Long term means you have to hold on and the payoff is 10% less capital gains. Trade in and out like Vegas craps and eventually you will lose the cocky fake edge and pay at the top 35% capital gains-- for a bad habit that probably will eventually break you. Gold is not a commodity that gets overbought because it's not just a commodity, it's used as a safe haven currency and in crazy times like these you can throw out the charts and all their theories because we have literally never been here before-- in a world flooded with newly printed money (enough to give every man woman and child on the planet a big fat check. Just try dividing the 20 trillion by 7 billion plus/ minus) and, zero -- negative interest etc etc etc....well, you get my point. Gold has been used as a store of value, and a go to in panic currency, for 5000 years. So, overbought? Under what conditions? Mux overbought? Compared to what? AMZ? Or TSLA maybe. These are unique times. And how does gold act in times of crazy economic uncertainty? Not too hard to find the answer. Just look at the historical chart.g
Good answer. MUX is a gold play, period. Gold is awake again and trending bullish.... It's tough in today's world to argue with that trend. But, still, it's a gamble. It's a gamble I'm taking with Mux.g
Rx, After listening to Rob McEwen a number of times when he's talking acquisitions and exploration etc... I get the impression he is extremely patient and always thinking long term when considering these devices. I find this very reassuring. You can bet that whatever comes via acquisitions it'll be solid and not a splash in the pan. McEwen is an exceptional CEO, the health of Mux his prime concern. I don't have to tell you this. So, we are in good hands.
Agree, rx...wow, is right. Gold is beginning to feel like it's on it's way back to all time highs. Mux, with its CEO gambling with shareholders, may well see all time highs too. If you are betting on the gold story you cannot get better than this. Thanks, always enjoy your POV.g
Drfish, agree with you. This is a long term play and I am betting it'll go much higher, but as you say, too much here. I think the shorts are getting out and that that explains the terrific volume and upward momo. I'm really thinking a year or two before you want to sell. Buying, anytime is fine as long as you do not need the money. Do not buy thinking it can't drop back to $2 or less.g
I keep seeing people saying MUX is overbought. Well, not if gold continues upward. Mux will be very very overbought when it hits 10 and gold sails through 2000... And in a world of funny money I expect to see both.g