every time there is some news from the central banks they buy silver and gold and short the miners. I do not know but we might go side ways till September meetings for both ECB and the the Fed. But AUMN looks so ready to jump. At this price what are the downside risks? I think very little.
It seems that silver and gold are about to break out as the stimulus pours in. silver has not closed above 50DMA for past 6 months. It will confirm if we go up tomorrow and do not fall straight back.
AUMN will follow if silver breakout is confirmed.
listen you can post and it is your right to do so but please offer an argument and do not just write the same things over and over again.
The problem with a message board is that anybody with any intention can post and still look as an investor. You might be a lonely guy who just want to chat or get reaction from people or you might be a legit investor, who knows.
I know I have not heard anything constructive from you! you are posting everyday to buy in November!
I hope everybody is loaded because we are going to be up from here. it is setting up for another run to around $7.50 before the option expiration.
It seems that a short pull back will not go below $5. There is support there. Once this breaks for another leg up then it will easily go through 50DMA and will have a long candle to 200DMA around $7.5 area so accumulate at $5. I think tomorrow I will get the chance to buy back. I am hoping that it overshoots to the downside but does not look as it want to do it.
do not listen to shorts. This stock still has a lot of juice left in it.
I do not know about the market. This is the election year and market should be going up before the election. I sold the position I opened at $3s but kept my core so what ever happens I am happy with the profit. I personally think it is overbought at this point and should retreat before another leg up.
you might be right and it might go to $1 by November then I will buy a whole lot more. But imagine how many people trapped shorting at $3 when expecting this to go to $1. They have to buy the first chance they get or margin call wipes them out which puts a floor on the pull back.
So I expect 2-3 days of pull back then another leg up. small cap with a high short interest will keep the price up for a while.
$5.71, 50 day SMA is huge resistance and although I think 3rd time is charm and this time it will go through it and reach 200 day SMA but it has gone too far for now and should pull back. I will reenter in couple of days. hopefully it will give me a good opportunity.
I still keep a core position and trade around it.
Usually follows the sector but not today. technically speaking, once GDXJ crosses $21.50 then it has broken out off bear channel. AUMN then will go all the way back to 50 DMA.
I still think that we will have another worldwide stimulus and that is good for stocks specially small cap miners.
gold and silver have reversed course. miners usually bottom way before the market. With Italy and Spain in trouble, Europe and Fed should act. I had hopped China to act and stimulate their economy but they are enjoying this commodity deflation too much and accumulate first before further easing. AUMN has held up pretty well and should go up from here.
The real stock market correction will come after the election.
Gold has not broken its support and I do not think it will breakdown for now. both SLV and GLD have been pushed against support and bounced. Daily charts are more significant and we should know shortly if this is the bottom. It looks like it.
both gold and silver are very oversold plus everybody is short commodities. That usually means a rally is coming.
Of course all bets are off if Europe does something stupid but I doubt that.
I think the sentiment is very bearish so it is the best time to buy. AUMN both had huge volume , 6 times average and closed outside of bollinger bands. The new close inside the bands with lower volume and ascend from there, will confirm bottom.
commodities have been getting killed because of Euro. All are oversold but Euro should go up from here and make a double bottom as well.
the most important thing is the stimulus that will be coming from China and the Feds and Euro.
I hope so, I am an investor in this stock too but market has had an incredible run and this is the time to squeeze the shorts. If they wait longer it might not have a desirable effect on the PPS regardless of the results.
In the long run, China going to start easing and Europe has not even started to print money yet so gold and silver are good place to be.