I say 1,000,000 preorders and production will ramp up quick. Just imagine when other automakers join into to catch up. Almost all cars in production 4 years out will have some sort of plug and go 50 miles minimum on a charge.
What does all of this do to oil? We are witnessing a revolution. 100 years ago it happened that cars displaced horse and buggy. Now it is happening again.
I think in 100 years people will use flying cars.
Contango is huge 11%. This means it is costing 22% on a monthly basis to roll over the futures to the next month.
Oil slide might be limited as the US production drops off the cliff. Sandridge and couple of others are already announcing bankruptcy filings. So watch those oil futures on Wednesday.
retrace. I wouldn't exclude $45 out of the equation. Gold will likely hit 1180 in the next few days.
Get out please.
M developing on the weekly Gold Chart.
Just waiting for the piercing of the pennant to the downside and you'll see a flood of sellers come in. 1218 support will fail and you'll see 1180-1190 in a flash.
Who knows if that will hold and you are about to see a very large reversal. NUGT gets punished 3x as bad and decays on the down moves. So I'm looking at $45 or lower pretty quickly.
Happens every Friday on weekly opex.
Stronger USD also hammers Gold.
Don't really like it that much. Sucks to lose $3.5K in 1 day, but I'm sticking to my call.
FED is getting ready to raise rates again.
Back test to see what happens immediately after.
overnight, Gold could drop 10%. GDX typically moves x3, so 33% drop from $22.40 to $16 for GDX is not out of the equation.
Just imagine this fund going to $0 because it could happen. DUST would double from $2 to $4.
of the depreciating assets.
This one is still in trouble. They can sell all gold mines and they would be shy by billions to cover the debt load. You are paying quite a bit for this company if value on DCF basis.
It typically decays after the drop. That is why both bull and bear ETF funds end up losing 99% of the value. So expect that this time won't be any different. It may reach $200, but on the way down it will decay to $5 and then it is a tough road back.
Will get pretty crazy. RSI of 80 on GDX won't last and all of these overlevered companies are at the highs despite the fact they are so in debt and have been depleting their mines of high grade ore to lower the cost per ton. Now they are left with low grade ore hoping for higher prices.
This means Gold will once again be sold off.
Tradition of buying gold is heavy only in poor Asian countries like India and China. And of course rap stars for displaying their grills.
Pretty unbelievable how they hate gold so much.
This means the ride is over and FED is actively looking to take down gold. So very quickly we could go from ultra-bullish to being afraid. Question is how much decay will NUGT display on the way down.
They took out shorts, now they'll take out longs.