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Charts from the Lunatic Fringe.

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gold seems so strong that I doubt we see 1500 unless the Feds see that the markets are too strong. more trillion dollar market caps in tech
 

Zed

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Eric King continues: “Hedging, yes, but not all of it. What do you think? Banks taking the other side of the trade?”

Pierre Lassonde: “Banks would never go naked. They lay-off the risks somewhere else. Commercials can short gold bullion and hedge with stocks. I wouldn’t make too much of it.”

I have always maintained the idea that this is the way they run the show. Despite the naked short story in the gold world there are many ways they can control the risk in gold futures exposure. This is the first time that I have seen a gold pundit say as much.
 
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what are the chances the dollar rallies hard? I always view a stronger econ means stronger dollar. the Chinese and US trade also includes a clause not to manipulate the yuan. interesting times, my paas is at $22 and in good spot.
 

louky

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Fake news pumped it, overshoot to 1611. Fake breakout, buy the dip now if bullish short-medium term. 1548-1557 next probable bounce zone
Stuck 1557 on my kitco tracker now, if this fails (wicks start forming up over time frames) then 1503 is all but guaranteed with lower box visit probable.....you start looking at 1476-1485 in that case. NCN, just sayin'
 

louky

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Weatherman

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Weatherman

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Strawboss

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1578836168446.png

These are the best 9 US traded miners at the moment out of the 32 I track.
 

Strawboss

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These are the dogs of the group...
1578836746309.png
 

Strawboss

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This looks like a pretty good contrarian play...GPL - THE worst performing miner at present. They had an issue with their open pit mine in Brazil - retaining wall breach...and there was concern that they would have to do a share dilution to raise money. However - they have gotten about $21 million from selling future dore bars to Samsung at 5% over 3 month LIBOR rates. A bit expensive - but not crazy expensive. Might take a bit to fix the issue - but they now have the funding with no share dilution...

1578837942243.png
 

savvydon

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This looks like a pretty good contrarian play...GPL - THE worst performing miner at present. They had an issue with their open pit mine in Brazil - retaining wall breach...and there was concern that they would have to do a share dilution to raise money. However - they have gotten about $21 million from selling future dore bars to Samsung at 5% over 3 month LIBOR rates. A bit expensive - but not crazy expensive. Might take a bit to fix the issue - but they now have the funding with no share dilution...

View attachment 151402
This is really the key to making smart choices on individual miners. You have to drill down to find out what is really going on with the company. You either pay someone to do the research for you, or you put in the time to find out yourself. No free lunch.
 

Strawboss

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MUX is also a potentially good contrarian play. Rob McEwan (the guy who built Goldcorp) is the largest shareholder and doesnt take a salary. Not really sure why this stock has done so poorly...very high cash costs...they had to do an equity raise last November which crushed the stock...if gold rallies - the high cost producers benefit the most...

1578839592424.png
 

savvydon

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MUX is also a potentially good contrarian play. Rob McEwan (the guy who built Goldcorp) is the largest shareholder and doesnt take a salary. Not really sure why this stock has done so poorly...very high cash costs...they had to do an equity raise last November which crushed the stock...if gold rallies - the high cost producers benefit the most...

View attachment 151403
That's a helluva gap looking to be filled when the time is ripe...
 

Voodoo

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Nice chart Straw. That looks like one gigantic cup and handle chart. What's the projection breaking out of a cup and handle at 50? The 20s may be a very good decade for silver.
 

savvydon

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This is a timely little piece of cheerleading for me at the moment. Despite knowing where I think we are I find myself lamenting that I haven't bailed on at least some of my miners during this current short term downturn. Fact of the matter is that I believe we are in a precious metals bull market and I know the miners will follow in lockstep, ultimately amplifying the gains of the metals. Just in case I forget in the daily hubbub, this is where I think we are at, using Elliot wave as a scaffolding:

screenshot_108.png


Short term I'm looking for RSI to trend down toward 50ish and will try not to panic if we see a retracement down toward Louky's 1503 pivot area. In fact, I would say a bit of a wash out would feel healthy at the moment. It would help set the stage for a wave ((3)) of wave V, into somewhere in the mid to high 1600s. All just guess work, but as I understand the passage Straw underlined, the name of the game is to carefully come to a logical viewpoint about where you think the market is going, and then have the strength to stick with your convictions. 2c...
 

louky

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loaded ton of GGSM last week in 4's and 5's. News coming....
Added bunch more on and around 12 break
More 16 and 17's yesterday, highest pps in 4 years.....

It acting like revival project news is coming or something???
added a butt load more 21's ggsm yesterday, I guess people didn't study about their revival, their mining claim right in the middle of goldcorp, couer, & sierra, and silver assay samples that blow those 3's out of the water ;)
 
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