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Gold Price Action and what it means — 9 Comments

  1. Thanks Spock

    I am in the same boat as this member

    had 50 miners in the go go years..some great but some pump and dump stinkers

    Then all of a sudden..husha husha they all fall down !

    This is a concern of all members here I am sure .

    Thanks for addressing this.

    • we WILL be tested. the right of passage has to be earned!

      having said that, the continuous gold spot futures contract does not have those big gaps. this is one of the issues with the GLD ETF, as gold trades overnight and moves up, so GLD gaps up at the NY open. i would not think all the GLD gaps get filled.

      A lot of other ETFs are like that. For example, EEM, unfilled gaps everywhere.

      • I tend to agree, I don’t put much weight in gaps with ETFs. In fact they are meaningless, however a lot of the stocks have gaps way down there. My guess is they get filled in about 6-7 weeks from now

    • Never owned it. Never will own it, or any companies like that. There are plenty around, that’s why due diligence first is done, before any of them get a foot in my door. I have seen every scam in the game. Rubicon was a good example. I saw that one coming months before they caved in.

  2. Spock, your statement from above “The focus is on the gold and silver mining sector, where extreme value propositions are now being identified, after a five year grinding bear market in the sector.” Also from above “In short, by following the Spock Miners Matrix you will be invested in only the crème de la crème of PM Miners.”

    Excellent, and this is what I expected when I signed on. Thanks

  3. The internal fear factor for individuals works at both extremes, nearing the bottom of the market and also nearing the top.
    Being scared of dipping one’s toes in initially because maybe its not the bottom?
    Being scared of selling and missing out on further gains towards the top.
    But building core positions in solid companies and being prepared to hedge to the downside if necessary should see little or no risk to your speculation on miners.
    This may/or may not be the final bottom in the actual gold price, but it already has been for many miners imo (ie. My ASX.MLX average in price is A$ 0.2369, my last purchase was 1st week May 2014 at A$ 0.205). I very much doubt they will retreat to that. Its currently at A$ 1.065.
    Personally, its not downside risk I’m worried about, for me its getting out near the top & taking the profits that will come.
    Hope I’m smart enough to pull the pin when the time arrives? Lol, only time will tell !

    • Lol, the Wife read my post and promptly reminded me of the 1:4 stock change in MLX that I had forgotten about? So forget the above.
      She kept harping on about how forgetfull I am at times, only then did it click its also Valentine’s Day here tomorrow.
      Anyway,instead of being away with the boys this weekend (fell sick) I’m off to the shop’s instead.

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