It means it should hold the 1830 area or it’s back to the drawing board for gold too. But I see gold differently, as a long-term value. As for speculations like PHYS/GLD, the SMA 200 area (1830 +/-) needs to hold.
Gary May 12, 2022
Making clear that by 1830 ‘area’ I mean with +/- to a higher low that can extend down to 1790. But that makes it less comfortable for price players. Value ‘physical’ players should rest easy.
Bart May 12, 2022
One of your best posts, Gary. There is an order even in chaos.
Some perspective…. In March 2020, pm stocks fell 41% within a month or so; they have now fallen 27% thus far. In March 2020, the SPX fell 36% from its ATH back then, while we have lost currently almost 20% from the January 2022 ATH. Obviously, in March 2020 we entered an easing cycle, while now we’ve started the tightening cycle.
Apple May 13, 2022
Silver miners have gotten crushed. Ag is down close 50% in a few months. When do they become a screaming buy?
Gary May 13, 2022
I am not interested in silver or silver miners because I am not a true believer in silver. So the question probably needs to be answered by a silver bull of some kind. But if I were to pretend to be a silver bull I’d be looking for a washed out CoT and deeply oversold technicals.
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What does that mean for gold?
It means it should hold the 1830 area or it’s back to the drawing board for gold too. But I see gold differently, as a long-term value. As for speculations like PHYS/GLD, the SMA 200 area (1830 +/-) needs to hold.
Making clear that by 1830 ‘area’ I mean with +/- to a higher low that can extend down to 1790. But that makes it less comfortable for price players. Value ‘physical’ players should rest easy.
One of your best posts, Gary. There is an order even in chaos.
Some perspective…. In March 2020, pm stocks fell 41% within a month or so; they have now fallen 27% thus far. In March 2020, the SPX fell 36% from its ATH back then, while we have lost currently almost 20% from the January 2022 ATH. Obviously, in March 2020 we entered an easing cycle, while now we’ve started the tightening cycle.
Silver miners have gotten crushed. Ag is down close 50% in a few months. When do they become a screaming buy?
I am not interested in silver or silver miners because I am not a true believer in silver. So the question probably needs to be answered by a silver bull of some kind. But if I were to pretend to be a silver bull I’d be looking for a washed out CoT and deeply oversold technicals.