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Action has been substantial over the past several weeks. Pick your poison, but I still like playing the junior silver miners for several reasons: 1. the G/S ration is overbalanced in favor of gold and way out of line with any historical numbers [read: 88/1 vs. 17/1]. 2. the upside profit potential always favors silver (i.e. it's easier to double $15 than $1400). 3. I like it.
Always the contrarian ain't you rono. Folks are busy ramping up their margin balances to buy stocks and you're heading for the bunker. Personally, my money is on you.
Couple of points for clarification. I am NOT 'going to the mattresses' with my play in the metals. My play is strictly a momentum play. That's all. My canaries started singing and I checked the pictures and decided to see if there was anything to ride. I made my first step purchase and now I'm waiting and watching. BTW, I also own a bit of SILJ which is the junior silver miner ETF.
As to why the metals are moving . . . good grief. Let me count the ways. There are many, many potential issues involving black swan type events, but also there simply the ongoing issues with paper metals vs. real metals, the dollar as reserve currencies vs. various gov'ts wanting their gold or adding to it - the conspiracy and survival types - industrial. And in all honesty, why it's moving doesn't really matter. It's just the direction and momentum.
As for the market. Cripes, I'm fairly long and riding the crest of the wave like the rest of you. feh.
@rono: You said," As to why the metals are moving . . . I bought a pair of sterling silver earrings for my steady Saturday ! Time for another but !! LOL Derf
Comments
Regards,
Ted
YTD:
GLD: 10.89%
GDX: 33.67%
When rono say buy... You may think about adding more
Sold Pho last month was iddle and took loss past 2 yrs
Thinking going China Town in couple of wks and buy real 24- gold bars, dig and burry them in back yard
https://beta.canada.com/investing/golds-lustre-may-help-hedge-your-bets-if-markets-head-south/wcm/4dae48ea-374b-411c-a787-c0221510989e/amp/
Couple of points for clarification. I am NOT 'going to the mattresses' with my play in the metals. My play is strictly a momentum play. That's all. My canaries started singing and I checked the pictures and decided to see if there was anything to ride. I made my first step purchase and now I'm waiting and watching. BTW, I also own a bit of SILJ which is the junior silver miner ETF.
As to why the metals are moving . . . good grief. Let me count the ways. There are many, many potential issues involving black swan type events, but also there simply the ongoing issues with paper metals vs. real metals, the dollar as reserve currencies vs. various gov'ts wanting their gold or adding to it - the conspiracy and survival types - industrial. And in all honesty, why it's moving doesn't really matter. It's just the direction and momentum.
As for the market. Cripes, I'm fairly long and riding the crest of the wave like the rest of you. feh.
and so it goes,
peace,
rono
Derf