Golds next bull run? What to buy?Gold looks to be headed higher even with a strong dollar so what are the best ways to play the next bull run in gold? I know Travis has (SAND) in his portfolio but I’d like to know his thoughts as well as yours. Do long term call options make sense for more leverage? I’d like to know what others who believe gold is going higher are buying and what worked best the last time gold reached new highs. Thank you in advance for your input. JB
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I agree with hendrinuzzles comment that “No one knows what the price of gold will be in the coming months”. I do know that I am way more comfortable having positions in gold and silver mining stocks (including PVG) right now as opposed to not having any positions! That may not be very scientific but sometimes that is what it boils down to for me after I do my research. Am I more comfortable with having a position or more comfortable passing on it?
Long: PVG, SAND
Yeah…all these assets are supposed to give us peace of mind.
If we are nervous about them then we are doing something different…amusing ourselves, gambling, speculating…something. If we’ve got this stuff and it’s just making us nervous then something is wrong.
Gold stock reactions on Friday…the more I look at the moves on Friday, the more unusual they seem. I have no data to prove anything, it’s just that the entire sector moved 10% in a day. This is pretty amazing.
It’s like there is more money than ever either moving into the sector, or getting ready to move, or ready to react to news. I think what is happening is that the acceptance of gold as an alternative investment is gaining momentum, and the capital being deployed can be overwhelming when everyone is hitting the BUY button at the same time and all thebuy stops and technicians are looking at the same prices and their algorhythms are kicking in.
This is somewhat borne out by the performance of the big caps, which was really astounding. And the presence of the gold indexes as a vehicle of choice will make the moves even more pronounced, they will feed on themselves.
Friday, a 2.5% move in the gold price. $30 roughly, triggered a 10% move in the stocks.
Four times leverage. What is going to happen if gold goes up $50, $60, or $100 ?
Taking a step back, the gold price is now where it was back when the Chinese announced their quasi-peg to the yuan. at $1239. Since that announcement gold shot up through the fix, hit $1300, and then fell back before the jobs report. So in a sense, nothing has happened. But there is a lot more volatility in the gold patch now.
H.N. I agree it might be people are getting nervous about the value of the $. Looks like we might have a crazy Democrat convention and the Republicans are running a guy they have reservations about.. One thing about the USA we put it all there
Long DGC, SLW, OGC, PVG, AG, FVI, CKG, few small positions
It seemed important to me that Gold held $1200 when a correction seemed appropriate and that gold stocks over-reacted to the upside on Friday. The money seems to flowing into Gold. I don’t know why, but I’ve learned to trust my gut in investing and something has changed in the last 5 months which has brought me back into the fold. The feeling is similar to 15 years ago. I could come up with all sorts of reasons, but the important one for me is that a lot of money is moving into the Gold sector. I don’t know if it will last 5 minutes or 5 years. FWIW, the only conspiracy I believe in is greed-based.
My sense is that gold prices have been artificially manipulated by governments, central banks (same thing) and big players, but that the globalization of markets and the emergence of hundreds of millions of hard money consumers in China, India, and the Arab world have made it tougher for the cabals to control things.
Tougher to control gold prices with a billion and a half Chinese, a billion Indians, and 900 million Arabs wanting the stuff and able to buy it.
HN Right on target. The manipulators you named have been plugging holes in the dyke furiously but I sense the tide of individuals you cite are about to overwhelm their capabilities to continue. When a dyke is breeched a flood soon follows, That could easily happen in the next few weeks or months. I think it is not unreasonable to expect $5000.00
gold and miners a leveraged multiple of gold gains. Silver may even surpass as the world is bumping against a real shortage, not a manipulated one. L hold $HL which is now @ $4.00
plus or minus and in 2011 it was $17.00. Long $PVG $SAND and some Jr’s which may never recover,,, but they might. 🙂
Moderation… should have spelled it dike.
YEP……..
HN Right on target. The manipulators you named have been plugging holes in the dike furiously but I sense the tide of individuals you cite are about to overwhelm their capabilities to continue. When a dike is breeched a flood soon follows, That could easily happen in the next few weeks or months. I think it is not unreasonable to expect $5000.00 gold and miners a leveraged multiple of gold gains. Silver may even surpass as the world is hitting against a real shortage, not a manipulated one. L hold $HL which is now @ $4.00
plus or minus and in 2011 it was $17.00. Long $PVG $SAND and some Jr’s which may never recover,,, but they might.
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Silver does double duty as an industrial…good and bad. Gold is the main money
metal so my emphasis is there as much as I also like silver. When people run for cover gold will be where its at.
Not sure if anyone posted this. The angry geologist on $PVG.
http://angrygeologist.blogspot.com/2016/06/pretivm-bulla-crustulum-or-raptus.html
Thanks, I hadn’t seen it but the Angry Geologist doesn’t seem to realize that the
ore is going to be bulk processed. They are not mining the veins, they are going to run everything through the mill. He spends a lot of time trying to piece together the veins, it is
irrelevant, the ore is going to be processed in bulk.
Is this going to be an open-pit project then?
When I get a minute I’ll ask my resident goldbug to run the Angry Geologist’s comments by our mining engineer friend, and maybe a geologist friend too for good measure.
BTW mining engineer friend also was involved not so very long ago on a Mongolian project – not sure if it is the one currently being developed – legally he might not be able to comment. Is there a link or links I can pass on to him?
We’re always cognizant of insider trading issues.
Penny
It is NOT an open pit project but the mining underground will be in blocks, and the ore will be processed in bulk. They are not looking for or following individual veins, they are looking for concentrations of veins to select their blocks for the mining plan, and all the rock will be crushed.
The best source is the PVG website. The Strathcona episode can be googled easily, Strathcona/Pretium will bring up the major press releases from 2013.
I found the Farquharson/FNV connection on my own while doing DD on FNV’s directors.
Farquharson is the head guy at Strathcona.
Brent Cook had some good things to say in the Korelin Economics Report about Mariana Resources in Segment 3 of that show this weekend (You can play each segment separately without listening to the whole show if you wish) he also mentioned their stock roll back proposal which was also listed in their General Meeting Announcement for June 30th that I received in my Email this morning
http://www.kereport.com/2016/06/04/weekend-show-june-4/
Any thoughts about the rollback?
$MRLDF…Mariana Resources…long
I emailed Mariana Resources to inquire about the Chilean drilling results which were promised in May but have not been forthcoming. They informed that the program has not been completed, hence no announcement, and that they will provide a public update shortly.
I am still long and intend to maintain a position, but will likely reduce the position size somewhat, as there is now not likely to be dramatic news on the Chilean deposit immediately. In passing one should remember that the Turkish Hot Maden project is the main event, and it seems to be progressing satisfactorily.
Good morning Hendrix. I am still trying to accumulate at this point. My problem is I must be a gold bug at heart and want quite a few of them. I wanted to make a correction to my post the other day. I think I said Soros bought ABX, I must have been thinking of my account. Seems I found where he bought into GLD. Sorry for the mistake. Hope to be like Marin and hold long and strong, I think we are in for quite a ride. As they say a lot of things can influence the price. It is easy for them to say they only have positions in 5-6 stocks when they know the how, why,who,……we just do the best we can as we explore info we can dig up. Thanks for doing such a good job of doing that for us all to benefit from.
Time for another page! Also don’t know if you would consider a thread on this topic, but would like to see if you have thought about or explored this. BitGold….from GoldMoney. Thinking about this and trying to get a handle on it. I am to scared of BitCoin and Ethereum, don’t understand them and don’t want to, but thought this might be of interest to us gold holders. Thanks again. Karen
As I do not understand Bitcoin fully I do not want to venture into that sector.
I think it warrants its own thread; it is related to money, granted, but it is so vastly different and so innovative that I do not think it belongs in a thread oriented toward gold, silver, and
other mining commodities.
Hendrix, it is not Bitcoin….it is BitGold….belonging to GoldMoney! James Turk. That is the only reason I posted it to you here, in case you wanted to explore. It is supposed to be physical gold held for you, you can receive if you want, if not you can use a gold credit card and spend your gold in increments. I guess load and unload the card as you wish to. A way of making money on your savings. Just saying…..
Thanks for the clarification, sounds much more interesting, will check it.
I have stated before that the old idea of a non-lending, unleveraged non-fractional gold bank is a good idea that would have a lot of appeal to different parties.
MRLDF…Mariana Resources…still long but reduced my position today. Proceeds into cash and $SAND. Loving $SAND.
Also still long (MRLDF)
Almost 8.3 million shares traded today and here may be another contributing factor:
Issue of Equity- Warrant Exercise – June 1 2016
Mariana Resources Ltd (“Mariana” or the “Company”), the AIM listed exploration and development company with projects in Turkey and South America, announces that 9,800,000 warrants exercisable into ordinary shares at 2.636p each have been exercised and funds have been received. The warrants were issued pursuant to a Convertible Security Agreement with Bergen Global Opportunity Fund, LP, the details of which were announced to the market on 17 September 2014. The facility was subsequently terminated, as announced on 23 February 2015. The Company will issue and allot 9,800,000 new ordinary shares.
Admission to AIM
Application has been made to the London Stock Exchange for the new ordinary shares to be admitted to trading on AIM. Dealings are expected to commence on or about 6 June 2016 (“Admission”).Following Admission, there will be a total of 1,199,318,272 ordinary shares on issue.
One good thing about the stock role back (if it passes) At least it will be a 1 for 10 consolidation
MRLDF…long…Wonder why they are doing this, they are already on AIM. Don’t like the delay on Dona Ines and recent insider sale. Still long but reduced position.
HEADS UP…I’ve noticed the last few days that there are clear signs of revival in the miners of industrial commodities. Not gold, not silver, not iron ore, and not coal…I am referring mostly to the zinc/copper/nickel guys.
I got beaten up very badly last year on VALE, TCK, and ATUSF and have been watching the descent of these stocks to absurdly low levels. The only positions I held onto in the sector were TCK, and a new optionality play IVPAF.
My thinking was that gold and silver can move up because of financial/currency reasons regardless of industrial conditions; but the other miners will need something positive in the world economy, demand/supply wise, or they will need overall price inflation.
For whatever reason there has been a distinct stirring in TCK, VALE, and other such material miners in the last few days. I have also noticed positive news releases concerning the price/supply situation in zinc. So I am not sure of the reasons, but there definitely seems to be a price trend reversal in this category of miner. It may be the beginning of a stealth bull move like we saw in precious metals in January.
I am thinking of re-entering VALE, which is under $5, and my antennae are up on this group.
$BALMF.Here is an article that popped up on sa last night.They did do some finance at like .71 a share last year. So it might get some legs under it..
Buy This Gold Deposit Ahead Of Its Maiden Resource Estimate http://seekingalpha.com/article/3980253?source=ansh $BALMF, $GARWF
BALMF…long…I agree that Balmoral is attractive and I am long.
Balmoral has a high HOG (Hendrixnuzzles Optionality Grade) and also assets in industrial metals that are severely discounted.
This one is interesting about the EU. Could affect gold prices. http://www.thebigresetblog.com/index.php/ex-central-bank-president-mervyn-king-easiest-outcome-would-be-for-germany-to-leave-eu/
An excellent article, Dan. Part of me keeps hoping there will be no ‘big event’, but we had best be prepared.
I agree If the English pull the pin .. As far as I’m concerned we are done… We will stick with her..We love her like our mother. It’s just we have a hot wife.. So how it works out is yet to be seen. If Arth pays off we Buy a Jag?
Jag?
How many shares must I buy??? 🙂
Dan62…Love the English but not enough to buy a Jag.
If Arth pays off you will need a Brinks truck.
For investor101. Never invest more in a “sure thing” than you can afford to lose.
Investing is not a get rich quick blueprint but is risky. Most of what we most fear never happens, and too often what we most hope does not either. There is such a thing as unforeseen occurrence and along with it unintended consequence. Even with established wealth in the ground, cost of getting it may be too high or some disaster may strike.
Be cautious about overextending any one investment. DO NOT act on the thought,,, if i miss investing here I lose out. There is always another and perhaps better opportunity.
He who hesitates is lost,,,but Look before you leap. Sometimes ..Don’t just do something,stand there is best policy. If you lose your stake before you learn to play,,,
how do you start over?
Thanks for the words of wisdom, arch1. If referring to how many shares to buy to be able to buy the jag, it was my very poor stab at humor. Figures it would take quite a few! I have so much appreciated all the posts from gumshoe land on this thread. I have a trading account I opened in 2000. I played at buying just some things I liked. I tended to buy and not sale anything, sometimes I didn’t even open the statement. I am not silly about any of this, just really getting interested in taking care of our own money and needed to start learning more. I still have Amazon I bought at $55 and ADBE at $42 and PEP at $37 for examples and lost my position in ENRON and down horribly in Ebay. :-). My accountant is mad at me for not selling my Amazon, but I like to see that big figure in my account when I check it. I have been an Irregular since I first found Travis in 2013. I have felt the need to buy gold and wanted to know more before I put money in the gold stocks, that is why I have been so attracted to this site and all the smart people. I just ask forbearance as I try to learn from all of you. I finally got brave enough to post a little bit and Hendrix made me feel welcome to as have others. I thank you all.
So, the car…I thought that’s what you meant by jag, but wasn’t sure. I want my own island,… but I’ll take the ability to retire a little earlier. 🙂 Actually, after waiting so long, and wondering if they’d ever get somewhere, I’ll be happy just to not be terribly wrong on the stock and see it make some money….if not, my play portfolio is going to be a lot smaller which means less fun. 🙂 Why not a Tesla? Just kidding.
This author Willem Middelkoop is clear-eyed and straight talking. His book The Big Reset is highly recommended. Great, easy-to-follow analysis of the situation without
an agenda to sell or a newsletter to subscribe to.
The United States of America will back Great Britain… That is a fact.. We did what we had to do.. We will go and back and do France again if need be. After watching D day special..Obama I like but time to put Muslim’s in place stay where you are.. this has to be done in a timely manner
$PVG Why no insider interest? How many shares does Quartermain own?
Quartermain owns a ton of it, between $6 and $10. His interests are completely aligned with shareholders. Besides his fortune he has his life work and reputation riding on this.
$PVG….Re: Quartermain’s PVG interest:
It’s not a primary SEC or company source but the following link asserts Quartermain’s
interest in PVG is $500,000 in stock and $1,000,000 in options.
http://people.equilar.com/bio/robert-quartermain-pretium-resources/salary/622126#.V1dtlPkrLIU
He does not own any far as I can find..
Pretium management stake:
http://www.pretivm.com/investors/share-structure/default.aspx
Management listed as a group owns 2.01 %.
$PVG…long
from PVG website: Top Shareholders at May 25, 2016 (Source: IPREO, SEDI)
Silver Standard Resources Inc. 9.58%
Van Eck Associates 6.02%
Zijin Mining 5.08%
Black Rock Asset Management 5.02%
Orion Mine Finance Group, Blackstone Tactical Opportunities 4.75%
Liberty Metals & Mining 4.69%
Sun Valley Gold, LLC 2.46%
M&G Management 2.23%
Pretivm Management 2.01%
Connor, Clark & Lunn 1.98%
Sprott Asset Management 1.84%
Future correlations of interest rates, stock and bond prices, and gold:
We are at a very interesting point concerning the relationships of the interest rates, the US dollar, stocks, bonds, and gold.
INTEREST RATES. IMO there is no further room for the Fed to lower rates, unless they enter new territory and go negative. IMO this would be an irresponsible, artificial and foolhardy policy of unknown and unknowable repercussions. But if NIRP were to become Policy, in my opinion it would be extremely bullish for gold, even though I am hopeful this crazy idea goes no farther, and I assume that rates will stay where they are, maybe for a long time, or go up.
STOCKS AND BONDS my opinion is that stocks and bonds will decline with interest rate increases. This is the logical and classical inverse relationship of interest rates to pricing of instruments that are based on interest rates. So I see way more downside in stocks and bonds, based strictly on the fact that interest rates have no logical direction to go but up, or maybe hang around zero for an extended period. Bubble, anyone ?
US DOLLAR…while interest rates on Fed paper have an impact on the value of the USD,
there are many other negative trends facing the dollar. There may be rallies and short counter upmoves, but overall most of the factors are negative; and I do not see how the dollar will avoid declining in value over the long term. Fed monetization of debt, currency wars, continued use of the computer mouse and printing press, current economic conditions at all levels in the US, government financial position, maybe even helicopter money in some form….all negative for the greenback. There could be an increase in nominal interest rates while the dollar devalues.
GOLD The “classical” relationship to gold, other things being equal, is that higher returns on financial instruments tend to depress gold prices. Since gold “does not generate returns”, this is a logical reaction in normal times. And there is ample short-term evidence to show that the investment community at large thinks things are “normal”, and still regards this principle as being operative. [Example, We see knee-jerk market reaction in last week’s $30, 2.5% jump when data gave belief the Fed will delay its expected .25% June rate increase. A quarter of a percent ?!? On $100,000, this is $250 PER YEAR. At some point a lot of people are going to say, Who Cares ?
$100,000 invested in SAND or ABX or any decent gold stock, got you last Friday a $10,000 IN ONE DAY. Wait til SAND starts paying a dividend!]
GOING FORWARD I think it is possible that gold and silver might start to behave differently to “classical” expections vis-a-vis interest rates. They might go up even in the face of official Fed rate increases. My reasons:
1. There may be price or commodity inflation that is greater than nominal interest rate increases. We have a bumpy price deflation recently with a few asset bubbles fueled by the Fed. This can change quickly and in fact is the goal of the Powers that Be, who have been frantically trying to stoke inflation. The onset of inflation may be a lot faster than the monthly and quarterly Yellen pronouncements which are parsed ad nauseam for every nuance on whether the rate will go up .25% in 30 or 60 or 90 days.
2. A severe fall or correction in stock and bond prices may generate a sharp search for
hard asset investments, particularly gold, that outweigh the benefit of a fractional interest return on other financial instruments. So a secular bull movement into gold might occur simultaneously with official rate increases.
3. A loss of confidence in fiat currency, or a financial, economic or political crisis, could generate demand for hard money investments irrespective of nominal central bank interest rates. This could occur gradually or suddenly in a Black Swan. It could occur inside the US or elsewhere.
4. Numerous gold investments do pay small dividends. In the event of NIRP or very low nominal rates, these dividends will grow in importance and undercut the “gold does not pay dividends” argument.
5. The Fed and the US dollar, while still gigantic, are declining in relative importance, and other world players limit the sway of US markets and policymakers. There is also the possibility that the Fed will just lose control of the market for the ocean of US debt instruments that are sloshing around out there, or try to keep control of by accelerating creation of currency units to buy them back; which they are already doing; this will be inflationary to say the least.
In sum, I do not think that the inverse relationship between interest rates and stock and bond prices will be invalidated. And I can also easily envision circumstances where the relative value of the USD declines even though nominal interest rates are going up.
But I can imagine several scenarios where the classical inverse relationship between interest rates and gold prices is invalidated. In the end I think an outcome along these lines is more likely than other outcomes. Such “other outcomes” would be US stocks and bonds increasing in value while interest rates increase; or Fed tightening of a few basis points reversing the decline of the USD; or the Congress getting a grip on spending and deficits and unfunded US obligations; or the 60% of student loans in arrears getting paid up; or the US economy improving dramatically, and so on and so forth.
So I for will not be especially surprised in the foreseeable future to see drops in the values of stocks, bonds, and USD; and increases in interest rates, inflation, and the price of gold, silver, and related stocks, which will be commented on in wonder by the analysts.
HN, I sometimes wonder if the inflation levels should be looked at for different income groups. The cost of living has being going up for the middle class, says this buyer of groceries for the family, and payer of electric bills, college costs for our kids, etc, while our government gives inflation numbers that don’t reflect that reality.
I like SAND (long) as I think it can grow and prosper and eventually throw off dividends even if gold doesn’t rise astronomically. It’s good to see their emphasis on paying down debt, and their ability to buy low when they see opportunities. I think SAND makes sense even if you aren’t expecting to need it as insurance against inflation.
Hi Sharon, I am extremely confident in my large SAND position for many reasons. My circumstances and my outlook influenced my selection process and since we agree on nearly everything except theology I would like to share with you and others of the same mind some of the key elements.
My circumstances are that I am retired. I have a reasonable amount of assets, but like many other people my problem was finding income in retirement from deployment of those assets.
My outlook over the last several years was that I have had increasing skepticism in the safety and outlook for traditional income instruments like stocks and bonds, and I have been increasingly worried about the Fed policy and the direction of social, economic, and political trends in the United States. Short version: our country and the USD are headed for trouble.
So my attraction to hard assets began. Like many I had to fumble around trying to decide
how to invest in gold and gold instruments…but over my time at Stock Gumshoe, I have become comfortable with a multi-instrument approach that I have explained and put into action.
One of the key components of my gold/hard asset strategy is an important position in the royalty/streaming companies. Of course they are safer than mining companies, it is very difficult for them to go out of business because they are basically in the business of cashing checks and buying gold production at below market prices.
Conceptually, they are basically doing what I needed to do…they are BUYING INCOME STREAMS BASED ON CURRENT AND FUTURE HARD ASSET VALUES. So they are actually implementing the strategy that I am looking for personally.
Now getting to SAND specifically. I have listened to more video presentations by the principals and executives at SAND than any other company, and I must say that I am as impressed by Nolan Watson as one can be, short of having first-hand experience with him. He seems to be an individual of the highest integrity and character; he has the
hard-headed and realistic outlook of an accountant, in which field he has achieved distinction; he learns from his mistakes; he has experience with an established leader in the field (SLW); and he and co-founder David Awram have shown that they know how to build up their team and enterprise without overextending themselves. And they have shown themselves to be hard-working and energetic. On top of this, he seems truly motivated and ambitious, without having the negative traits of greed, self- importance, and lack of perspective.
Watson has values I trust, to the degree one can divine a person’s character listening to them and watching what he or she does.
And what has Sandstorm Gold been doing ? They have been buying deals, royalties, and metal streams like crazy, while the market has been flat on its back. At some point in the future, and not too far off, SAND’s income is going to blast off from the deals they have done in the last 18 months, And they have been reducing debt while expanding future income. Watson is a conservative accountant and SAND does have access to over $100 MM credit for deals; but Watson wants to ELIMINATE debt from the Sandstorm balance sheet, and will only use a large amount of debt for a slam-dunk deal.
On top of any future bonus from metal price increases, Watson has stated that he sees the company paying a dividend in the future. He is in favor of it. And we can be rest assured that Sandstorm will be in a strong position to pay a dividend if one is implemented; Watson will not do it otherwise.
The forecasts of Sandstorms future income are quite conservative, and broken down clearly in their presentations. They have many assets that are not included in their forecasts. And the forecasts are based on $1100 or $1200 gold and $16 silver, so again there is great upside potential from their forecasts to what may actually be realized.
All in all, there are few places I am more comfortable placing my assets. At $4.00, it’s hard to justify not buying more,.
Before making any other investment decisions in the sector, I ask myself:
“Will it be better to put this money to work in Sandstorm Gold?”
Always in gratefullness for all your hard work and sharing it with us. I had no mining stocks and wanted to buy some. You and others have helped educate me in a great way. Before it is all over with I will probably wish I had bought more. My accountant is wanting me to sell anything I am ahead on and I don’t want to. I am afraid if I do I won’t be able to buy back at the good prices I orginally had. He certainly doesn’t have any all he has is bonds!! He thinks I am way over the top with this. My husband did too, until I showed him what we had and how my account was ahead of the financial manager. We got in our statements today and how can you be down in the account while in this market?? Makes me so mad. I agree with you about $SAND, and I also have PVG and FNV. I agree with you that I can’t seem to find any yield anywhere else. I believe in having the physical too, and wonder if that will serve us well in time to come, when most of the people don’t even know what a gold coin looks like. These are certainly very interesting times. By the way…don’t know if this has any bearing on anything, but I noticed that PayPal had to pull out of Turkey, the govt would not let them operate anymore there. Hummmm….
Armstrong believes the DOW will rise with gold as money flees Europe and flees bonds. Depending what bonds you own. Bonds from blue chips should be OK….he says only own short term government bonds and get out of all long term government bonds ASAP. He says only our stock market will provide the size to shelter big money, as gold market too small, and the blue chips have not failed even in terrible times. It doesn’t matter that they will be expensive as this is about the preservation of at least some of our money as currencies die…not about how much you make. Armstrong is an incredibly well informed trader with contacts everywhere.
The financial advisors are in the universe that is about to be blown up. Their strategies are fine as long as everything proceeds normally as it has since 1950, but I think that era is ending and no one knows what is going to happen, least of all the ivory tower theorists on whose ideas who the politicians have been basing policy.
My financial advisor is with a very respected firm. He advised bonds also. They have been a disaster. One of the companies went Chapter 11, the investment went to zero.
My forecasts on macro events have been more accurate than those of their high-paid market analysts. I still use the firm and the advisor because the transaction costs are high, and having assets there puts a brake on my tendency to hop around like I do in my trading accounts. I just make my own decisions and make sure I like the positions I have there on a long-term basis.
As far as accountants…well, Nolan Watson is also an accountant and I would be willing to bet he is a lot more accomplished in that discipline than whoever you are using personally.
Here’s a suggestion. Present a list of your top 5 metal picks, dated with the prices as of January 20. Tell your husband and your accountant that they can raise the issue when
the market index performance of the S&P surpasses the performance of these 5 picks in total, and to leave you alone until then.
Gold…long term technical indicator bullish…MA crossover
We get caught up in the daily fluctuations and looking for nuances when Janet Yellen belches, but I noticed that on the spot gold prices, the 20 day MA crossed strongly over the 200MA back in February and made a big separation the likes of which we haven’t seen since the big bad old run to $1800 years ago. The recent pullback just looks corrective in this context, the short term MA is still way over the 200DMA and the 200DMA is actually turning upwards. This is a bullish sign.
One problem with gold spot charts is that there is no volume. But the MAs are still pretty good indicators and it is significant that the short term average crossed over almost four months ago and shows no sign of reverting back under the 200 Day Moving Average, which is now about $1160.
As I write this at an ungodly hour I see that gold is back over $1250 on no news, Yellen did not belch this evening.