Why has it been so quiet and bearish on these gold boards?
Well there is one large contributor and that is CKG.v. Poster after poster thought this was a perpetual elevator to heavan. So they bot ... then at some point it would appear many headed for the pearly gates, and simultaneously as well. :>(. So it goes. Kerpluck. And Mr. Ormetal tries to remain positive, while the flock deserts the herdsman. But flocks always wander you know, and some might yet be found.
Now we have recently had several of the flock stating they sold out.
And, well ... the end result may contribute to a bearish view on golds, after so many have felt the CKG pain.
So just where is CKG?
Well I have it here ... in the greater scheme of things not all that far from a huge EW bottom.
ttrader.com
I am looking for a low in the 3.4 area, hopefully about the time VGZ is cracking 20. I have remarked previously that CKG reminds me of Ebay ... I think it is gonna rock, at some point down the road. And in the interim I hope to mine some gold elsewhere.
So ... do ya wanna buy that bottom? Hell no imo. What you want to do is look around, and see if there are many others out performing CKG, stick with the others (if so). But when CKG starts to out perform, you want to rotate. And there are analyses techniques available to help you do this. Put on yer thinking caps.
Making money in pm's (imho) is all about positioning ahead of time, as is making money anywhere else. If done correctly it requires absolute timing and patience. It is not about trading every pop, it is about being in the correct issues and staying in those issues during the right time periods ... i.e. about being in the right place at the right time. AND fortunately not all of the issues are on the same EW path. With the correct rotations there have been and will be some super ops ahead of us.
In regard to those that have dumped CKG here, they are probably doing the right thing, provided they come back. But they have dumped way too late. |
