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Gold/Mining/Energy : Gold and Silver Miners and the U.S Markets.
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To: Beam who wrote (1695)4/3/2014 6:05:28 PM
From: Robov3 Recommendations

Recommended By
CurveBall86
drager
StemuliteWorks

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I'm way past that point Beam. What good does it do? I still hold some MUX and took a position in RBY this week using an RRSP (401K) account so this will a long term hold on RBY that will multiples higher than the $1.06 in another few years. I am looking at one or two other long term plays in some cheap miners as well and will hold MUX for as long as it takes. My main focus the past few weeks has been trading the Futures markets S&P, DOW, Nasdaq, Oil, currencies futures. When I'm not working and sitting here trading I can't help but sit and just shake my head as the S&P E-minis and Dow plow higher and higher into new all time highs as the economic data get worse and worse while gold or should I say highly leveraged unbacked naked paper ponzi gold derivatives contracts drive the real physical price of gold lower and lower. This market was created and serves only one purpose and that is to manage and control the POG. Truly an Alice in Wonderland scenario.
That said there is still plenty of money to be made in these markets if you know where key supply and demand levels are. They are clearly visible on ant chart if you know what you are looking for and offer high probability trade opportunities with minimum risk vs maximum reward. Sold my NQ contract way, way to soon this morning instead of letting it run. Still a profitable trade but a third or less of what it could have been had I let it run, but a profitable trade is better than a losing trade and I am still learning these markets so tend to be somewhat conservative.
Changes are a coming and very likely a lot sooner than later at this point in the game. Gold was well past due for a correction as where the miners. I think most were just caught off guard by the speed at which they dropped, but I would rather see a quick and dramatic drop and correction than a long drawn out one.
The weekly pattern in MUX is very similar to what happened a year or so ago as highlighted in yellow on the chart. Although the drop this time was much quicker and more dramatic, you can see price dropped from a year ago from the 3.70 level, paused briefly at 3.00 fell to the 2.40 for 2 weeks and then had a spike down to 2.15 before launching up to a high of 2.81 settling that week at 2.64. I would not at all be surprised to see that happen again as we hold the 2.40 level here currently. But if you look at the chart you can see that the real origin of our initial big move from the lows originated once we broke out and above the 2.10 - 2.20 level. The demand levels at 3.00 and 2.65 did not hold and based on my trading instruction you can bet based on that big green candle leaving that area that there are almost certainly a large number of institutional buys orders sitting there waiting to be filled in the mid teens. I'm not saying it will happen, but, I am prepared for it to happen and will be buying if it does.

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