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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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ajtj99
kimberley
To: ajtj99 who wrote (46)4/29/2020 10:48:13 AM
From: ItsAllCyclical2 Recommendations  Read Replies (1) of 98154
 
Gold sector is tough. It can look strong and then break quickly. But IT wise I still think there's quite a bit of institutional money looking to get exposure given the global money printing and precarious debt situation IT/LT. But ST I'm conflicted. The junior space is lighting up and some issues for good reason, but this is also a late cycle indicator (in context of current subwave). We are still early in this process for 2000+ gold, but ST many big caps (FNV, RGLD, AEM) look extended in price and valuation here and now. Valuation is a very poor timing tool, but can see where many of these companies report and they fail to move higher given the move into earnings already. Even if they move higher I suspect we'll test this levels again from above (42 GDXJ). I've been doing more selling again this morn, but more because I want to lock in gains and get to a more reasonable overall allocation to the sector.

KGC for instance could rally back to the upper end of it's range after earnings, but guessing 6.25 will be seen one more time prior to 9+.

Sector is difficult for me to time and I've been doing this for 20+ years. So keeping a core thru this process to capture LT gains is still my plan, but will of course trade around it.
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