I had more fun today buying mining stocks in the 20 minutes I had to work with than a kid looking at new bikes at the toy store. Geez, so much to choose from....but it was really fun. I bought 7 new positions today. Will probably buy more or add to these tomorrow.
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That spike down in gold at 2 am last night was like watching a lightening bolt. This gold bull market has awesome power and momentum, and I am still shaking my head at what I have witnessed. Needless to say, I think the daily cycle that was about to conclude, did concluded last night at 2 am. From here we should be to $1400 gold very quickly. A couple weeks, if that.
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I have commented on each chart and will not belabor the comments here. If you are interested in a particular chart, to see why I bought the stock, my explanation is there.
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Click on the charts to ENLARGE
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My TSI Trading record has been updated.
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If you have time some time, could you tell me what "zero crossover" means and how you arrive at it?
ReplyDeleteIt looks to me like I am pretty much in sync with you, but you have more backbone then me in willingness to take a position.
Loren
Loren -- that's a great question and I have not written about how to use some of the buy and sell signals for a while, so this is actually a good time to talk about the ZERO crossover.
ReplyDeleteThe TSI plots a line that travels both above and below the ZERO line. When it crosses up through that ZERO line (sometimes I accentuate it with a white line) that is a buy signal.
The way the TSI works when the indicator is rising above ZERO, price is ALWAYS rising. Likewise, when the TSI is falling below ZERO, price is ALWAYS falling.
So, when the TSI crosses over the ZERO line and starts heading north, price is rising and that is a good time to buy.
Thanks for the question!
Do you think that the equity market will continue to have positive correlation with gold? I know that you have picked up some TNA in the past... would you do that again at these levels?
ReplyDeleteHi ItGoes - thanks for your question. I remember buying TNA at about $39 and buying more of it all the way down to below $35 and writing that I was confident that not only would TNA return to $41, but that it would reach $46. I have not looked at it for weeks and where do I see it tonight? $47.
ReplyDeleteTo tell you the truth, I think TNA will go up and down in relation to the US Dollar.
But big deal.
The only real game in town is the precious metals secular bull market - not the stock market.
I will not fool with TNA with what I believe is coming up at this time with the miners. At some point the buck will finally begin a counter trend rally and that will be it for the stock market.
But not for gold. Gold will do exactly as it wishes and that, for the duration of this C wave - is go higher and higher and higher.