So what you’re implying in the chart is that last great buying opportunity? I’m in.
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Gold and silver prices are down
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Varmint
NES Member
Yeah I’m not sure miners have bottomed or not but getting close if not. I think silver miners might go lower, cause they haven’t really sold off like gold miners who look sold out.
Erfle and Roy-Byrne are in agreement in this case. Jordan certainly has some confidence but he’s not absolutely 100% we don’t get more selling off. I’m hoping the double bottom is the last step before the moon.
Varmint
NES Member
Yes, and both have done a great job predicting what would happen to PMs and miners the 6-9 months or so. Both think we've bottomed but are open to the possibility of gold touching $1690 or $1750ish. I actually prefer Erfle's analysis cause he looks more at fundamentals, while Roy-Byrne is mostly looking at charts, so he seems to miss trends compared to Erfle.
Erfle keeps pointing out that each miner bottoms individually, which is very true - the smaller ones bottom when their financings become free trading and investors dump the shares, either cause they have warrants or to move onto something else. That makes it hard to set price targets for individual stocks. But I'd say most junior miners have bottomed already.
smokey-seven
NES Member
I knew the dealer well and asked him after I got the 1099B. He replied (long time ago) that the sale was for over 10K$ and he had to write a check for the total. Paper trail was a lock, both from him and to me, so he sent a 1099B. It was less than 1,000oz. but not by much. Any audit would show the 10K+ pay out.
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That alone does not create a legal requirement of a 1099B.
Maybe of interest to you guys
gab.com
gab.com
gab.com
Scottsdale Mint on Gab: 'Our CEO actually just did an interview on this wh…'
Scottsdale Mint on Gab: 'Our CEO actually just did an interview on this whole thing. You can read a transcript or listen to the audio on it. Breakdown of phys #SILVER vs COMEX paper price Scottsdale Mint CEO: OUTBIDDING COMEX FOR METAL SUPPLY PAYING 8X TO 10X NORMAL PREMIUM "So what that...
Scottsdale Mint on Gab: 'Rhodium's mooning has been amazing to watch. We a…'
Scottsdale Mint on Gab: 'Rhodium's mooning has been amazing to watch. We actually plate two of our Alpha Omega coins in rhodium. It's an expensive plating.'
Scottsdale Mint on Gab: 'Can confirm. We do this. It's why premiums are so…'
Scottsdale Mint on Gab: 'Can confirm. We do this. It's why premiums are so high right now. We have to out bid the banks to secure your silver auction style = higher premiums. 🚀🚀🚀'
Guys what are a few miners I should look into? I know some have been mentioned back in this thread but I can't seem to find.
Varmint
NES Member
Maybe of interest to you guys
Scottsdale Mint on Gab: 'Our CEO actually just did an interview on this wh…'
Scottsdale Mint on Gab: 'Our CEO actually just did an interview on this whole thing. You can read a transcript or listen to the audio on it. Breakdown of phys #SILVER vs COMEX paper price Scottsdale Mint CEO: OUTBIDDING COMEX FOR METAL SUPPLY PAYING 8X TO 10X NORMAL PREMIUM "So what that...
Scottsdale Mint on Gab: 'Rhodium's mooning has been amazing to watch. We a…'
Scottsdale Mint on Gab: 'Rhodium's mooning has been amazing to watch. We actually plate two of our Alpha Omega coins in rhodium. It's an expensive plating.'
Scottsdale Mint on Gab: 'Can confirm. We do this. It's why premiums are so…'
Scottsdale Mint on Gab: 'Can confirm. We do this. It's why premiums are so high right now. We have to out bid the banks to secure your silver auction style = higher premiums. 🚀🚀🚀'
I heard the premiums on 1000 oz bars is typically 5cents over spot, but is currently over $1. Maybe that’s what he’s talking about.
Varmint
NES Member
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Varmint
NES Member
Feb 12, Timing Gold-Stock Trades Adam Hamilton 321gold ...inc ...s
Europe Stock Recovery - from ZEAL LLC
www.321gold.com
Read this first, he makes a great point that gold miners aren’t like buying Tesla or the S&P500, you can’t buy after they’ve run up and you can’t buy and hold, you have to stay engaged constantly. When the bull market ends, miners will lose 90% and be down for years. They’re very cyclical even when in a bull market like now. If you bought even the best stocks back when they were hot last summer you’re down 30-40% now. The hottest ones like smaller juniors are down 50% now. I bought Aftermath silver recently at $0.7, it hit $1.37 last August. I watched it for 6 months waiting for it to pull back. If you chase miners you’ll get steamrolled.
Right now is a great time to buy, most miners are at or below their 200day MA. And you see a lot of negativity and disinterest in miners, despite that none of the fundamentals have changed. The weak hands have sold out, that’s the time to buy.
More just looking to watch right now. Might dabble into some at small dollars to get used to the Webull platform. All the money I transferred is what I consider disposable so if I make any real mistakes I'm not out a mortgage payment.
Ive been buying physical silver since 2009. The paper concept is foreign to me. There is a lot to learn.
Streaming or royalty companies might be worth a look. These companies don't have the mining operational risk, but participate in product produced from the mining companies via royalties. FNV, SAND, OR, WPM, MMX, MTA are just a few names.
Look for stocks that also trade options, so you can benefit by receiving premiums to reduce the risk of holding these shares.
Look for stocks that also trade options, so you can benefit by receiving premiums to reduce the risk of holding these shares.
Varmint
NES Member
Ok perfect, markets are closed tomorrow so I’ll post some recommendations before Tuesday.
Varmint
NES Member
I'll update this as I think of best buys right now:
First the obvious choice is GDXJ for gold and SILJ for silver miners. Those distribute your risk and contain a most or all of the good larger companies. GDXJ is an easy bet to double (almost) to $90 and SILJ really depends on how silver does, but it's leveraged to silver. GDXJ would be a great buy at $46-47 and SILJ at $13.5 and below. Not sure they will drop that low.
If you're looking for 5 baggers you need to buy the individual miners, since the ETFs are full of companies with limited upside - you get the most upside from exploration, and many miners aren't doing any. Although if gold breaks out to $2400-2500, they will all go up a lot.
Liberty Gold (LGDTF) = developing two gold resources in Utah and Idaho, has really sold off but looks like it's bottomed. Great buy at $1.30, could drop to $1.20 this week if the miner rebound doesn't start. This is a potential 4-5 bagger from these prices.
Dore Copper (DRCMF) - developing gold-copper mine in Quebec, has a mill all ready to go - could pull back if copper sells off but this is a gold/copper explorer/developer play so I don't think it'll pull back much. Great buy at $0.55 to $0.65.
Irving Resources (IRVRF) - Japan based explorer - love this one cause (a) very small float so it's very volatile - it dropped to $1.35 this month before some good drill results pushed it back to $1.95, but it can easily drop back to $1.50 due to small float. And (b) it's unique cause they can mine silica flux w/ gold in it, and sell it as is to Japan's refineries who are all eager for flux ore - bypassing the need for their own mill and processing operation. This one has been held back by Japan's strict Covid response - it's been impossible for foreigners to get into Japan to work on drilling etc. But a drill team is now on the ground after quarantining 2 weeks.
Minera Alamos (MAIFF) - this one is down I think cause it's Mexico based. Easy 5 bagger if nothing bad happens with Mexican mining politics.
Energy Fuels (UUUU) - uranium miner in US, also vanadium, and is now getting into rare earth mining. So that's like a triple whammy, which is why it's up almost 300%. Watch it and grab it if it pulls back 50%.
Labrador Gold (NKOSF) - Newfoundland explorer who has property that's likely over the same deposit as New Found Gold. Lots of drilling results pending that if they confirm the same level of deposit as NFG, the stock will be a 10 bagger easy. But the first drill result was a whiff, so the stock dropped 50%. Another whiff and it'll be a 10 cent stock. Roll the dice if you feel lucky, I'm in.
Not really listing silver plays cause I think they're at risk of 30% drop. But I have orders in for some silver miners:
Aftermath silver @ $0.70
Defiance Silver @ $0.43
Also good would be AXU @ 2.35, MMRGF @ $0.28 etc.
Great postI'll update this as I think of best buys right now:
First the obvious choice is GDXJ for gold and SILJ for silver miners. Those distribute your risk and contain a most or all of the good larger companies. GDXJ is an easy bet to double (almost) to $90 and SILJ really depends on how silver does, but it's leveraged to silver. GDXJ would be a great buy at $46-47 and SILJ at $13.5 and below. Not sure they will drop that low.
If you're looking for 5 baggers you need to buy the individual miners, since the ETFs are full of companies with limited upside - you get the most upside from exploration, and many miners aren't doing any. Although if gold breaks out to $2400-2500, they will all go up a lot.
Liberty Gold (LGDTF) = developing two gold resources in Utah and Idaho, has really sold off but looks like it's bottomed. Great buy at $1.30, could drop to $1.20 this week if the miner rebound doesn't start. This is a potential 4-5 bagger from these prices.
Dore Copper (DRCMF) - developing gold-copper mine in Quebec, has a mill all ready to go - could pull back if copper sells off but this is a gold/copper explorer/developer play so I don't think it'll pull back much. Great buy at $0.55 to $0.65.
Irving Resources (IRVRF) - Japan based explorer - love this one cause (a) very small float so it's very volatile - it dropped to $1.35 this month before some good drill results pushed it back to $1.95, but it can easily drop back to $1.50 due to small float. And (b) it's unique cause they can mine silica flux w/ gold in it, and sell it as is to Japan's refineries who are all eager for flux ore - bypassing the need for their own mill and processing operation. This one has been held back by Japan's strict Covid response - it's been impossible for foreigners to get into Japan to work on drilling etc. But a drill team is now on the ground after quarantining 2 weeks.
Minera Alamos (MAIFF) - this one is down I think cause it's Mexico based. Easy 5 bagger if nothing bad happens with Mexican mining politics.
Energy Fuels (UUUU) - uranium miner in US, also vanadium, and is now getting into rare earth mining. So that's like a triple whammy, which is why it's up almost 300%. Watch it and grab it if it pulls back 50%.
Labrador Gold (NKOSF) - Newfoundland explorer who has property that's likely over the same deposit as New Found Gold. Lots of drilling results pending that if they confirm the same level of deposit as NFG, the stock will be a 10 bagger easy. But the first drill result was a whiff, so the stock dropped 50%. Another whiff and it'll be a 10 cent stock. Roll the dice if you feel lucky, I'm in.
Not really listing silver plays cause I think they're at risk of 30% drop. But I have orders in for some silver miners:
Aftermath silver @ $0.70
Defiance Silver @ $0.43
Also good would be AXU @ 2.35, MMRGF @ $0.28 etc.
UUUU touched $6.35 premarket just now. Also, China is considering restricting REE exports to US dod. If that actually happens I’d consider an absolute moonshot for any REE explorers and producers.
I have a good sized position in Labrador so I’m expecting a whiff or homerun on the next results.
Oil and Natural gas poised for more gains since refineries as well as suppliers shut down because of the storms.
Varmint
NES Member
If we both have a lot of Labrador it guarantees a whiff.
We should post these in the Market Toilet thread too. I know some guys over there hold some of these plays.
richc
NES Member
You know what the that means Rich? More for us.
Varmint
NES Member
Gold's hanging onto $1780-1800 support for dear life. If we see $1760 we'll probably see $1700.
richc
NES Member
I would expect any new stimulus plan, adding trillions more to the country's debt, will give PM's a boost.
The only thing I know for certain is the price will be higher or lower tomorrow.
Oh, and the 2021 1 ounce gold American Eagle showed up today. For my first grandchild (granddaughter) who is expected in May. Got to get her off to a good start in life!
10yr note at 1.31% and rising. Do people really feel that bullish about the US economy? So many inversions late ‘19 that I wasn’t paying attention to at the time. I doubt we can rise above 2% unless every other economy is crumbling hard and all that’s left is Us.
richc
NES Member
The Feds can exert a lot of control over interest rates but at the end of the day retail and institutional investors have the most control. Look at what Reddit users did to GME recently. If retail and institutional investors run for the exits with Treasuries the rates will rise substantially.
The government will control interest rates until it does not.
If it keeps rising yield curve control should be next move, right? I can’t imagine interest rates keep going up in this current economic climate without causing immense pain.
richc
NES Member
If there's too many sellers and not enough buyers, as could happen if we see a lot of inflation and rates that are too low, there's not much the government can do. I suppose they could buy the Treasuries to control prices and yields but that runs up the US debt and causes even more inflation.
Almost inevitable IMHO. I can't say when but I believe this is what the future holds.
Varmint
NES Member
Short term you have interest rates that keep going up putting pressure on gold. The 10 year is up to 1.316%. Gold goes inverse with interest rates for some investors, so those who bought gold as a safe haven or because rates were going down are now selling.
Those like us who bought gold cause of an out of control Fed, know that interest rates will only rise until the Fed panics and institutes rate control.
So gold is just drifting rudderless until something breaks and/or the Fed takes more action.
richc
NES Member
The government is making big money moves that decrease the value of the dollar. Whether it's lowering interest rates, huge money giveaways (aka stimulus), or buying stocks and ETF's to support the market.
Something will break along the way. It's not sustainable. and the bad stuff is like a snowball running downhill... it keeps getting bigger and faster and starts to run over everything in its way.
Something will break along the way. It's not sustainable. and the bad stuff is like a snowball running downhill... it keeps getting bigger and faster and starts to run over everything in its way.
Varmint
NES Member
You can see clues everywhere for our future. Bitcoin is an example, and lumber going up 400% in a few months. These are hyperinflation. We may not get it in everything, but you’re starting to see what it will feel like.
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