Lol, hmmmmmm market trading 41.50 at the time of your post. Seems like maybe, and this is a BIG maybe, you are trying to get a better price by "correcting" your entry price. You see why it's possible to think that?
This is looking like a breakout from the consolidation after the big move on 12/1. Will be looking to take profits on my add at ~1250.
Things could change but do have a stop in now at 1195.
Edit: just realized in my post above this I said I added and rolled at 1995.10 it should say 1195.10...
Someone's getting pounded today.
All in all very interesting. Will be looking to add on any kind of consolidation or pullback but will still be fairly conservative because of the jobs number on Friday.
Hahaha. I'm not attempting to forecast either. I just know that gold/ silver/ miners are a decent risk reward here. My $500 HUI number was just a total guess. Usually I'm grabbing a 10 baggerish if I'm right. Takes me lots of swings to be right sometimes, so for all I know, Gold could be...
Starting to look like we should get some short term weakness in gold here. Still long. Will be willing to add to positions when we get up and through 1200. That may take another couple weeks though.
XAU is outperforming....
If you look at a long term chart of XAU/GOLD, imo, it will be important for XAU to outperform in comparison. I think it would mark an overall change in market sentiment. The miners are literally an eye bleeding buy right now. They are a 10 bagger or better.
Still long and liking the action today. Anytime the miners and silver are leading I think it's a good thing. Any move above 1200 will be a sign for me to start playing more aggressively.