Take a look at gold/silver miners
- Thread starter heavenskrow
- Start date
Lots of easy money already made off the bottom, with both the mining stocks and ETFs.
If gold has a summer rally and retraces back to the 1,290 level, then the miners should keep going up. They seem extremely oversold on a longer term chart.
If gold has a summer rally and retraces back to the 1,290 level, then the miners should keep going up. They seem extremely oversold on a longer term chart.
Yah mon, all these miners are hitting very long term supports.
What do you think the best way to play this is? There might be various shakeouts or a long bottoming out instead of a v bottom.
Right now I am long ANV, GDX, SLW, and AG. Thinking of doing some RS analysis and buy the strongest ones??
What do you think the best way to play this is? There might be various shakeouts or a long bottoming out instead of a v bottom.
Right now I am long ANV, GDX, SLW, and AG. Thinking of doing some RS analysis and buy the strongest ones??
waste of time. a portfolio of gold stocks will do the trick there is a continued rebound.
IAG was a good one, from $3 to $4 in less than 10 days, or a 33% return. Like I said, easy money made off the bottom. GDX and GDXJ both do well on a gold rally, that way you have the group of miners and won't have to pick the "strongest" ones.
If you're really gutsy, then take a look into the leverage funds: NUGT/JNUG. However, be aware that they move triple with the sector, up AND down, and are repriced daily, so if gold pulls back the levered funds tank hard.
And just fyi, I'm not making a recommendation here to buy or sell these stocks/ETFs, just providing my opinion.
Just charted IAG, fuckin beautiful chart man.
Wish I had saw that. Very similar to ANV but cleaner.
And no worries about disclosure, your opinion is appreciated.
I bought some GDX but then sold it today..didnt like the risk/reward. Sure maybe the risk as a whole is low, but it dropped 70% from the high vs a 85-90% for individual miners.....whereas the reward potential back to the high is a 200% vs a 1800%......
Triple leveraged ETF's, they used to be my choice of weapon back when I was trying to turn $2000 into $4000 in college, but with bigger portfolio, I'm trying a different strat.
still rallying despite resistance in gold futures...BULLISH i say! :eek: