Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Jmax. No, but the last 6 months has been exceptional in that it gave me a chance to make around £1-2k a month in trading FRES and silver. That is because it has been on a sustained uptrend bar the correction in Mar but that provided another good opportunity too. Hopefully this is another. The silver run seems to have just started and good analysts have used that as a starting signal for a true bull run on PM (look back through history). What we have had had been just warm up. I am guessing $3k-$5k would be frothy era and that is when you start selling....caveat is that these trends can take years to play out and prone to deep corrections.
Do you trade full time for a living ?
You have some support around 1200 levels and beyond that is 1000 and then strong support at 850 level. I have bought at 1200 just before close. With PM dropping this deep, I would expect 1100 and 1000 to be tested tomorrow so I will watch and see how it performs. I have a suspicion that FRES will not drop as deep as silver. It had an over 15% drop so far so I will go to bed probably with losing position tonight. I took trades at 2700 and 2500 silver. I think the PM bull trend is still intact but the last bull market was riddled with very sharp corrections.
Carvegyber,
What FRES price will tempt you back in ? I'm long and I expect ups and downs.
Carnage. Lots of speculative and traders have piled into the PM trade when it hit the news that Gold broke record so it has now retraced. Fundamentals still seem intact so we will enter a period of consolidation for the next few days I reckon. As to levels, I still haven't figured that out yet but 1920 would be a level to watch for gold.
What is spooking PMs today?
Or is this just a natural retrace following the last few explosive weeks?
BTB, Covid 19 was named so because of the year it appeared and it is a coronavirus. This is for communication purposes. The virus is actually Sars-Cov2. SARS as it was widely known in 2003 was also a coronavirus and that was SARS-COV1.
Swine flu on the other hand is H1N1 strain which is not related to coronavirus. I supposed they could have called it H1N1-09 but the name swine flu stuck. I believe the spanish flu was also H1N1 strain.
I think the pullback is healthy and short term because the fundamentals haven't really changed and governments are going to raise rates or stop printing yet. Silver has held up particularly well and it seems to have a risk on element to it. Once the profit taking has finished, the rise will resume at a slower pace I hope. It went to high too quickly. Good for traders but bad for LTH.
Well, as much as this dip pains me (financially), I've kept some powder dry as I've been expecting a pull-back, so we might yet get the opportunity to BTFD.
With gold having hit $2K+ I'm sitting hanging fire until we see $1,700 again. My belief is that the market is due to **** the bed again (just like in March) & there are a number of potential catalysts for that (US election, CV second wave, or even just economic reality taking hold). When it does, I expect we'll see another sell off in PMs & miners. THAT is the buying opportunity.
If I'm wrong, I'm already heavily invested in PMs & miners, so will be happy to just let it ride from here. What I don't want to do is go all-in to buy a <5% dip, & then see the sector get clubbed like a baby seal. If anything significant is going to happen, I see it happening within the next three months.
GLA (as always).
BTB, we are on the same wavelength. The masses have to get used to the 'New Normal'
JMAX, exactly! So how do the Elite "persuade" us to take the "vaccine"? The same way they persuaded us to go to war in Iraq: fear!
Like you said: no-one is going to take a vaccine for CV19, so......get ready for CV20; a far more deadly "mutation" of CV19. These people will force their will upon us if necessary, but they much prefer it when the turkeys vote for Christmas.
You think they called it Covid-19 because it was discovered in 2019? Seems logical: I used to think so, too. But if that's the naming convention, why didn't we call the Avian Flu outbreak of 2003 "Covid-03"? Or the Swine Flu outbreak of 2009 "Covid-09"? No: they called this one "Covid-19" to distinguish it from "Covid-20".
But how many people would willingly take a newly and relatively untested vaccine for a virus that is no more deadly than the seasonal flu. Even if the vaccine is a success, it isn't going to resolve : the failed businesses, high unemployment, money printing and the financial problems that existed before CV. AIMHO
I see Russia have announced they have the world's first CV19 vaccine. Is this the cause of the (PM) sell-off, or were they simply whacked by the short-sellers?
They really whacked the metals overnight!
Looks like everything that was wrong with the world is now right /s