Member Info for bonker99

2007 ..........

The “keep it below £100 mcap crew are still here”

Fixed ...

At $17pb costs, the short-term oil price movements between $30-$40 is somewhat insignificant in the larger scheme of things.

Who knows but this captured my interest:

https://www.google.com/search?&q=OTCMKTS%3A+HRCXF

Nice.

Cash position?

FWIW, technically speaking, it's perfection - c19p after c11s IMO.

Maybe - looking for 11s in the first instance.

PMs being pummelled on volume at the mo - this'll be a test ...

$130 ;)

Morning.

So far, so good.

If the market has a brain between them then they'll see the PMs moves , currencies moves and Brexit as all part of the same plan (mega offshore tax evasion aside, perhaps) - it's a race to the bottom for currencies hence why Basel 3 came into effect on the very day that Brexit was originally supposed to kick in last year.

The banks know the game is up for the paper they hold so they elevated physical gold to the equivalent status of cash and govt debt via Basel 3 - Brexit in 2021 should pour petrol on the PMs embers they're fanning right now.

Evening.

A positive start to the week for gold and silver so far with silver @ $28 as I type and gold @ $1,970.

I just spent a little while studying the silver weekly chart and it strikes me that there's a chance they may gun it (possibly very soon) to the $33-$37 range, quite probably locking in a low price for silver "forever" of c$26.

For those doing the math on a possible big cash build here, I think it worthwhile factoring in a $26-$35 per ounce price range for silver into 2021 and how that could merit a forward-looking SP well north of a fiver.

If they go for a blow-off top on gold then the c$2,200 area anytime soon looks ripe for an enormous dump if they've had enough (see the all-time gold chart from 1980 to the present ...) but silver could well see upper $30s in that scenario while carrying a reduced gold:silver ratio of c60 from 70 right now.

Both silver and gold are of course carrying red hot RSIs now over the medium-long term so volatility is sure to ensue, one way or the other, sometime soon.

North of c$2,200 for gold will have eyebrows raised all over the place and I'll be looking for my intermediate target on gold of c$2,700 for sure in that scenario with silver at $45+.

Gold trading at $1,970s next week looks pretty darn bullish to me - it's pushing at $1,967 at the mo so they're going to need to break out the monkey hammer tonight/Sunday night to stop it as things stand to my eye.

-ve rates looks a virtual given to me - in 2021 - the banks set up this PMs run for a reason ...

I make no predictions, I merely point out that in the immediate-term it looks bullish but as ever, we'll only know where we're going when we get there ...

Silver at +4% right now - both gold and silver trapped in heavy triangulation for the past month or so but it's getting boxed in now, even a minor lift from current levels could be seen as pivotal IMO.

The only way they're hitting that inflation target (and they haven't done it yet) is via the printing press and we all know it.

PMs have had a great run, time or price wise this is no pullback at all so far so I wouldn't be at all surprised to see gold test mid $1,700s or so to cool off a little but close > $1,950 anytime soon and it's likely going the other way - impossible to call the very short-term moves as ever.

No cigar yet but so far, so good.

Arguably, Silver is in the process of breaking out of a large Bull Pennant on the daily chart with a potential target of upper $30s.

It's an extraordinarily steep trend line and those hardly ever hold under normal circumstances but these are from normal circumstances ...

HOC is legendarily difficult to call but an epic trader if you catch her right.

If it's not around here and they want to stretch out the inevitable for a bit longer then perhaps 180-200p looks very attractive but I'll take 220s with a tight stop for now.

The only thing I'm sure of is that the PMs rise of late is just the starter, the main course will be served in 2021.

Who knows what JPM have in mind for silver - to the possibly ginormous benefit of the likes of HOC & FRES - but there'll be a lot of physical silver being bought as an alternative while gold is anywhere near $2k and that will likely pressure silver upwards again. At some point it will outstrip gold in speed again IMO and I've no doubt it will see $50 again at some point, likely squeezing the gold:silver price ratio down markedly in the process.

Yup, similar line on the HOC chart from 220s ...

If they hold then they'll go very well, if not then we may want to stay our hands for another -10% or so.