@Neil75: "I wouldn’t want to be out of this over the weekend . We are on a skyrocket to the moon , and I’m only 75% down ."
Don't panic. In my view (which is potentially ***100%*** wrong), it's now too late to exit once you're 75% down. The good news is, it's still recoverable, though granted, it might take some additional funds to bring the average down, ****once ARB shows signs of moving up****. That's what I'd do. You might still choose to cut ytour losses or something totally different and I wish you good luck.
(Disclaimer: I'm long ARB. Most on this board are, therefore, their messages are totally biased and might not be in your best interests. Do your own research and don't invest/trade based on what people on this board say)
I'm not a chartist, but I've gradually, begrudgingly started looking at chart patterns over the past year and for the record, there's a massive Cup & Handle on the 10y gold chart now showing. It might take a few months to play out. I'm hoping (praying) that gold starts rising *significantly* into the year-end.
@Autonomy: "The share price is so pathetic its unbeliveable we dont rise when gold goes over 1800 but as soon as it retreats a little bang down we go again"
With very few exceptions, none of the gold miners will move until gold itself moves - significantly. It's that simple. Not everbody realises that and they analyse the company and mining operations forever trying to figure out what's going on. The exceptions are companies like Fiore Gold that were taken over yesterday - that is the only gold miner that has made me any decent money in the past 6m. I'd need a diving bell to check the value of my CEY shares...
RE: Sold trade as BTC going down again26 Oct 2021 15:32
@SR123: "What if if goes back to $50k Cane - what price do you think Argo will go back to? Placees will sell at loses"
No investor sells at a loss unless the fundamentals have deteriorated. I don't see any deterioration. Also, I don't think ARB needs to be the biggest BTC miner. I don't see how that is relevant. What's relevant is the valuation, which in my opinion is attractive. FYI: I also invest in other miners, but with the exception of RIOT, they're becoming stretched now. A couple of months back, I was momentarily 50% down on ARB. By averaging-down at the right time, the position was profitable a few days later, showing how fast ARB can move.
Have a listen to come of the Blonity videos.
Good luck in whatever you choose to do: buy/sell. Everybody makes their own choice for their own reasons. I'm not recommending that anybody do anything...
The problem we have is that gold has failed to maintain the value of people's money. For those who bought at the 'wrong time' in 2011, they'd have seen ~zero appreciation against USD in a ten year period. But in that same time, USD has lost value... And there is no guarantee that it's going to rise from here. I personally think it will, but that's just speculation and wishful thinking. Very few people realise that *all* asset prices are subject to a fickle public.
It looks like it's currently down 0.2%, on the way to another attempt to break above $1,830 for the third time since July. I hope it makes it, but I'm holding off until it breaks above that level. I think it needs to break above $1,900 to attract real attention.
From what I understand, China is reconsidering its ban on bitcoin mining... they are apparently going to conduct a review with the public to decide. The USA has already announced that they will *not* be banning it.
I also ask myself. Am I smarter than Ray Dalio, George Soros, Paul Tudor-Jones? Am I prepared to hedge my bets by allocating a chunk of my portfolio like them?
Buying big into gold right now is just as much of a gamble, because if it dips even 5%, it will crater CEY and most other gold miners. I don't think that will happen, but it's definitely a risk. I'll look to significantly add to my CEY position once I see confirmation. It's too risky for me otherwise.
I doubt CBDC will have any effect because it's going to be pegged to USD, hence there will be no investment case for anybody to buy it. It could be a useful replacement for 'stable coins' though. I have no interest in any of that other junk.
I'm not looking for any significant outflow from BTC into gold. It's hard to see that happening, because the big investments ($1b on 1-day alone last week) are institutional and have just entered the market. If anything, I expect they'll add significantly if it drops.
APD: "Hi @CaneToad and others, any year end predictions on how high or low the SP could be?"
I have no idea. But we need to see business profitability. I'm not an accountant though and I am concerned that there could be exceptional items (e.g. the lease cancellation) that would distort the profitability picture. Longer-term, I think there's tremeandous upside potential. You just have to look at market cap of their competition. It's hard to say what will happen leading up to results (a month away, from what I can tell: Monday, November 29th 2021), but I would not be surprised to see it drift down to 50p.