Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Office manager,
Rather silly comment from you. Of course I'm not. I'm pointing out that it is not the evidence that it had been portrayed to be.
But if it's over 2 weeks old and no RNS regarding EA then it isn't in place.
Isn't that FB post he tweeted over 2 weeks old?
The majority of Seeking Alpha 'articles' are just blog posts written by P.I.'s, rather than real journalists, that get portrayed as actual articles.
As is also the case with this one:
"Written by Retirement Pot
I am a private investor based in the United Kingdom and most interested in equities in the U.K., U.S., Canada and Norway."
Anyone can post an 'article' there without it being checked so they are often misleading and incorrect which is why there are irregularities in this one. I discount anything that gets posted there as it is usually a P.I trying to pump or dump a stock.
I remember they once posted an 'article' saying that Elon Musk was joining the board of ANY which led to a big spike in the SP there.
BTC is back down testing crucial support at 46.5 and is looking like it is losing it. BTC has closed the daily candle under the 200DMA for the last several days which means that even with a brief relief pump like yesterday; 44.7k and 42k are within reach. If 42k is lost then it's 30s next but that's a bit early to call.
BTC closing under the 200DMA can't be called anything else but bearish and a sign of more downside to come before a move up. It continues to be dragged down by the dropping equity markets.
Nasdaq tried a relief rally after open on Friday and was up 1.6% before it was again was followed by a downward correction which continues to show that a rally is not sustainable at this level. A deeper correction is needed and I believe it will continue this week with the occasional small relief pump on it's way down with both the Dow and S&P. The market futures are currently deep red and will continue to drag everything down with it.
These relief rallies are fueled by people piling in expecting a 'santa rally' but they are not taking into account that the market is currently priced too high and so every rally is heavily sold into which leads to an immediate correction.
My plan remains the same and I will continue to target the lower levels of the correction.
I'm long term bullish but bearish until the correction is completed.
All my opinion of course which could be wrong so DYOR and make your own plan.
It all depends how low this market correction will be. I can personally see Nasdaq Composite perhaps going as low as 14500-800 which would naturally drag everything else down with it including BTC and the miners.
There is no "bottom" for any stock despite what some may say. If the market wants to go deeper then stocks will go lower in a market correction.
At the moment equity markets are extremely overpriced and in need of a further correction for a sustainable rally to occur. The last few market relief rallies have all ended with a deep corrections which shows a rally is not sustainable at the current levels.
As I've said I've been actively shorting both indices and equities this month. These relief rallies have been a gold mine to short as it is quite clear that they cannot hold.
Investing in anything right now holds more risk than normal. The equity market is without a doubt in bear territory and will remain so until the correction ends. It's up to each investor to decide how much risk they are willing to take in these conditions.
Again, all my opinion which could be wrong.
"Interestingly bitcoin has only dropped 20% over the same period, so you could say that the drop of all miners has been over done."
It's not a surprise that the miners are down more than BTC.
Miners are essentially a leverage play on BTC. Look at the 52 week charts of the miners compared to BTC. They have far outdone the BTC rise. Some by several 100%.
However, that leverage works both ways so when BTC dips, the miners dip more.
Another point is that the miner's valuation are also connected with two things.
Firstly, the 'expected' price of BTC. Everything was all fluffy bunnies and rainbows when the 'expected' price of BTC this year was 100k+. That doesn't seem very likely anymore and BTC is shaky to say the least, despite what some 'influencers' are saying, so miners are naturally taking a valuation hit.
Secondly, both BTC and the miners are considered speculative assets and are the first to be sold off during a market correction.
Nasdaq fell 2.47% and the S&P fell .87% yesterday after the brief relief rally on Wednesday. The majority of companies in those indices are already in a bear market and the indices have solely been held up by tech stocks which have now also begun to fall leading to a deeper market correction.
Tesla dropped nearly 6% yesterday and Apple nearly 4% which is an enormous amount for companies of their size and so drag the rest of the market down.
Market futures are continuing to drop and I believe the correction is far from finished.
BTC and the miners are linked with the market and will continue to decline as long as they do, IMO.
Likewise they rally when the market does as seen with the relief rally on Wednesday. Once the market has corrected itself sufficiently we can see a renewed growth spurt.
All my opinion of course which could be completely wrong.
Global indices are dropping and so speculative assets - such as BTC - drop as well. It's 'risk off' sentiment at the moment.
Asian markets are deep red this morning and US, UK, and EU market futures are not showing any sign of strength so far after yesterday's big drop.
So many people are expecting a 'Santa rally' to take place now while completely ignoring that nearly all indices have recently set several ATH.
A deeper correction is needed before further growth spurt can be achieved, IMO. And that correction seems to be taking place now.
Until the market direction changes, I find it safer to short the market while adding certain targets along the way if they reach a level I'm comfortable with.
This is a great opportunity for anyone who feels they missed out on certain prices if they feel comfortable to invest during market weakness.
Again this is my own opinion and could be completely wrong so absolutely do not take it as advice and DYOR.
Well done, splatted. It's all about profit in the end. It is good to play the market both ways. I'm accumulating certain stocks at these levels in stages as eventually I think it will all rally while shorting certain stocks I feel are overvalued. This ranging of BTC and the stock market gives plenty of opportunity both ways. It is easy to just hodl but I prefer trading.
I agree with your comment to have a plan, Canetoad.
Tis' the season to be shorting, IMO.
You can be a bull and a bear. Both make money.
I've been shorting equities this month which includes US BTC miners and taking profit along the way. The recent US equities rally this week was a big bull trap and another golden opportunity to short which dropped heavily yesterday. I think there is still more way to go down but I took profit on several of my shorts yesterday.
The US market has been the only thing holding BTC up lately as there has practically been no volume so when it moves down BTC follows.
Equally when it rallies up again BTC will follow.
My thoughts are that the US equities rally this week was "unhealthy" as it was way overdone and overpriced the market that needed the correction that was in play in order to then have fresh growth spurt EOY for both equities and crypto, IMO.
I could of course be completely wrong and it was a very risky move on my part but I can't argue with the profit made and taken on my shorts.
I think it will all eventually end with a big breakout to the upside for both stocks and crypto.
Ps. Had a short on GDR yesterday which I cashed in yesterday for a quick $1200ish profit. Thanks Tiger for highlighting what an easy short opportunity it was.