Member Info for Tornadotony

Tuan6

I presume English is not your first language. What you should have said is that a short position has to close at some point and rebuy the shares but if they stay short and others buy stock it can then create a short squeeze and move the price back up very quickly. A lot of traders make money through equity volatility using shorts or selling high and buying back lower.

Sell signal in my book.

Saab nothing happened when other miners did their first gold pour that I have owned. It is when the ramping up phase has proved successful that the SP rises. At some point a serious rally does happen for the precious metal miners. Pull back is an opportunity to add to positions.

Steve

I bought some shares yesterday sub 90p mark. Will hold on to them unless this pushes up to 94p area and collect 5%. With shares in USA at all time highs some of which is Absolutely Inaccurate stock, I can not see how FED can put down rates. The pull back has to unfold first on a stock exchange where companies are earning less money every quarter. However if the earnings beat a sharply reduced low ball estimate we have bloomberg running around say that stats were out performance and stocks are cheap. Can not make up that media garbage and somehow they can keep a straight face.

Maxi I presume your comments are sarcastic humour in the extreme. Alternatively your Brian Tenner.

It is certainly not a funny joke. It stops ISA accounts closing on some platforms from stock ISAs into cash ISAs. It impacts on CGT planning for PIs when we have just 7 weeks to go. The word shortly is not weeks on end. There is no reason why they should not make it known how our cash is to be returned to us. Something stinks here and it has Lombard Odier all over it like the measles.

This is possibly a bull trap in the making. Stock options expiry in USA tomorrow. Gold to continue falling next week is the trend. Spot price gold target around $1973. Centamin has strong support on 89p. If it loses that support line the tape will run this share price back down into low 80's. Eventually Centamin and gold to rally and the USD shakes off overbought positioning.

The shorter is probably buying back sells from those PIs reducing HZM positions as they run out of CGT allowance and historical CGT carryover losses. End of financial year is 7 weeks away.

At London close GDX managed to hold the support line it lost mid-afternoon.

Took out initial buy at 89.16p. Can easily average down if silver support breaks, but has held quite well for most of today. Gold is not far away from more support lines in the $1970's spot per ounce.

Will soon find out if it invalidates or continues to drop to October 2023 low.

S hour chart has Centamin heading to 89p this afternoon. A slow drop down unless somebody rescues gold and silver.

Just about holding thus far. If they break it is a 8-10% pullback. Gold and silver just holding critical support lines. A major pull back in equities could happen especially USA.

Silver holding $22. If it breaks then goldilocks for the USA market is probably over. A market wide equity crash may begin to unfold.

$22 USD currently taking hits.

Those in the 90's are now all closed.

Looks like Kitco blocked that one. A shame as it reports jewellery buying has dropped significantly in the India market and jewellers are waiting for lower gold prices to stock up.

Reuters https://www.reuters.com/markets/commodities/india-raises-import-duty-gold-silver-jewellery-findings-2024-01-23/

Https://www.kitco.com/news/article/2024-01-24/india-raises-duties-non-bar-gold-and-silver-imports-50-effective.

Https://www.usagold.com/daily-gold-market-report/

I guess a few Americans will be burying their stuff in some other place.

All the best Steve,

Gold options not going all that great. I think your decision is wise. Tony