Gold & Silver have done very well#GOLD & #SILVER have been on tear for some time.
Both showed bullish patterns & we took advantage of that.
GOLD
We've been long term holders of the shiny metal but we did take a chunk of the "paper gold" profits (stocks, contracts)
Want to step back in but RSI and $ flow have lost some steam, waiting.
Silver
Still looks pretty good.
Volume is still heavy for both = demand.
AMEX:GLD AMEX:SLV $PSLC AMEX:CEF
CEF
$Silver making moves, has it finally stopped consolidating?Silver is looking like it finally wants to break out!
AMEX:SLV looks even better on the weekly chart!
Monthly, looks okay. not great but that can change over time.
This could be the beginning of a HUGE Squeeze!!!
2x would be nice and is possible this year.
Have physical, AMEX:CEF , 2025 #silver call options.
GLQ | 11% Dividend Yield CEF | BounceClough Global Equity Fund is a closed ended equity mutual fund launched and managed by Clough Capital Partners, L.P. It invests in public equity markets across the globe. The fund seeks to invest in stocks of companies operating across diversified sectors. It employs fundamental and quantitative analysis with a bottom up stock picking approach to create its portfolio, with focus on factors such as a company's competitive position, quality of company management, quality and visibility of earnings and cash flow, balance sheet strength, and relative valuation. The fund follows a theme-based investment process which involves focusing on such events as industry consolidation, technological change, an emerging shortage of a product or raw material, and changes in government regulations. It benchmarks the performance of its portfolio against the S&P 500 Index. Clough Global Equity Fund was formed on January 25, 2005 and is domiciled in the United States.
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Stocks PSLV, PHYS, CEF, SPPP GLD, SLV, FUTURES, DJI
Backing Up The TruckIt seems silver is heating up. Better shine up your bullion and get ready for some crypto-like swings. From a macro perspective it looks very similar to the bullish cupping pattern on many other charts. Starting with the Fibonacci extensions measured out from the past major bull run it looks like once again, price clings to the levels like a magnet.
During the 2003-2011 bull market the most notable swings range from 65 to over 100%. The pullbacks sometimes just as violent. The 50 week EMA looks like it was a relatively solid support level and will likely remain so in the future.
Silver has already made it's first 75% move from off the 50 week EMA and has pulled back to the 0.236 fib. It looks like that could be the floor for now. Another 75ish% move would put it up between the 0.5 and 0.618 level around $40.
It will likely take some time to get there with a lot of chop. There is still a risk of the DXY having a technical relief rally especially if new starts rolling out of 'stimulus' disappointments. This is how I've been playing it considering these risks...
After it broke $20 - accumulating bits and pieces on dips, building a core long term position. Trimming and booking some profits into the larger swings.
Fib targets to watch for now:
0.382 --- 31.50
0.5 --- 37.45
0.618 --- 43ish
Trading is risky, don't do it.
Long (6% of portfolio)
Silver bullion and coins
SLV, PSLV, CEF
$HYD with a negative outlookRSI gave the earlier signal with the bearish crossover, MACD did the additional confirmation. It was important to see the price action as well. Recent highs were sold and Yesterday we finished in negative territory. Volume spike suggests that there was profit closing with an attempt to buy the dip. Selling is minimal, though if the picture continues to deteriorate we may see active sellers here.
Portfolio update: I'm long a few thingsThis is how my equity portfolio looks on the long side -plus a stake in $RVLT-. I also have shorts in $NVDA and $NFLX, which -if we consider that $CEF and $TLT are pretty much like shorting the market-makes my portfolio 51% long, 1% in cash and the rest 'short'.
I'll hold this for the time being, watching the developments here onwards.
Good luck,
Ivan Labrie.
CEF: Options expiration support heldGo long on a breakouf of Friday's high, stop at Friday's low minus 1 tick.
If we break above 13.73, we could see long term uptrend continuation.
CEF is a good addition to your portfolio, you can read more about it here: www.centralfund.com
It's a closed-end fund, which offers a good alternative for low-cost investment ownership of gold and silver bullion.
CEF is 31.13% up, YTD, and 6.53% up relative to S&P500, YTD.
I'd favor it over GLD and SLV.
Good luck,
Ivan Labrie.
CEF: Long opportunityWe're already long here with a very tight stop. I'm looking to add next week if we make a new weekly high, there's a considerable chance that this stock launches into a strong thrust to the upside from here, so try to take a small position initially at least.
Good luck!
Ivan Labrie.