Loading ...Yes, according to the rule “buy @support” this should be the time to buy. POG in Euros and in USD both above support.
And the miners “should” follow.
So, I have been looking at longer term charts of miners, esp. this speculative shit, er… explorers and so on. Very interesting. Many of them sharing characteristics with this example:
- has been cheaper than current price (indicated by red line) only for short periods since the 2000/2001 gold bull started
- compared to earlier periods, incredible trading volume in or since 2016
- some are even closer to their lowest lows than the one above, so either less risky or… closer to bankruptcy?
- many of those would be 5- to 10-baggers even before they reach their ATH
Sounds like the best risk-reward-ratio since year 2002 to me. I am even contemplating to sell some physical (Basis: Euros) to buy lottery tickets. Either 1) on breakout above upper resistance, or 2) put in some stink bids, or 3) buy outright.
Some charts look definitely more sexy than the example above…
Edit: I see it like @Farmboy. Buy and hold has not been the right strategy. As the above chart clearly demonstrates. (Exception: Royalty Companies, RGLD, FNV…).
My appetite for risk is rising. Risk management should be mandatory.
Edit #2: to tell the truth, I still own many different lottery tickets down 50 to 99%. And sold too much of SEA.TO (Seabridge) during its first meteoric rise from .40 to 3.50 in 2002/2003, only to see it go to 40 later but owning only a few.
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Schön von Ihnen zu hören, Herr Landwirth. Die Schweiz ist herrlich, besonders die Berge. Waren Sie schon dort? Ich lebe in Deutschlands ältester Stadt. Karl Marx ist hier geboren 😉
You can explore it (in English) here: tinyurl.com/ybssxcg8
(this gate was built by the romans… around 2000 yrs ago)