UPDATE April 11
Another dance with the bulls 💃🐂
The returns are good, but the investing is difficult. If you read my April update, you know that I don't want to own anything. I have to in one account, so iam always "investing" in something. iam always "holding" something, would be more accurate lately. Currently, my largest holding is SQQQ with daily purchases of TQQQ. This keeps that account mostly neutral. That account is limited and has many restrictions and rules. But I digress.
Let us check up on some quick charts.
GOLD
I think the commodity is topping, but the miners are just getting started. This is because investors want to see where the gold price is going to hold up. They always lag the commodity because investors wait to see what their contracts trade at. Are they locked into contracts at lower prices, or did they lock in the higher gold prices? The miners never stay below gold price for long. And lower priced energy helps their bottom line. Higher gold price than last year, lower oil prices, and the miners should start to outperform the commodity.
I'm going to interrupt here because I have quite a few more followers, so I want to be clear, I DONT BUY ON GREEN DAYS!!!. I won't say never but that is an "unbreakable" rule of mine. The reason is that price always comes back. It will retrace/pullback. Nothing goes up or down forever. I point this out because gold is up today. Another "unbreakable" rule, "always," be a seller on big green days.
Miners ; $VanEck Gold Miners Equity ETF(GDX.US$ , $VanEck Junior Gold Miners ETF(GDXJ.US$ Jr Miners (small cap), $MICROSECTORS GOLD MINERS 3X LEVERAGED ETN(GDXU.US$ holy, when did this get to 60 🤑
Tomorrow, an hour before open CPI comes out, then Thursday PPI is released. As you know, I expect a sell down. Do we get a new yearly low? I think so, but we will see. It could just be a correction. But that is tomorrow. Today is today, and that's all that matters, sweetheart.
Does the rally continue???
I believe so, I think we reach 13250 before cooling down in preparation for CPI RELEASE.
I believe we end the day near 13130, right in the middle. However, we can always just sell down, but that doesn't make sense. There is no reason... yet. Now tomorrow may give a reason. But there is only speculation if we were to sell off today, and that would make me suspicious. 🤨
The mid bollinger is ~317.3. To me, that area is the most likely landing zone by close.
I'm still watching, I dipped a toe in yesterday. It's consolidating above 0 line.
Be Safe, Be Careful, Be Wise
and as always
Good Luck ![]()
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Engineer, Commodity Buyer, Alert Bettor,
Tesla 🌬 Commodities BULL🐘 Precious Metals Dragon 🐲 and OIL Trumpeter 🗣🎺
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BruceLin8 : How do you think baba now?
iamiam OP BruceLin8 : I'm waiting I bought a little more. I don't like that today so far is a lower high and lower low.
S Punt iamiam OP : How about tsla?
iamiam OP S Punt : it might reverse, it's trying, we will see.
BruceLin8 : How low we can see QQQ this week?
iamiam OP BruceLin8 : this week? the expected low is 294
Liiii : R u still holding baba? Thanks