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RobinHooders Chasing Gold
#1
If this is true, it might be a good idea to stay away from the stuff ?

https://www.zerohedge.com/markets/millen...-next-tsla

"As precious metals accelerated higher in the last few days, we joked (kinda) on Twitter that the surge in momentum would soon become a magnet for the new trading gurus manning their desks at home - whether in China or Chinatown - and send it to new all time highs.


One day later, it's happening as Robinhood users flood into the gold and silver ETFs. For SLV, the number of RH users holding the ETF has surged from around 15,000 to 20,000 in the last few days...

[Image: 2020-07-23_7-21-50.jpg]

... making it the 16th most popular pick on Robinhood as of the past 24 hours.

In GLD, we have seen less of a sudden surge so far, but the higher it goes the more RH users are buying with over 28,000 now holding the gold ETF...

And in typical Robinhood fashion, every dip is being furiously bought:

[Image: 2020-07-23_0.jpg]
Does this spell disaster for the rally in precious metals? With momo chasers piling in at the margin? Well it didn't seem to hurt TSLA..."
[url=https://www.zerohedge.com/s3/files/inline-images/2020-07-23_7-30-41.jpg?itok=3q4CaBaD][/url]
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#2
Well, Millenials buying PM's is a good thing. Need to be careful though.
Monty Python: “There are a great many people in the country today, who through no fault of their own, are sane.”
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#3
Did gold just take out the 2011 previous high ?

[Image: gold.gif]

v

v

[Image: au3650nyb.gif]
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#4
Well, I think most of us got our insurance a long time ago and don't trade. But if you are trading short to mid-term. Probably best to pause for the moment.

I did buy SVM a few months ago and it's looking good.

Many minors are looking good as well.
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#5
(07-24-2020, 05:28 PM)StingingNettle Wrote: Well, I think most of us got our insurance a long time ago and don't trade.  But if you are trading short to mid-term.  Probably best to pause for the moment.  

I did buy SVM a few months ago and it's looking good.  

Many minors are looking good as well.

I'm so heavy cash right now I need a wheel barrel to buy a loaf of bread.  Everything PM looks way overbought to me.
Monty Python: “There are a great many people in the country today, who through no fault of their own, are sane.”
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#6
(07-24-2020, 08:04 PM)doubletroublejim Wrote:
(07-24-2020, 05:28 PM)StingingNettle Wrote: Well, I think most of us got our insurance a long time ago and don't trade.  But if you are trading short to mid-term.  Probably best to pause for the moment.  

I did buy SVM a few months ago and it's looking good.  

Many minors are looking good as well.

I'm so heavy cash right now I need a wheel barrel to buy a loaf of bread.  Everything PM looks way overbought to me.

Being heavy in cash just now may be a good thing ? ? ?

It is free week again over at EW, and they really stuck their neck out.

Here is what they are advertising:

U.S. Markets - Bottom Line

The Dow Jones Industrial Average and the S&P 500 completed countertrend rallies on June 8. The NASDAQ rallied to new highs this week, unconfirmed by every other major U.S. stock index. The nearly five-month-long non-confirmation relative to the February peaks in the Dow and S&P is a bearish sign. In the blue-chip indexes, the next major wave of decline is underway, and the NASDAQ should not be far behind. Bond buyers of long-term maturities face an enormous risk of a huge price decline when interest rates start to rise. Safe, short-term bonds remain the best choice. Gold's advance to a new recovery high this week completes its bear-market rally. Both gold and silver should now decline. Bullish sentiment toward the euro is becoming extreme, which indicates that the rally that started on March 23 is in its late stages. When it's confirmed as complete, the euro should start a decline that draws prices to new lows. The U.S. Dollar Index will rally to new recovery highs during the euro's decline.
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#7
(07-23-2020, 09:32 PM)doubletroublejim Wrote: Well, Millenials buying PM's is a good thing.  Need to be careful though.

You bet, Jim.  The concern is they may be the hot money ... the kind that can turn cold in the blink of an eye.  A few smart ones will hang on for the duration.
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#8
(07-24-2020, 08:04 PM)doubletroublejim Wrote: I'm so heavy cash right now I need a wheel barrel to buy a loaf of bread.  Everything PM looks way overbought to me

.

anecdotally that is the same story I hear from most my acquaintances.

really strange feeling, I've never heard this before kind of talk in my long life.



I'm curious what it means for future investing and stocks and general prices etc.
the weak ones wasted it, the stronger ones seem to be holding it for something that they have "NO idea what for".




me? I diversified and reinforced my defensive walls...............
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#9
(09-17-2020, 12:05 PM)DaveGillie Wrote:
(07-24-2020, 08:04 PM)doubletroublejim Wrote: I'm so heavy cash right now I need a wheel barrel to buy a loaf of bread.  Everything PM looks way overbought to me

.

anecdotally that is the same story I hear from most my acquaintances.

really strange feeling, I've never heard this before kind of talk in my long life.



I'm curious what it means for future investing and stocks and general prices etc.
the weak ones wasted it, the soitronger ones seem to be holding it for something that they have "NO idea what for".

For what it is worth, I read a while back on Shadowstats that M1 (coins, paper $) increased 40% so far this year.

The spiggots are wide open.  So far, most of the $$ seems to have gone into the Wall Street Casino.
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#10
I bought more PM's ( PHYS & PSLV) after they went down in price a month or so ago. PM's have been channeling in a zone price wise for a while now, setting a floor in the price. This is a good thing, and far less stressful than wild price swings either up or down. The market will move up again soon me thinks, but the longer it channels is fine with me. Even Harry Dent sees gold going to $2,200. Silver has been way more profitable than gold though.
Monty Python: “There are a great many people in the country today, who through no fault of their own, are sane.”
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