Post by
dmack17 on Feb 28, 2021 11:47am
AMC doesnt need pumping
Gimme a break the whole world knows. I recently got back into mining stocks in Jan this having been out since about 2007. Two of my companies are first majestic and silvercrest. Should be good companies one is way down and one I have a slim profit. But I remember now, you dont hold mining stocks, they cant hold gains. They pop up, everyone sells and then they crash. Silver has hardly gonedown and once again the mining stocks are rocketing south.
They usually only go up for a very short time before crashing, thus their reputation as high risk. If you buy 5 stocks you wil be lucky if more than one goes up. I can still remember going to those mining conferences in Vancouver, I was standing beside Rob McEwen, as they were pumping away and I said " It's over, something is wrong." The stocks crashed of course and dont forget they only go up for a very short time before they crash. I think all the insiders dump hard while they are on tour pumping.
The best plan with mining stocks is as ssoon as they go up, take out your original investment, they are not sound investments.
My job now is to warn new investors so they dont become bagholders.
By the way AMC is doing way better than any mining stock except maybe New Age Metals which I would never buy now having taken out my original money. Dont worry about mining stocks, everyone knows they are high risk and bitcoin has stolen all their thunder. They made their bed when they screwed all those investors in the early 2000's. We haven't forgotten and then new kids buy crypto and physical, smart. Mining stocks have no market now. See you at the bottom as the insiders scramble for the exits. The light switch is on the left.
Comment by
JBoukis on Feb 28, 2021 2:01pm
https://goldsilver.com/blog/the-cheapest-asset-in-the-world/