Post by
Kato5579 on Jan 08, 2021 11:53am
K
I shared some you optimists re: K price hitting high teens and gold up to 2700 Q2. Do we not see how powerful the short cartel is, today is a good lesson. I got lucky made four profitable trades yesterday and even luckier to get out my last 10000 share trade 10 minutes b4 close. Still hold some in my rrsp account. Not trading K today, gold chart looks ugly. Big money can easily push gold down lower than 1850 and hit more sell orders. Going to wait for a longer consolidation for support and hopefully reverse up. Good Luck and be careful.
Comment by
007dave on Jan 08, 2021 12:45pm
I will concur with you but gold was overbought and due for a correction. Maybe not such a violent one but I think support is here in the mid 1800's. The run up in 10 year treasuries hurts gold as well. I think Treasury yield will trend back down. Once the spendy Dems get in they'll open up the spending vault and gold will continue up.
Comment by
Kato5579 on Jan 08, 2021 1:09pm
If you are long, it may have to be longer, nothing is certain gold is going to new highs. I was in on the last gold bull run, then the big boys would not allow it. Caution is the key. Never bet too much in one basket.
Comment by
007dave on Jan 08, 2021 1:28pm
I was long 3500 shares at 9.07 and sold on Monday at 10.18. I will be buying more on the dip, hopefully it goes back to low 9's. Kinross earnings are a month away and they should be as good or better that Q3 so I'm thinking it will really into earnings call.
Comment by
Kato5579 on Jan 08, 2021 1:44pm
Good for you, price may go down more from here. If gold does not bounce back up past 1850 by end of next week, K will be suppressed at tthese levels. Also if K price goes up say past 10.50-11 b4 earning release I am selling my remaining 3500 shares, can be a buy on rumor sell on news type of situation. GLTA
Comment by
BiggyG on Jan 08, 2021 3:11pm
expecting a bit of a runup pre ER.
Comment by
mrleao on Jan 08, 2021 3:22pm
Don't worry the socialist and $2000 money is coming. Bond will rise again and gold will follow. Opportunity to load up the truck.
Comment by
fishcarrier on Jan 09, 2021 6:02pm
I've been very lucky so far. On Jan. 4 when I saw the runup in gold and K shares, I sold the whole lot. Made very decent money. Still had some BTO, then when it hit bottom on Friday, I bought some more BTO and KL. Kl because I expect them to release their early Q4 report about Monday. I prefer K, and will probably sell some KL after their early report. GLTA.