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14/04/16

11:36

Post #: 17501289
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Originally posted by snout ↑

Excuse me for interrupting CG/cha........my 2c.
Have to disagree re gold final shakeout to come. Technically XGD been in bull market sine Dec 2014 when big volume went through followed by big gyrations ever since, but higher highs and higher lows ever since. From FA view gold miner efficiencies on the up generally, costs down (thanks in part to oil)...eg today RRL announces diesel hedge 2 mil barrels.....smart. POG has been less 'shakeable' of late
Re price of oil, too significant in terms of political/sovereign interests across the globe for it to be allowed to fall below $30 for any time. As far as I am concerned that has already happened and it has motivated the powers to act, so unlikely to happen again.
I understand your concerns re iron ore oversupply. Re base metals; they all bottomed one by one at the end of last year and early 2016.
BHP I hope to offload closer to $24 but will watch closely at $20. Then you can short the life out of it Captain!
By the way BHP no longer produces silver, Cannington is now part of S32.......now there's a punt on the silver price that punters overlook, everybody looking for a spec to trade. S32 price has done well suggesting base metals have bottomed. Chart wise it looks to be completing a large inverse head and shoulders (don't tell pisces) as does every other metal and oil stock and index I look at incl the US miners.
Now of course they could all turn town tomorrow for sure. US oil stocks are certainly are all hard up against resistance; they are either going to break through for a wee rally, or not. Don't know if it will happen, but I am looking for a short run at least in all metals, accompanied by further U$ weakness. And yes i am aware it had a bounce off major support.
And thanks for your commentary guys, always worth reading.

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thanks snout my roadmap same as yours on gold. trend still up

agree bhp not a producer of silver . reserves 5th highest in world with dreaded olympic dam. still in mothballs for silver but 4 or 5 years away. all my silver stocks up here so happy week. copper as chance here on monthly as well so your bhp trade should get there
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The Big Boys, page-555

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The Big Boys, page-555

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