Sorry I missed your comment. I too have Yamana lots from thwn $18's on down buy=t have flipped quite often from the $13's to $14's.
As for SKF, all things are pointing to a record high (over $150), but I smell a rat at these levels and bought some more UYG today.
We are on the cusp of an extremely dangerous time period for the financials and TPTB may be up to something????
3 comments:
Everyone is probably set in their trading activity, but I still like to see trades and levels.
I have been on travel a ton lately and not a ton of posts from me this week as I just got back from DC...and get ready for New Orleans on Monday. Joy. Anyway, just my two cents
I suspect the PTB are letting air out of the balloon. They'll punch it again back to the 14k range. It could drop to 11500 (see 1yr).
10 yr sez we're still in an up channel started in 83.
I use an SMA of 20,42 and it's pretty reliable for indicating the 80:20% area. So far it's showing more downside to come. It just started the 80% drop 1st week of June. The RSI is nearing 30 though...? Anyone an expert with MACD?
Technicals aside, the fundamentals suck. The fed is out of ammo and cannot put in a floor at 12K like it had in the past. Rate hike banter is just that IMO. A hike would further depress the market.
The consumer is injured, the dollar is in poor shape.
Time is the only answer, along with transparency in the system and a very aggressive energy policy, both in the short term and long term.
My guess is 1100ish on the S&P. That will be the final bottom....and probably wont happen until three or four more cycles...
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