I do believe in it for the long term and I have been reading some things that I think are good for the company. Of course, "feelings" tend to "create value" in the stock market (or lose it) way too much.
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Gold and silver prices are down
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You can’t trade on feelings. Only trade on technicals and the technicals have not changed for gold and gold miners. Fundamentals are still bullish for gold.
Wrt Newmont they are in the group of senior miners that have not broken out yet afaik. I own some midtier producers that are still very valuable. For example EGO is around $12. I bought it at $9. In 2011 it was at a high of $105. We haven’t gotten there yet imho. The p/e ratio for even $1500 gold is making this stock ridiculously cheap.
Varmint
NES Member
NEM is the most popular gold miner, so basically everyone bought it back in April when gold recovered quickly coming out of the crash, and NEM hit a 7 year high. The rest of the mining sector, which isn't well known like NEM, didn't peak til August.
So it's been consolidating since then along with the rest of the gold sector.
It's difficult for such a large miner to grow via discovery and development, so you're basically buying it in hopes gold goes up so their profit goes up. That's why those of us who are big into mining stocks buy the juniors or mid tiers rather than the Newmonts. If I were you I'd trade it ASAP for GDX or GDXJ, much better upside and less risk than owning a single miner. I say ASAP cause the mining sector has been bottoming in late November and many stocks have been moving up in December. I didn't buy much of any mining stocks between May and November, but have been buying a lot in the last 3 weeks.
If you want to stick with NEM it'll go up too, once the sector is breaking out and generalist investors start paying attention to the gold miners again.
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Varmint
NES Member
Last spring a lot of mines were shut down due to Covid so there's that risk for a large producer like Newmont. That could limit its upside in early 2021. Generally the miners lead the gold price, but it's an unusual situation with Covid shutdowns suppressing miners while Fed and Congress printing inflate the gold price.
Varmint
NES Member
For skeptic Rob, let's check on my April 22 recommendations:
AG +65%
AXU +84%
SILV +51%
USAS +36%
And that's after a 5 month pullback. USAS and AXU are still great buys imo.
To be fair the S&P500 is up 32% as well. Crazy times.
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I still have all the ingredients for a "$30 Dollar Silver Cake"... just sayin.
I have EE and I bonds from the early 2000’s that my daughters received as gifts. I may cash those in to buy some silver for them now after I found the bonds in the back of the safe. Can we imagine how worthless they will be on 20 more years?
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This.
My Niece cashed in her EE's from 1989 through 1992.
About 13K.
When the .Gov needs to do a "Bail-In" to support the Dems (and some Repubs) Socialist Paradise, I feel they will go after the low-hanging fruit first...
Varmint
NES Member
I do miss the silver cake pics!
You'll have to bake fast cause once $30 is breached we won't stay there long.
Varmint
NES Member
I cashed out my $5k in I-bonds a couple years ago. Good riddance!
Wife and piled into EE bonds for the kids college education. If used for educational bills they would be tax free. We failed to read the fine print. By the time we needed the money, we were making too much for the tax free part. Planning for 18 years in the future is not easy. Buy a tube of eagles once a week. The feds will have a hell of a time finding that for taxes.
Varmint
NES Member
Tax loss season is two days from being over and charts show the gold and silver miner 5 month correction has bottomed - so miners could start a new bull run this week, and gold and silver prices will likely follow.
So.... you’re saying I should buy more?
In God We Trust
NES Member
I cashed out all my bonds during the obama crash and bought silver. The bonds were worse than having cash in the mattress.
Varmint
NES Member
So.... you’re saying I should buy more?
Yeah, if you're not fully invested already. A lot of stocks are already 10-20% off their Nov or Dec bottom but a few are making new 5 month lows due to tax loss and/or private placement shares being sold off. Lion One, Osino Resources, Irving Resources. The first two are good buys imo. Novo seems to have bottomed already.
This can be a good week for bargains if anything sells off due to the low volumes.
Varmint
NES Member
I was reading in the paper today that Congress wants to replace the dollar bill with a coin. They’ve already done it. It’s called a nickel.
~ Jay Leno
Just now, America is producing almost nothing except money, money in quantities that stupefy the imagination — trillions here, there, and everywhere.
~ Jim Kunstler
~ Jay Leno
Just now, America is producing almost nothing except money, money in quantities that stupefy the imagination — trillions here, there, and everywhere.
~ Jim Kunstler
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1903Collector
NES Member
Need some opinions, we closed a CD account, best they could do is a whopping .035%. Got about 6k I want to put towards PMs. So far we have only bought silver and done pretty well with it. Should we stick with silver or add a little gold to the mix? In for the long haul too.
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Varmint
NES Member
While silver is more undervalued than gold, and has more upside, I think if this is a long haul purchase get some gold, cause it's a much more universal store of value. Silver is much less popular outside the US.
Varmint
NES Member
THis guy always has nice charts. The charts for silver miners and junior gold stocks are looking extremely bullish. These always lead the physical metals so very bullish for gold and silver.
Jan 1, 2021 Key Metal Stocks In Play Now Morris Hubbartt 321gold ...inc ...s
321gold.com ...takes no prisoners!
www.321gold.com
Varmint
NES Member
Great article here about the silver bull market and silver stocks. Great recommendations - you don't usually get this kind of good info for free.
9 good recommendations, I own three of them: Silvercrest, SILJ and Blackrock Gold.
9 good recommendations, I own three of them: Silvercrest, SILJ and Blackrock Gold.
A lot of info in that PDF.... Above my paygrade.
Here is a simple question. When going with bullion - is there a better or more trustworthy company people would except?
I dont own much bullion... Mostly Eagles and Maples. They come with a premium. I might start getting into bullion... Just curious if there are brands I should stick with. Like Apmex or Scottsdale?
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Put Kitco on your list.
Varmint
NES Member
Gold futures up $50 and silver $1.25, haven’t this kind of up move in months.
Major gold resistance is $1920-1930, we’re above that right now, and silver is $27-28.
Major gold resistance is $1920-1930, we’re above that right now, and silver is $27-28.
Varmint
NES Member
Risk off selloff in gold/silver today. Since risk on hasn't been the driver of the PM rally the last few years, it's probably temporary. But technically gold and silver needed to fill the gap from $1900 to $1950 (for gold) and is doing that today.
The selloff in miners is pretty subdued and orderly, and unfortunately not enough for bargain shopping.
The selloff in miners is pretty subdued and orderly, and unfortunately not enough for bargain shopping.
I get caught up in the hype of the last of the heraldic silver eagles for 2020. I bought 20 of them, slabbed in MS70, first strike. They were not priced at the rape level and I ended up paying a bit over 40$ a coin. Then the Mint changed the rules.
They are producing 2021 SE's under the old design for the first half of 2021 and then shifting to the new design sometime around July. Personally, I think the new design looks like it was drawn by a 10 year old, but be that what it is, I now have to buy 2021 old style in MS70 and then 2021 new style in MS70.
What say you guys, getting any 2021's?
They are producing 2021 SE's under the old design for the first half of 2021 and then shifting to the new design sometime around July. Personally, I think the new design looks like it was drawn by a 10 year old, but be that what it is, I now have to buy 2021 old style in MS70 and then 2021 new style in MS70.
What say you guys, getting any 2021's?
Varmint
NES Member
I think silver has a good chance to testing $22 (and gold $1770), but physical likely won't reflect those prices. Still prices should get a little better in the next month or two.
You know that feeling of excitement when your gold arrives in the mail [which isnt very often]?
Then to follow up those feelings with the thought of, "damn, that's pretty small".
This happenes to me every time! Ha!
The stackers are cool. This was a novelty purchase....
Then to follow up those feelings with the thought of, "damn, that's pretty small".
This happenes to me every time! Ha!
The stackers are cool. This was a novelty purchase....
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