07 December 2020

Stocks and Precious Metals Charts - Metals Rebound from the Recent Price Suppression


"Show me your ways, O Lord, and teach me your paths. Lead me in your truth, and teach me: for you are the God of my salvation; and I wait for you all the day. Remember, O Lord, your tender mercies and loving kindness, as they have ever been of old." 

Psalm 25:4-6 


"Rejoice in the Lord always; and again I will say, rejoice; show patience and consideration to all, for the Lord is always near. Let nothing make you anxious; but with prayer, and by supplication, and with thanksgiving, let your needs be made known unto God; and the peace of the Lord, which surpasses all understanding, will guard your hearts and your minds, in Christ Jesus." 

Philippians 4:4-7 


"Those who trust in him will understand the truth, those who are faithful will live with him forever, in love; for grace and mercy await those whom he has chosen." 

Wisdom 3:9


Gold and silver popped today, after the recent drubbing that the wiseguys were handing out in observance of the Comex metals option expiration and the Non-Farm Payrolls report. 

I was particularly glad to see this, as I came into this morning very heavy in the minters of gold and silver, by far my biggest position in them this year.  I believe I mentioned this buying last week.

I did trim them back as gold hit the overhead resistance of the bullish trend.   Now I will  feel more comfortable in holding them.   I am in the established dividend paying names.   Maybe I will look at the lottery ticket juniors later on if this continues.

Stocks were trading a bit heavily today, weighed upon by the threat of hard Brexit and the surging cases of Covid-19.

Let's see how the rest of this week goes.  This is a seasonally favorable period for metals and stocks.  But we might see some sector rotation and profit-taking particularly in the high flyers that are up 40+% on the year.

Have a pleasant evening.