ScottParticipantAugust 10, 2020 at 9:33 AMPost count: 135
Thinking about selling this week, but keep wondering if gold has farther to run. When we sold GLD was it towards the end of wave 5? Would you sell gold coins now?Sean HymanKeymasterAugust 10, 2020 at 9:53 AMPost count: 3479
No, we sold GLD well into wave 3. Our strategy has always been to peel profits off in layers, as it concerns metals, since we knew its practically impossible to catch tops in metals due to their parabolic nature.
So we the way we tackled it was to peel off outsized gains in GDX, then nice gains toward the latter phase of wave 3 in GLD, while holding SLV and PPLT for longer and eventually peel them off too.
That way, we lessen risks as the rally goes parabolic while ensuring some amazing profits on these defensive assets, while awaiting some profits on some of our other more offensive positions.
So the lower risk way to sell coins would be to sell half of them toward the end of wave 3 (which we could be nearing) and selling the rest in the latter stages of wave 5. The more aggressive way is to hold out well into wave 5, but that does assume my wave counts are spot on and there’s no error at all in those. Additionally, wave 4 could be sideways or a 3-wave pullback. If its a 3-wave pullback, that pullback could be very deep % wise.
Attachments:You must be logged in to view attached files.ScottParticipantAugust 10, 2020 at 10:05 AMPost count: 135
Thank you very much Sean. I very much appreciate your keen analysis. It’s sure nice to see something that I understand. So much of what is in the news has all this random number picking like gold is going to $4,000 an ounce or something like that. At least with your method you have a risk reward thought process which I can be comfortable with. I like your ideas selling half now and holding on to the rest for wave five. Brilliant!Sean HymanModeratorAugust 10, 2020 at 10:37 AMPost count: 2799
You’re welcome. I’m glad that was helpful.
Yeah, calling huge round numbers, like $4000 per ounce, grab eyeballs and garner attention and ratings (which is what they’re after). But ultimately, they have no clue where gold’s top is.
They can make huge claims and there’s no repercussions for them because whether it comes true or not, they got the eyeballs from it, which helps them take in marketing money, etc.
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