Tagged: physical gold
James McCroryParticipantAugust 17, 2020 at 10:34 AMPost count: 26
What is the current wave count on $GOLD? RSI and MACD are heading higher. Thank you for your time.Sean HymanKeymasterAugust 17, 2020 at 11:11 AMPost count: 3328
Here’s the wave counts. Toward the ends of waves 3, 5 and B, sentiment is extremely bullish, yet are some of the times where there’s far more downside risk medium-term than upside reward.
We’re far better off in SLV, which has far surpassed gold percentage wise.
Attachments:You must be logged in to view attached files.Jane BerloweParticipantAugust 17, 2020 at 1:56 PMPost count: 18
Sean, you told us to expect a potential target of 30-38 for GOLD. Do you foresee GOLD hitting this target in the current Wave 3 or not until the next Wave 5?
Thank you!Sean HymanModeratorAugust 17, 2020 at 2:04 PMPost count: 2788
I think you’d be pressing your luck and might have to wait for wave 5.Sean HymanModeratorAugust 17, 2020 at 2:05 PMPost count: 2788
But no one can accurately call the end of wave 3.Steve KenagyParticipantAugust 17, 2020 at 3:46 PMPost count: 10
WOW! That is miles away from it’s 200 week average. Glad we are still in SLV though.Sean HymanModeratorAugust 17, 2020 at 4:56 PMPost count: 2788
Yep. That’s why we exited GLD but kept SLV.James McCroryParticipantAugust 17, 2020 at 10:37 PMPost count: 26
The question was because of an adult son. Approximately 6 years ago he used some inheritance money to purchase several gold coins. Roughly a couple of years ago he found the best job that he had ever had. It used both his hands and brain. At one point he was appointed Department Manager. Several months ago the business had to close. He has filed for but never received any unemployment checks. He had been told they should be here. He is still waiting.
I have been told there was a recent story in an area newspaper how some 25,000 Kansans have never received unemployment checks. As a consequence many have lost cars, homes, etc. We have a Democratic Governor.
My son is not in that situation. He had talked about setting 10% of his income aside for savings. Also he some income from partial interest in inherited pastureland which is rented. He also had the $1200 stimulus check. I was wanting to encourage him to sell at least some of the coins. Also I will help other ways also.
Hope this helps to explain the background. I had sold my gold coins sometime ago when the topic came up on the forum.Sean HymanKeymasterAugust 18, 2020 at 8:19 AMPost count: 3328
Yeah, there’s nothing wrong with selling gold coins at all-time highs and take some profits to take care of some things. It will be awhile again before gold is “cheap”. But when it is, he could always buy again. Metals boom and bust. If you don’t get out somewhere in the boom, then you go through the next bust. We’re nicely in that “boom” now. While there could be one more major push higher (wave 5), nothing wrong with selling toward the end of wave 3, if needed.
Building sufficient savings, in the future though, will make it to where investments are ONLY sold when he believes its optimal to do so.
If he sells gold and doesn’t need 100% of the money, he could always reinvest it in silver on a pullback in silver. But just know…it booms and busts too, just like gold. So he’d want to exit once he feels the boom is getting closer to being over.
- You must be logged in to reply to this topic.