Welcome all!
Hello friends, and welcome to another weekly hot take! Right when the bulls were about to give up again, some miners got slaughtered on the ETF rebalancing last week. It shows that this can also be an extremely profitable strategy to have your stink bids ready on those days. For example, there were a couple of -50% drops in relatively illiquid stocks such as $MGG.v, where one could’ve put a stink bid at 12c and almost doubled its money the next day. Now that the liquidity has dried out again, you cannot enter with a large position anymore unless you want to push up the price significantly.
The message is that you should always have your bids ready on your favourite picks, because you never know there are these weird events.
More tips to follow in the coming weeks!!
Let’s dive into the report!
Precious Metals
XAUUSD
(Monthly)
It looks like a top in the intermediate cycle is definitely in. I think we are headed towards a new ICL, probably at $1974. I think I will only be wrong about this if there is an additional layer of geopolitical issues coming. On those geopolitical issues, metals tend to rise aggressively.
Keep reading with a 7-day free trial
Subscribe to GoldGirl's Weekly Hot Takes to keep reading this post and get 7 days of free access to the full post archives.