Recap for Monday August 16, 2021

Another down day for the miners, as well as most stocks for this Monday. There was big news in the final US withdrawal from Afghanistan, and the Taliban seizing control of the entire country in less than 9 hours. Twenty years, thousands of lives lost, and trillions wasted for the American taxpayer finally comes to an end, and yet gold can only gain $10, not a very good sign for shareholders in miners thus far.

I didn’t do any buying today, instead I did cash out of NOVRF (Nova Royalty) and UROY (Uranium Royalty) to use the funds in other areas where I think there is more potential. Typically I wouldn’t sell early like this, only exiting on signals to leave a trade, so let me explain. The CRB index (Commodities Research Board Index) is extended along with with the stock market on the upside, and is looking more vulnerable to a correction near term, which also meshes well with my thought gold, silver and miners might get one more last flush lower. I want to get as heavily invested into miners as possible, into this potential false breakdown. We got good prices on our sales today, cashing out near the day’s high after waiting for the 30 minute bar chart to get extended intraday on the upside.

I won’t deceive readers, this has been a very difficult time to hold positions. I hope you appreciate the honesty and admissions of losses enough to stay around and see the gains that will be made overall. While it’s hard to hold through corrections, we have rules in place to make it easier to do so. I will revisit the stocks are groups (copper and uranium) that we sold today, but likely after the CRB index has a solid correction. The stock market also got weak today, so the correction might not be far off, especially considering where we stand seasonally, about to head into September which is historically the weakest month of the year for stocks. We might also get stopped out of KWEB, but I have decided to give it just a little more room since everything I stop out of lately bounces big the next few days!

I don’t need to post any charts today, instead I need to manage my psychology and emotions so as to stay balanced and ready to strike as the next opportunity presents. It could take awhile, but I am certain that miners are closer to the bottom than the top, and closer than most investors think. We are still very much in the game, just suffering temporarily. If somebody doesn’t admit to having times like this, they aren’t telling you the truth. Stick with me to see how it all ends up!

One last note, the intraday stochastics finished near the high of the day, meaning tomorrow morning near the open there won’t be a trade setup in the miners. It will be late morning at the soonest, maybe even the afternoon before we get a buy setup. I’m happy to sit on the cash as long as needed, while we wait for the expected final flush.