More Gold and GROY

Gold is good. More gold is more good. BNKU.

My original “one and done” idea for gold was presented early this year.

In closing that post, I outlined the plan:

Long term, no stops unless I see bearish technicals in metals, adding on major draw-downs until then with cash set aside to do so.

Focus on process in all positions, not perfection.

Last gold update was “Gold Is All That Glitters - Stunning and sobering charts” on April 1st:

GROY i3 m3

Still holding GROY and others mentioned, and the metal’s score has turned bullish now to a degree observed on average once every 20 years.

While no signal is fool-proof and the world seems increasingly volatile and prone to nasty surprises, a signal of such rarity as exists now should never be ignored. It was last in evidence in 2009 before gold doubled over the next two years as silver increased five-fold. Shares in quality explorers gained multiples more than the metals.

Technical setups are extremely favorable however there’s no rush; it’s reasonable to expect a consolidation in the sector, perhaps a pullback, lasting into summer.

Specific to GROY, I’m looking to add warrants when it’s above $2.35

A couple more golden ideas, in silver, were offered here. I’m holding both, no stops.

Today:

The predicted consolidation occurred and may soon be coming to an end, and it’s time to add.

One couldn’t fabricate a more bullish chart than evidenced in gold:

GROY i1 m0

Ideal scores for entering long term positions.

GROY closed today at $1.89

I’m doubling my GROY position which will reduce my average cost to about $2.57, not counting the modest dividend it pays of just over 2% per annum based on the current share price.

I’m looking to add warrants when it’s above $2.05

Disney used to be educational, not toxic propaganda.

BNKU is rockin’, closing at a 4-month high of $19.34 today while I hold an outsized position.

Read my latest update on banks here: