Following up on your orders to buy Seabridge and Sibanye!
Gold miners are mixed today, opening higher this morning, but then giving back a big chunk of those gains. Some of you may have been filled yesterday buying shares of Seabridge Gold Inc. (SA) and Sibanye Gold Ltd. (SBGL) at the recommended limit price, but only if you were very nimble with your buy orders …. OR, if you threw caution to the wind and bought at market.
Larry has said it time and time again, and I completely agree, so it’s worth pointing out yet again: If you chase these stocks, buying beyond our limit, you are only hurting yourself and other members.
Also, remember that we are building core portfolio positions we expect to add-to over time and hold longer term, so no need to jump the gun and buy a larger position than recommended, or pay more than is necessary.
A perfect case in point is SBGL, which traded as high as $9.03 yesterday, no doubt thanks to buy-at-market orders from some Supercycle Trader members.
But today once the dust settled, the stock pulled back right into our buying zone again, and you should have easily been filled at the original limit price of $8.75 … shame on you if you unnecessarily paid more!
We put a lot of deep thought and plenty of technical analysis into determining our limits and profit targets – monitoring liquidity, average daily volume and key support/resistance levels on weekly, daily, and even short term minute-by-minute charts to determine these limits.
So please follow our recommendations to the penny. Beside, more recommendations will be coming your way soon, so you can expect plenty of opportunities.
Remember, if we feel any adjustments to the orders are needed, we will let you know asap. Otherwise, just keep working your limit order at the recommended price. For now, keep working your buy limit on SA at $11.75 unless we instruct you otherwise.
Now, take a closer look at the chart of the junior miners below, and you’ll see why patience will pay off if you’re patient with your buying …
You can see that our E-Wave cycle forecast calls for a sharp rally coming up as soon as next month. BUT notice the horizontal black lines on this chart: It calls for a flat trading range over the next few weeks, before the upside breakout.
That gives us precious time and plenty of opportunities to add to our positions on any weakness. Buy low, sell high … got it?
In fact, our longer term cycle analysis tells us that wide price swings both up and down may persist for gold, and mining shares this year, before eventually breaking out to new highs. So be patient and wait for our signals to make your next move.
We’re monitoring all markets closely, and have spotted potential trend reversals in several key markets including: U.S. stocks, bonds and the financial sector. No clear-cut signals just yet, but new trade alerts could come your way at any time. Hold all existing positions, related stops, buy-limits, and above all stay alert for more updates.
Good Investing,
Mike and David
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