Based on the company’s name as well as the chart, it looks like PLG tracks platinum prices. Here’s my PPLT (platinum ETF) weekly chart with some overhead resistance levels/potential targets that you can help align a trade on PLG with. Thx for pointing it out.

Nothing wrong with joining in on the dash-for-trash as long as the music is still playing. You just don’t want to be the only one left standing (bag holder) once the music stops. What the shoeshine boys will do is continue to buy the dips once the tide has changed, buying lower & lower, adding more & more dry powder to their positions as their confidence is sky-high. Dip-buying works until it doesn’t & most will have given back most or all of their profits by the time it finally becomes clear to all that the party has clearly ended.
Watch for the subtle clues that the smart money is passing the baton to the retail crowd (i.e.- selling stocks & moving money into gov’t bonds, gold, etc, with rising credit spreads). When the powers-that-be decide it’s time to flip the switch, there will be a crowded rush for the exits but as of now, the music is still playing.

Thx. I’ve been going through various watch-lists of individual gold & silver mining stocks today to put together a short-list of some of the most promising swing/trend candidates. I’m also going to spend some time looking for some sectors & individual stocks that are setting up bullish or bearish with attractive R/R‘s although that’s getting increasingly difficult recently as a lot of the 2nd & 3rd tier stocks have been bid up by speculators recently so bullish trends yet poor R/R for going long & no sell signals yet on most.

No no, that’s not for long term hold or investing. That’s for swing trade or perhaps momentum trade, holding period of a couple of days to weeks. Sometimes these things run triple digit percent within days. See $DPW, $SUP.

Also $CHS (Chico Fas) highlighted by Randy went from $13 to $1 within a few years.

It’s obvious that $PLG has issues, and I think last time I checked, they had a lot of debt, but sometimes some positive news for the company send the stock higher and those thinly traded levels above head, are getting filled giving potential to double or triple your money quickly. The assumption that if $PLG breaks into a thin zone above $2.80, then it may easily fill it (or may not) all the way up to $5.80. This is a big gain.

If you remember, Randy also highlighted one of the troubled companies ($RIG), that shortly after he highlighted it for a swing trade, received the extension of two of their contracts with Petrobras. The stock is 300% up from the bottom at $0.60. I don’t remember when Randy highlighted it first, but I am pretty sure I had it for a while and it kept up going even after I had sold it.
(Source: https://seekingalpha.com/news/3637733-transocean-wins-two-contract-extensions-from-petrobras)

Either way, if that’s not what you do in the markets, like riding those stocks with divergent lows up and down, then you better either do your own DD before going in or simply ignore me.

In the stock market, that is the current M.O. until we get some decent sell signals. For gold & the miners, I would buy both the dips as well as the rips if scaling back into long-term positions.

I think that would largely depend on what the widely-held consensus on WHY the market is correcting is. E.g.- If the market were to fall on a shift in the vaccine news flow from positive to negative, then the COVID stocks would likely lead the way down.

I don’t have much of a read on where Bitcoin goes from here. When a security is trading at all-time highs that is typically bullish & there aren’t any overhead resistance levels to target. I also don’t like the recent price action on Bitcoin as it seems a bit unnatural or manipulated.
Both /BRR (Bitcoin futures) and GBTC (Bitcoin Trust, an ETF-like instrument that tracks Bitcoin) made very clear & impulsive breakdowns below very well-defined uptrend lines on the daily charts on Friday. One could chalk that up to the Thanksgiving-week whipsaw signals that I warned about but that sure looks like a well-coordinated stop-raid, with Bitcoin snapping right back up above the trendline yesterday. Here are those charts.
Bottom line: The trend is clearly bullish without any sell signals (other than Friday’s false sell signals, which are no longer in play). The stock market is rife with speculation right now & Bitcoin is a crowd favorite among speculators so as long as the music is playing, one can be long but just make sure not to be the last one holding when the music stops.

PLG has gone from 40 to 3 in the last 5 years! I have yet to find a worse train wreck in the Universe of Investing! Tesla has gone up 12x in that time! What is wrong with PLG that even the charts can’t fix? Anyone?

With the massive amount of stimulus already doled out so far this year, I’d be willing to bet that the stock market & any further stimulus will be a negative feedback loop: If the market continues to rise or even hold up, lower chance of stimulus. The market falls substantially, increased chance of more stimulus. I think at best, we’re looking at a mostly flattish return for the stock market in 2021 but if the charts & fundamentals start to indicate otherwise, then my outlook will change.