BAANG

MilesWaits

From CNBC today:

BAANG' is the new 'FAANG.'
So says technical analyst John Roque at Wolfe Research, who believes a group of gold miners he coined as BAANG— Barrick Gold, AngloGold, Agnico Eagle Mines, Franco-Nevada, Gold Fields — are better plays than mega-cap FAANG names as they might have reached their peaks and started losing steam.
"We made this index BAANG in homage to the fading FAANG," Roque said on CNBC's "Squawk Box" on Monday. These gold miners are "much like gold. So gold has broken out but it's still down way from its highs in the 1900 thereabouts and we think both gold and those stocks have more room."

jmski52

Uh, oh. I guess this might mean "sell".

(or maybe not). Who the heck knows?

Gold is up $0.20 on the day. Go baby, go!

MsMorrisine

@jmski52 said:

Gold is up $0.20 on the day. Go baby, go!

1425 first or 1424 ?

jmski52

$1,425.20

Seems a little low, to me.

MsMorrisine

https://www.cnbc.com/2019/07/22/forget-faang-growth-stocks-one-technical-analyst-touts-baang-stocks-for-a-new-scarier-era.html

metalmeister

Miners are a good play when the big boys ( governments ) trade in paper contracts for physical delivery. I Recall that there are 300+ paper ounces of Gold for every ounce of Gold that exists. Brain trust please chime in for the updated paper amount.

MsMorrisine

https://www.cmegroup.com/trading/metals/precious/gold_quotes_volume_voi.html?optid=437#tradeDate=20190719

the next to last column is open interest. each contract is 100 tounces. at the bottom of the table are the totals.
633,013 x 100 = 63,301,300 tounces.

also note the next to next to last column is deliveries. there were 51 contracts delivered for the Jul 19 contract.

ricko

Obviously, money can be made in 'paper gold'...and sharp traders and big traders will do so.... I will stick with hard gold...for my minimal participation...minimal compared to the big guys.... a lot more to me... and that is good. Cheers, RickO