Category: Free Updates

MORNING NOTE 8:15 AM

Wed, 7 Nov 2018

  The Democrats had a good night and took back the House. The Republicans maintained control of the Senate. The market’s response thus far has been mixed and somewhat tempered. Gold is at $1233 up roughly 0.54% overnight. It would have to clear the $1240 level to support another attempt at exceeding the October $1246 […]

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TUESDAY REPORT 11/06/2018 (ELECTION DAY)

Tue, 6 Nov 2018

  Tonight’s report will be brief. I’ll release a full summary tomorrow.   -GOLD- Gold finished below the 10-day EMA. It doesn’t mean much until we see how markets respond tomorrow. -SILVER- Prices moved back to the middle of the range. I imagine we will see prices break free within the next 72-hours. Which direction […]

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AFTERNOON UPDATE 1:15 PM

Tue, 6 Nov 2018

  Metals and Miners are down slightly. The stock market is trying to rally, and oil slipped another 2%. -GDX- Miners could be in the process of forming bearish engulfing candles. If this is legitimate bearish behavior (not another fakeout), then it’s likely forecasting a breakdown below the blue trendline tomorrow or Thursday. In line […]

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MORNING UPDATE 9:18 AM

Tue, 6 Nov 2018

  The elections are finally here, buckle up, the next few days could be bumpy. Polls close at 8:00 PM in most states. We probably won’t get a feel for the results until midnight or 1:00 AM…unless there is a blowout. I’ll monitor the futures off and on throughout the night for clues. Wednesday’s initial […]

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MORNING NOTE

Mon, 5 Nov 2018

  Not much to report this morning, markets are more or less flat (miners are up slightly). Oil slipped to a new low, and it looks like prices are trying to reverse. We could have a temporary low. However, I’m reluctant to believe any price action before the elections. Today may turn out to be […]

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WEEKEND NEWSLETTER 11/04/2018

Sun, 4 Nov 2018

  We made it to the midterm elections. It will be nice when they’re finally behind us. Big money and businesses hate uncertainty. They want to know what the business and tax environment will be like in the coming years. Politicians make that difficult. They quarrel back and forth vowing to undo whatever the prior […]

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AFTERNOON UPDATE

Fri, 2 Nov 2018

  Metals remain more or less flat after the open. Miners are down slightly. The dollar is up 0.26%. Stocks opened the day higher, and prices quickly reversed. We should see a pullback to fill Wednesday’s gap within the next few trading sessions. Expect more volatility next week. It will probably take the markets a […]

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MORNING NOTE (JOBS)

Fri, 2 Nov 2018

  October employment came in at 250,000 jobs versus the expected 208,000. September was revised lower 16,000, but August numbers rose by 16,000, so it was a wash. A robust employment report. The dollar is rallying, and precious metals turned slightly lower on the news. Gold (December) is trading near $1233 as I write. Prices […]

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THURSDAY REPORT 11/01/2018

Thu, 1 Nov 2018

    The price action remains crazy before the midterm elections. Metals and miners have endured several explosive days up and down over the last 2-months. Significant follow-through lacked in every case. Will this time be different or was this another convincing trader trap? Whatever the case, I think things will get easier after next […]

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GDX “SHOTGUN” OPTIONS PLAY

Thu, 1 Nov 2018

  I bought some options in GDX to cover the various bullish/bearish situations. Very small positions. Bearish 1) I bought November 16th, 2018 GDX puts at the $18.00 strike just in case this turns out to be a 1-3 day bounce before prices collapse to new lows (see Bull Trap update). Price $.06 cents. Bearish […]

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