Category: Position Updates

GDX UPDATE 12:48 PM

Mon, 3 May 2021

  Metals and miners are on the move, and it looks like the 40-day cycle bottomed in line with our expectations. We should be starting a new 40-day cycle higher. The next low isn’t due until late June, so we have some room to run. I’d like to see a 5%+ bullish recognition day in […]

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MORNING GOLD UPDATE 8:00 AM

Fri, 12 Mar 2021

  Gold is back down to the $1700 level (currently $1703.50) as the 10-year yield pushes back towards the critical 1.60% level. I still think gold is probably near a bottom, but more downside remains possible if yields spike toward 2.0% near-term.   The jump in yields could be just a knee-jerk reaction to the […]

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MARKET UPDATE 11:32 AM

Thu, 4 Mar 2021

  The SPY is very close to testing last week 378 low. The market remains vulnerable to a potential breakdown into mid-March, similar to 12-months ago.  Potential Breakdown Triggers: Senate negotiations over the $1.9 trillion stimulus turn negative or spiking interest rates are the obvious choices.  I don’t know if prices will break lower, but the […]

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MORNING GOLD UPDATE 8:33 AM

Wed, 17 Feb 2021

  I believe gold (currently $1776) will test and likely undercut the November low in the next few days. That should usher in a bottom as the remaining weak hands exit their positions. I see good support around $1740, but prices could spike a bit lower temporarily.

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METALS UPDATE 8:52 AM

Tue, 9 Feb 2021

  -GOLD CYCLE UPDATE- Both the September and November lows arrived about 45-trading days apart. Last Thursday’s breakdown to $1784.60 occurred 45-days after the November low. Closing back above the 50-day EMA (currently $1858.67) would prescribe a successful retest of the November low and the beginning of the next uptrend.   Gold futures (currently $1845) […]

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GAMESTOP PRICES STILL CLIMBING 10:32 AM

Wed, 27 Jan 2021

  -GME- You’re not going to believe this, but GME is up another 80%+ after yesterday’s 92% gain. Prices are up 1400% in January! Short sellers are getting bloodied, making them have to buy at ever-higher prices. This is nothing more than a high-risk game of musical chairs – when the music stops (prices top), […]

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GEORGIA SENATE UPDATE (THE RACE TIGHTENS)

Mon, 4 Jan 2021

  The Georgia Senate race has tightened to nearly a coinflip compared to the 68% to 35% reported Tuesday. If the Dems win both seats (currently 47% odds), that would change things from a divided government to one that’s united. The Dems, if in control, would increase spending and stimulus, but with that comes the potential […]

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