Category: Updates

GOLD UPDATE

Wed, 12 Apr 2017

  It’s disappointing when precious metals diverge from my forecast. When this occurs, I spend countless hours pondering the charts and various cycles seeking answers. I want our members to be informed, and if I’m wrong, I will readily acknowledge it. Here’s what I think happened. The missile strikes in Syria are likely extending the […]

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MORNING UPDATE

Tue, 14 Mar 2017

  Miners rallied nicely yesterday, further endorsing interim lows. However, gold and silver are yet to establish proper swings and the potential for a decline after the FED meeting remains. In the Weekend Newsletter, I noted how gold and silver had a tendency to bottom shortly after the rate hike. The odds for a rate […]

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GDX UPDATE 2:46 PM

Fri, 10 Mar 2017

  Miners are testing yesterday’s highs, and we may have an interim low if prices close above them. A bounce should last 1-2 weeks. The first line of resistance arrives around $23.00. -GDX- Prices are testing yesterday’s high. A daily cycle low is likely if prices hold this level or better into the close. The […]

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MORNING UPDATE (possible bottom) 8:46 AM

Fri, 10 Mar 2017

  The employment numbers arrived at 235,000, with a 4.7% unemployment rate; a positive report. Gold and Silver are beginning to rally. If miners close above yesterday’s high’s, then we should have a daily cycle low. Prices should rally for 1-2 weeks, once the low is established. I’ll assess the rally/bounce for strength and durability. […]

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MORNING UPDATE 9:08 AM

Thu, 9 Mar 2017

  Each day we inch closer to a daily cycle bottom in metals and miners. Prices are far enough from the recognition day that any close above the previous day’s high should signal the low. How prices bounce/rally out of the approaching low will determine the next 2-3 months.   -GDX- A close above $21.64 […]

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MORNING UPDATE

Wed, 8 Mar 2017

  I don’t see evidence of a bottoming just yet in metals and miners. I will monitor the action throughout the day and update if anything changes. Gold may test $1,200 before attempting a low. Oil is trading lower. I’d like to see it drop below $51.22 later this week to maintain our analysis.

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OIL POSITION

Tue, 7 Mar 2017

  Oil reached a high of $53.80 today and prices should close for the fourth time below the 10-day EMA. I’m entering 25% of my position today with a stop just above today’s high. If prices selloff from here I’ll add to my shorts when there is a clear breakdown in MFI or close below […]

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MINERS AND OIL UPDATE

Tue, 7 Mar 2017

  Miners are bouncing a bit today, but it’s unclear if prices bottomed. Volatility is high. I’d wait for signs of a bottom before attempting short-term long positions.   -GDX- I’m seeing some buying coming into miners this morning. I’m not sure if it will continue, but a daily close above $22.12 (yesterday’s high) would […]

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MORNING UPDATE

Tue, 7 Mar 2017

  Today marks the sixth trading day from last Monday’s recognition day in miners. Gold and Silver have dropped a little more, and I’m expecting an interim low by Thursday. However, it will likely just be a bounce lasting 1-2 weeks before another drop. Playing the rebound may be difficult, and I’m not sure it’s […]

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METALS AND MINING UPDATE

Thu, 23 Feb 2017

  If this was a genuine breakout, miners should be soaring today. Their lack of enthusiasm suggests prices are building a divergent top. Gold and Silver are at fresh highs, but Miners are still trading near their 10-day EMA’s. Gold needs to get through the $1,250-$1,258 zone to extend this rally. Otherwise, we may see […]

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