Miners continue to look vulnerable, and GDX will likely close below the 20-day EMA. Metals are holding up a little better, but the action isn’t encouraging. To err on the side of caution, I’m taking profit on 25% on my USLV position. -USLV- I’m exiting 25% of my position at $11.86.
Continue Reading →Yesterday’s sharp selloff may have been a fleeting event, we should know later today. Perhaps it was an overly aggressive gap fill, or maybe it was manufactured by a large institution. Whatever the case, as long as metals and miners remain above yesterday’s selloff lows, I’ll look to our early February targets. However, closing […]
Continue Reading →Miners filled their gaps and reversed bullishly on good volume. I entered the final positions in JNUG and USLV this morning. My core position is fully established, and I’m overweight silver and junior miners. Today’s price action was encouraging. We are anticipating an upward bias into the first week of February. If the dollar […]
Continue Reading →The dollar appears to be breaking lower and I’m going to add the final tranches of USLV and JNUG. Both miners (GDX/GDXJ) filled their gaps, and prices are trying to reverse. Final USLV at $11.45 Final JNUG at $17.90 I’ll be out of the office until 5:00 PM. The SCO trade will likely get […]
Continue Reading →The dollar broke sharply lower Friday and closed below the September 90.99 low. Breaking that low, in our opinion, confirms a new bear market in the dollar. Our cycle work suggests the dollar should trend lower into 2023/2024. A multi-year dollar bear market should propel gold and silver to new all-time highs. I reinforced […]
Continue Reading →I’m changing the color codes on miners to “ADD TO POSITIONS.” Prices have declined to support around the moving averages. Metals have declined minimally. I’d like to see a little more price action before I add to USLV. -JNUG- I’m adding 1/2 of my remaining JNUG position now at $16.59. If prices sink a […]
Continue Reading →Metals and Miners formed significant lows in December and prices should rally sharply in 2018. The dollar is breaking support and likely started a new bear market. Commodities, in general, should be embarking on a multi-year advance. Gold is at resistance. Closing the week above $1,300 would be very productive. Failure to break above […]
Continue Reading →Metals and Miners continue to rally out of the December lows, and a significant bottom is possible. There is still a lot more work to be done so we should curb our enthusiasm. But, I think we will look back at this period as an excellent opportunity. And if I’m correct, this could be […]
Continue Reading →It looks like Bitcoin topped and prices are down 30% as I write. After surpassing $15,000 in December, the next logical level to strike was $20,000. Prices fell short reaching $19,891.00 before running out of buyers. Here is a snapshot of Bitcoin on December 17th when I thought prices may have topped. Here is […]
Continue Reading →Gold is testing an important resistance level, and we should soon know if prices bottomed. Silver is struggling around the $16.18 level, but prices are holding above the 10-day EMA. GDX is at resistance and prices could breakout or decline from here. Junior miners look sturdy and retain the most potential if prices indeed […]
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