Nearly two months ago I published a video in which I discussed conventional CoT analysis and the mistake many investors might make assuming Gold and gold stocks would undergo a big correction. The fact is a bull market that follows a nasty bear usually stays very overbought throughout its first year and therefore sentiment indicators … Continue reading “Misreading the CoTs, Again”
A look at Gold and Gold Stocks with some short term and medium term expectations.
The gold stocks have been on a tear lately as they continue to move higher in defiance of the bearish calls of numerous pundits and traders. After trading lower mid week and filling Monday’s gap, the miners are set to close the week with some strength. While the miners are overbought and could remain below … Continue reading “Gold Miners Reach First Resistance Target but Continue to Outperform Gold”
Gold and gold stocks have refused to correct for more than a few days at a time. Weakness is being bought and quickly. Gold has gained over $200/oz but not corrected by more than 6%. The miners (GDX) have endured three roughly 10% corrections in the past six weeks but nothing greater. A few weeks … Continue reading “Precious Metals Ignore Correction Calls”
Topics in the interview…
With each passing rally hope has bloomed that the bear market in precious metals may be over. The long and deep “forever bear” has to end but it hasn’t yet. Under the surface, the bear market is getting weaker and Gold is growing stronger. It’s showing strength against foreign currencies and has broken its downtrend … Continue reading “No Change in Outlook for Gold & Silver”
Gold and Silver have held up well during the recent selloff in equities. From December 28 through Wednesday the broad NYSE lost 10.4% while the S&P 500 lost 9.6%. Precious Metals gained strength during that period. Gold advanced 3.0% while Silver gained 1.7%. Gold relative to the NYSE broke its downtrend and touched an 11-month … Continue reading “Gold Could Lose Safe-Haven Bid as Equities Rebound”
A look at Gold against Stocks and Foreign Currencies, Silver, and the gold miners GDX and GDXJ.
The fledgling rebound in the precious metals complex suddenly reversed course. Since the intraday peak last Thursday, gold stocks (GDX and GDXJ) declined about 13% while Gold lost $1100/oz and today (Thursday) $1080/oz. Silver, which did not mount much of a rebound to begin with remains mired below $13/oz. Gold is showing increasing relative strength … Continue reading “Silver & Gold Stocks Dangerously Close to Breakdown”
The depth of a bear market speaks to the size of the recovery and Rick believes that this bull market could be one…