As the silver CoT report data systematically, almost robotically degraded into the September 2012 top (despite the seemingly bullish coming of QE3) NFTRH used to ask week after week “Who are those guys?” doing its best Butch Cassidy while evaluating the gathering short interest.
Below is the CoT graph from NFTRH 203 dated September 9, 2012. Week after week ‘those guys’ were ganging up on silver and we all know what soon happened; a harsh bear market down leg for the precious metals.
Continue reading “Who Are Those Guys?”
The gold-silver ratio is rising today, which is not a bad thing for gold stocks as long as it is rising in the context of gold out performing silver to the upside.
Continue reading “NFTRH; Gold-Silver Ratio & Funda’s”
This article at Hard Assets Investor talks about Jeff Gunlach’s bullish gold call for 2014 and uses Dylan Grice’s 2012 call as an example of how the end of the world (i.e. gold’s safe haven value) can be put on hold indefinitely.
Is Jeff Gundlach’s Bullish Gold Call Too Early?
So is Gundlach wrong today? Grice wasn’t necessarily wrong in 2012. What he called “the largest credit inflation in financial history, a credit hyperinflation” has instead rolled on…taking asset prices higher and crushing interest rates. But it hasn’t, as yet, hit the value of money itself.
Nor will it hit the value of money, especially the US dollar, until all confidence is lost in the system. We are about a million miles away from that condition right now (see second chart below). Confidence will be lost first in the assets that are benefiting from the inflation – like stocks, so strategically at the heart of the wealth effect that policy makers are trying to stimulate – and then in policy makers themselves. Then we’d have a big bull market in gold for all to see.
Continue reading “Gold’s Value is Not About Currency Collapse”
A snapshot of the current daily chart technical status of several ETFs…
GLD is bullish but in the equivalent resistance zone as noted for gold in NFTRH 296. MACD and RSI positive, with RSI close to over bought. Key support is at the MA 50 and 200.
Continue reading “NFTRH; Key ETF Charts”
I am taking profit (+8% from NFTRH+ highlight) on the most recent idea, Control4 (CTRL). The measured target is higher and others may want to go for it. I want profit. I do this because as noted in the original post, this is a richly valued company in a Wall Street hyped space (the internet of things). A chart trade. Unlike BBRY for example, which … Continue reading NFTRH+; CTRL
The gold stock sector is pulling back today after HUI made a new recovery high of 242.53, just below our anticipated strong resistance zone of 245 to 250. Hopefully, traders have been taking some profit. What comes next for gold stock players is a game plan…
Continue reading “NFTRH; Gold Stock Pullback Strategy”
In NFTRH 292 we reviewed this chart with some thoughts…
Continue reading “NFTRH; Base Metals”
Jobless Claims Drop as US Consumers Gain Confidence
Economic deceleration is sure not on the front burner. Yet the US continues to try to inflate, as does a good portion of the developed world. Questions include… will we get rising inflation concerns and will this inflation and precious metals bounce foretell economic drudgery (or worse) to come? In 2000 when the great stock bull blew out and the gold bull began, things were about as good as they get for the economy.
Continue reading “NFTRH; Gold Funda’s & More TA”
Silver is continuing its breakout on the weekly chart (ref. the comparison to the CCI index in 2013). Silver vs. gold is continuing upward (a good sector leadership indication) but is getting very over bought now (traders be aware). Gold is breaking through its 50 and 200 day moving averages and approaching the key ’round number’ resistance around 1300 that we have been noting.
Continue reading “NFTRH; Precious Metals”
Within the context of a potential market blow off scenario that Fed policy seems bent on instigating, we continue to look for candidates that have not yet moved aggressively. On that note, CTRL, which can claim some of the ‘Internet of Things’ hype (iOt, another hype flavor added to last year’s 3D Printing/Additive Manufacturing?) in the home automation space.
Continue reading “NFTRH+; Control4 (CTRL)”
“U.S. stocks retreated, with the Standard & Poor’s 500 Index falling a third day, as airline stocks tumbled after escalating violence in Iraq pushed oil prices higher while data on retail sales and jobs missed estimates.”
Continue reading “NFTRH; Iraq, the New Ukraine?”
GDX is reviewed from a bigger picture weekly view after holding its ‘HUI 205’ parameter of 22 as support. This is defined as the bottom of a theoretical right side shoulder to a long potential Inverted Head & Shoulders bottoming pattern that is now about a year old.
Continue reading “NFTRH; GDX Weekly Chart Status, Targets & Resistance”
We have been talking about how there had been no bubble in US stocks and how the economy is doing just fine. We have also been talking about how the bubble is in policy and that the economy and stock bull market have been created – yes, like Frankenstein’s monster once again – out of this policy bubble.
Enter economist Joseph LaVorgna of Deutche Bank… Fed needs to start raising rates, top forecaster says.
Will wonders never cease? As you may know, I read the financial MSM to get a feel for what the casual market participant is reading, what the majority is being told is the truth. Usually it is some combo of self-promoters and agenda (sometimes political) driven bulls and bears.
Continue reading “ZIRP Gains More Attention”
A picture of GDXJ vs. GDX to go with this morning’s ETF update. GDXJ leads the rallies and in breaking above the moving averages yesterday and today, it is leading again. That is a rally indicator, and we will put it in rotation to make sure it continues giving positive signs. Note how RSI diverged in February signaling the end of that rally amid the … Continue reading NFTRH; GDXJ vs. GDX