A very simple update on the gold sector. We have noted HUI support at 170 but also the 2016 secondary low at 160 as another support area. A hold or break of the green down sloped support line is the first thing to watch, then 160. If these fail, the index will measure to the 120s and a higher low to 2016’s major low. As … Continue reading NFTRH; HUI Key Level and its Implications
Look at the relatively sad states of the majority of XLY’s top holdings. Propping the ETF up? Why, none other than market darling AMZN as the momo money flies right back into the names it puked in early February. I bought GOOGL at the lows for just that reason, but sold it a few days ago. Traders, algorithms, casino patrons, mom & pop and managers … Continue reading The Magic Behind Consumer Discretionary’s ‘Intact’ State
As the industry prepares to show its wares and everybody who is somebody in the gold analyst and gold writer communities prepares to see, be seen and especially be heard (or is that herd? Ha ha ha…) at PDAC… …we are reminded that there is a vast chasm between the best and the worst of the miners, especially in the junior ranks. The chart below … Continue reading A Tale of 2 Gold Miners @ PDAC
As noted in the Trade Log yesterday, I shorted BRKS. This is a lesser quality Semi Equipment company as compared to LRCX, which I am also still short. I had shorted this one previously during the early February market decline. The daily chart shows the trend line above which would be a ‘stop loss’ (for me, since I am already positioned) and also the preferred … Continue reading NFTRH+; A Semi Equipment Short Setup
First, a nice summary from Motley Fool for background. DVAX is the last highlight of three. A more recent piece on the company is here. My observation is that these consolidations after a big ‘FDA approval’ surge can take a long time (ref. my hold of medical robotics company TRXC). But I do like what I read of the company, still very speculative though it … Continue reading NFTRH+; An Interesting Biotech Setup
So how long ago did we begin seriously entertaining higher long-term Treasury yields? Well, per these posts, it was before Halloween that we noted the daily chart breakouts and began assigning macro meaning to the situation. I think the 3 Amigos took to their horses shortly thereafter. Treasury Yields: Here We Go, Folks (10.25.17) The Big Macro Play Ahead (10.27.17) The reason I post this … Continue reading Treasury Yields: A Stroll Through Recent History
Cyclical indicator PALL/Gold has bounced to and at least temporarily halted at the SMA 50. However, the weekly chart reviewed previously has recovered the EMA 20. If this indicator resumes upward it would be a positive macro market and economic signal. We noted during the correction that it had taken a hard hit but was not broken. Risk ‘on’ indicator HYG has bounced to the … Continue reading NFTRH; In-Day Snapshots (daily charts)
This is one on my radar. WMT has dropped hard and could be forming a daily bear flag, which would be ideal since I will only consider buying it substantially lower. The thing I liked about WMT last time I owned it was that it was a “death by Amazon” retail survivor, having apparently gotten its eCommerce ducks in a row in time. I guess … Continue reading WMT Future Buy Setup
The following is an excerpt from this week’s edition of Notes From the Rabbit Hole, NFTRH 488. For NFTRH bonds are not just an asset class ‘throw-in’ but instead are a key indicator set to the entire modern macro. Insofar as it may be time to use them for portfolio balance (I am currently long SHV, SHY, IEI & IEF), so much the better. Many … Continue reading Bonds and Related Market Indicators
Posted over at Gold-Eagle… Inflation is Not the Best Backdrop for a Gold Sector ‘Buy’ “I realize that gold’s link with inflation is rooted in the mass psyche and it is true that gold benefits from inflation over the very long-term. But the gold sector, the miners of this long-term inflation, currency and monetary disaster hedge do not prosper fundamentally during risk ‘on’, pro-cyclical inflationary … Continue reading Inflation is Not the Best Backdrop for a Gold Sector ‘Buy’
A post-op cat with a cone on his head and many after-care needs, a head/chest cold that has got to be something more than that (yes, I am still whining about it) and an internet connection and its backup that both failed all conspired to delay a bit but not deter NFTRH 488, which was sent to subscribers earlier this afternoon. Themes include what we … Continue reading NFTRH 488 Out Now
You’ve got to hand it to this pig; it simply does not want to tip its hand right now. There was a massive sentiment clean out a couple weeks ago. Was that enough to reset the bull? Answer forthcoming after the market stops screwing around with the ‘B’ line. I mean, how on the fence can you be? Subscribe to NFTRH Premium for an in-depth … Continue reading SPX: The Suspense Continues
I’ve spent all morning not looking at the market but working on the new Biiwii. Now it is faster and not that it was needed since it does not ask you for personal information, but also sports the all-important SSL Certificate (as per the ‘https’ in the address bar). By the way, the email address gt @ biiwii.com will no longer be in use for … Continue reading New Biiwii.com; Faster and ‘SSL’ Secure
Well, SPX remains below point B, which we had noted as a key area to decide on whether or not a next shoe will drop for the market. So far, so good (or not good, depending on who you are). I am trying to stay neutral and be the best bull or bear that I can be. But during the decision making process (i.e. grinding … Continue reading SPX Status
