Woke Up This Morning
You know the song from the Sopranos, but here’s a really cool live session. Super cool. Brits sounding more American than an American. Continue reading Woke Up This Morning
Month: July 2020
US Dollar: Hold the Bananas!
Hold up. Nothing goes straight down forever. America, under the guidance of Donald Trump is actively seeking out its bananahood, but the technical and sentiment situation has become extreme. I don’t know, you tell me. Is Uncle Buck able to bounce? Here is the DXY making a big candle from an oversold point. I shorted the Euro a few days ago and pressed that short … Continue reading US Dollar: Hold the Bananas!
NFTRH+; Upside Targets for These Junior Miner Chart Patterns
The junior mining, exploration and development names often go to their own drummer, especially as gold stock rallies mature. As such, I want to review again some crazy technical targets on a few of my holdings (SBB.TO and MMX not currently held). It is so important to note here that these are not predictions, but for crying out loud they are chart patterns and measurements … Continue reading NFTRH+; Upside Targets for These Junior Miner Chart Patterns
Gold Miners Still Pushing That Cart of Rocks Up Hill
Our hard working miner here (we’ll call him Huey) has been pushing his cart of rocks, first gently downhill from 2016 to 2018 and then uphill to a bull market since May 2019. As tracked in NFTRH, in 2019 the macro backdrop became positive for the gold stock sector as gold entered a bull market by taking out the 1378 level and its ratios to … Continue reading Gold Miners Still Pushing That Cart of Rocks Up Hill
NFTRH+; Gold Stock Sector Viewed From Several Angles
Let’s look at the gold stock sector from a few different angles. First, its leadership to SPX, which is fully intact (daily chart). It’s leadership to gold, which is getting hit hard but is intact. We’d want to see GDX/Gold hold the area of the up sloping daily SMA 50. While we’re at it, it doesn’t hurt to view Gold/SPX once again, since this is … Continue reading NFTRH+; Gold Stock Sector Viewed From Several Angles
NFTRH+; This Commodity Sector is Different
It did not materially participate in the relief rally but has been making a potential bottom/bounce pattern as we’ve been noting. The Agricultural sector is one of those that marches to its own beat with seasonal, weather and I suppose even demographic influences. As such, I am giving my DBA position a little leeway as I manage risk and try to navigate a potential change … Continue reading NFTRH+; This Commodity Sector is Different
NFTRH; Gold/Silver Ratio, Copper & USD
And here comes the volatility as gold firms and has likely made a bottom vs. silver. In NFTRH 613 we showed the Silver/Gold ratio at a limit point (or a gateway), indicating high risk for the reflation trades. Let’s flip it over and take a look at the Gold/Silver ratio from a long-term view. Support has held and I think it is best to be … Continue reading NFTRH; Gold/Silver Ratio, Copper & USD
Gold Miners Ride the Post-FOMC Roller Coaster
Fed rolls over, gold miners shake off the doldrums and ramp. Some people probably buy the news and get steamrolled. Back to square one, which on a daily chart is a flag to fill a gap. Here’s the micro view of today’s goings on. Now GDX has to try to push its cart of rocks back up the hill. Got to love FOMC day. An … Continue reading Gold Miners Ride the Post-FOMC Roller Coaster
FOMC
Okay speed readers, prepare to read the statement and spring into whatever action it demands! Oh, wait, never mind. The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The coronavirus outbreak is causing tremendous human and economic hardship across the United States and around … Continue reading FOMC
NFTRH+; 2 Medical Device Companies
I have been watching the medical device sector launch upward (largely on the back of Intuitive Surgical, ISRG). As such I put two lagging but prominent stocks on radar, MDT and BSX. MDT lagged in part by what drove ISRG; namely, that regulators have increased some barriers to entry to Robotic Surgery, which evidently dinged MDT (which acquired Mazor Robotics a few years ago). MDT … Continue reading NFTRH+; 2 Medical Device Companies
#karens
One downside of being a 7 day a week worker is that so much of American culture slips by me. Wait, that is probably an upside considering the perma-stupid gaining an upper hand in this country. Anyway, I hear “Karen” this and “Ken” that and think there’s some kind of a meme out there but I don’t really know what it is because I am … Continue reading #karens
Humbled Once Again by a Subscriber’s Input
From subscriber GZ… Hey Gary…..just a quick note to say thanks! My trading has improved markedly since I began my subscription and I owe a lot of the credit to you. I have learned so much by observing your process as well as the thoughts and reasoning that accompany that process. Your honesty, humor and candidness are a the perfect complement to your skilled technical … Continue reading Humbled Once Again by a Subscriber’s Input
Copper/Gold Ratio
The Copper/Gold ratio has been easing since it dinged and dropped from the down trending 200 day moving average. In other words, for now Cu/Au has held its long-term downtrend intact but not yet aborted its post-March uptrend. All you happy macro reflation types had better be cheering for the good Doctor over the dour old man. We can see that in slipping below the … Continue reading Copper/Gold Ratio
NFTRH+; a Little HUI Daily Chart Micromanagement
As noted in this morning’s update, the HUI target remains open, unlike those for gold and silver. The target is 375 and has been in place for a year or so. HUI boinked above 360 yesterday so that is in essence the target area. But the fact that HUI is pulling back today actually helps the case to hit the target in my opinion. Yesterday … Continue reading NFTRH+; a Little HUI Daily Chart Micromanagement