Normally I want to try to avoid updates about what I am doing with personal trading, especially during emotional, hype-filled weeks like FOMC week. But with the gold sector so in the spotlight lately and with my stance (about the risk of a correction) I assume well known, I wanted to update you on a move I am making this morning.
Our little Nugat theme is all done now because I no longer like the taste of being leveraged short the miners. I am taking +15% on the trade and moving…
Understand that in-day moves can also be whipsaws, so take them for what they are; current views and not a daily or weekly close, which are firmer.
GLD is breaking the Triangle. If this is successful, the next stop might be 1308 for gold per this morning’s update.
We have noted the key pullback support level equivalent to HUI 140 (GDX equiv. is 16.90) and so far this has not even been tested (the lowest GDX got was…
The daily charts of HUI, GDX and GDXJ below show pullback support zones as the (mini or maxi) reaction from over bought status takes hold. As noted, HUI 140 is…
I want to update the charts from the last two updates (GDX, XLE and SPX) and also have some words about the markets overall. GDX hit the first resistance level…
A brief daily chart review... Yesterday GDX continued to follow through on its trend line breakout, which came on volume and was noted in NFTRH 363. This continues to look…
Yesterday we showed the ETF charts that were at bounce points (if they were going to bounce). Today GDX and GDXJ are up around 4%. I grudgingly added a couple…
We noted in NFTRH 336 that these ETFs had short-term support levels lower than where the prices stood as of the end of last week. Today they reside at those…
Just for a different perspective, here is what is going on with the GDX 60 min. chart today. Clicking the chart will give a nice, big view. A gap from…
Yesterday we updated the hit to the miners and that update still looks valid. It looks like the reaction is just that, a reaction. But also note that the miners…
Last week when GDX pulled back hard we reviewed an NFTRH+ update and target of 23. Yesterday and this morning it hit that target and today, poetically, comes the next…
I wanted to give you the latest snapshot of the precious metals as we wind down into the new year. GDXJ is breaking above a short-term downtrend line today after…
We have been noting the bearish state of the gold miners for all too long now; most recently in NFTRH 321. But at some point I have got to believe…