This week has been a gamble. If you’re a stock bull you lose, if you’re a gold bull, you win. This morning’s reaction to Britain’s exit from the EU is pure casino stuff, practically speaking as an investor in the very short-term.
From Tuesday’s update (with an updated chart of the VIX)…
A brief technical look at the precious metals sector using daily charts…
GDX remains in a series of higher highs and higher lows, consolidating in a flag down toward the 50 day averages. There is some negative divergence in the MACD and RSI.
I am prompted to write this article because TA's are starting to pick up on the Semiconductor index's bullishness and even the overwhelmingly bearish website, the Daily Reckoning is calling…
Isn't it funny how USD, Gold, Silver and the miners all gapped up and reversed together today? It's now up to the Silver-Gold ratio to indicate whether or not the…
There are crosscurrents in the futures this morning. The US dollar is up, commodities and stocks are down and gold and silver are making new highs and attempting new highs,…
The gold sector's fundamental backdrop improved with gold vs. stock markets holding up trend parameters. But the majority may see dollar weakness as a key to the sector's fundamentals. These…
Silver (SLV) is breaking through resistance. Gold (GLD) is as well. Gold-Silver ratio and USD (UUP) are going in different directions today. This will not last. HUI led the Silver-Gold…
It must be a gold bull market because... Gold analysts (code for gold obsessives; analysts cover asset markets, including gold), who for years pumped people to be bullish despite an…
I want to preface by repeating that we are all different investors and traders with different means, methods and objectives. NFTRH is not a service that tries to instruct about what is best for others because I do not know the detailed situations of others. So the mode is to interpret the markets as best as possible from a fundamental and technical view, and also show what I, a lowly individual market participant, am doing with my own funds per my own unique situation.
[edit] Please see a new post with more perspective on a would-be 'inflation trade' and its limitations. The following excerpt is the opening segment from this week's edition of Notes…
I don't write the title because the precious metals took off today on the bad jobs report. Far from it. That is what gold is supposed to do under such…
We looked at the precious metals miner ETFs on Tuesday and the status there has not changed. They are still below the EMA 12 & 20 but trying to hold the 50 day moving averages, which means they are still in short-term downtrends and intermediate up trends. For my part, I added a couple items on downside activity (explorer/developer PG.TO just above its MA 200 & royalty/streamer SLW at its MA 50s) but also still hold the DUST and JDST hedges, as noted in the NFTRH 397. This hedging, which sometimes proves unsatisfying could last hours or days. As noted in the previous update, the struggle to hold the MA 50s will decide whether it will have been a quick correction or something deeper.
Gold bugs especially should be watching Yen and USD. The trend is against Uncle Buck and with the Yen and if that holds up we could be looking toward the…
Following is the opening segment from the May 29 edition of Notes From the Rabbit Hole, NFTRH 397: If we are going to highlight improving fundamentals, which we did as…