See edit at end, adding in the favorable gold and silver CoT. We have been expecting a seasonal rally in gold, silver and the miners off of a bottom due…
[edit 12.8.17] Amigos status clearly & concisely updated. I am not trying to be a wise guy with the first half of the title (it's a goof on alarmist media),…
The target for HUI has been 220 since resistance just below 200 was broken. Of course that 220 level is subject to a +/- tolerance. Today the overbought index hit…
Brokerage Account: Overwhelmingly long... Green Roth IRA Account: 100% long... Green Trading Account: 100% short... Green And no, I am not bragging because if I were to do that you…
I know that some like the thrills of any rally in the gold sector, regardless of whether it is with the trend or not. Just to review, this one is…
HUI is dropping further into the support zone. We are giving this down to 180 or so, which would get it quite over sold if registered. S&P 500 continues to…
I'll skip the promo in favor of maybe releasing #403's slightly weird opening segment later on. It's time to not only have your thinking caps on, but also your tin…
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)…
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.
The thing that is not trustworthy if you are a deflationist or (anti-inflationist) is that the ‘inflation trade’ is getting kicked down by the ultimate jawbone, the FOMC minutes. Often inflammatory events in markets have a short shelf life. As such, the Silver-Gold ratio does not need to get hammered much lower, based on this event anyway.
Note: A reminder that I will mostly be away from the markets on Thursday and Friday. This update is an extensive review of where markets stand now. We will update the situation on Sunday with an abbreviated NFTRH 391.
Precious Metals
HUI made it to the resistance line and the projected zone of 202 to 211 off the consolidation triangle (ref. daily chart reviewed in this update last week). From the ‘bottom line’ of that update: “Watch the gold miners. A breakout (on a weekly close) here would signal a new leg to an initial target of 211.”
Just another in a continuum of reports that have been in line with a macro theme seeing a loss of momentum in the US stock market and potential bottoming in…
Well, I just wrote 42 pages. I'm spent, so no big promo. I am personally enjoying the market for what it gives and having a good year so far. In…
A brief update as I am on a mini getaway in NYC and will be hitting the road shortly. TIP-TLT has continued upward and broken above the MA 50. The…