Being a portfolio twittler, I of course started re-buying NGD too soon. But I am doing it with a trader’s eye for lower buy levels. A miserly trader will look to the 1.00 area (+/-). Today NGD hit the 38% Fib retrace and support #1, where I added. In the trade log it was noted that the next support level is in the .90 to … Continue reading NFTRH+; Upcoming Buying Opportunity in This Gold Miner
A low priority update for those who would venture into speculation on a troubled miner. NGD broke above the channel top only to drop back into it. Now it is testing the 200 day moving average. This is obviously not an up-trending situation and so all due caution is warranted. Being a bottom feeder is a tough business. I took a small position and will … Continue reading NFTRH+; A Gold Miner in a Technical Setup
I think I over compensate against my personal dislike of the gold sector’s various perma marketeers and promoters, not posting as much publicly about the sector as I do about US stocks, Treasury bonds/yields and maybe even global stocks and commodities. But probably the most important and detailed segment in NFTRH has been the Precious Metals segment since we began getting constructive on the macro … Continue reading Meanwhile, Over in the Gold Mining Patch
We had a pre-market update showing some nice, neat buy areas for both GDX and GDXJ. They make sense from what has been a short-term bearish perspective (they are lower than current levels) and a long-term bullish looking setup. We’re talking technicals here, because the funda are a mess. But you know these markets; that can change in a nano. Anyway, another thing about the … Continue reading Gold Miners
Daily technicals with no cluttering fundamental or sentiment commentary.
HUI hit resistance above 240 in the form of the neckline to a pattern that could actually prove bullish. I have been thinking at least the first gap may fill but so far, it’s not happening. The pattern, which some would call an Inverted H&S (bullish reversal) is actually a consolidation of some kind with a bullish look to it. If it were to play out that way it measures to around 275.