March 1st – Digging Deeper

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After seeing the disconnect in Gold, Silver, and The Miners , I started digging in to see what I could find.  It seems that the more that I dig, the more that I am finding. We’ll discuss my findings after we review the other market sectors.

.

SPX –  We are due to drop into a dcl soon.  The last one was very mild inside of a consolidation period and now we have a right translated daily cycle here, so I expect that we will see another higher high after our dcl.

 

 

USD – EDIT: This morning the USD broke above the day 9 peak, making this a right translated daily cycle. That could be bearish for Gold, indicating that the USD will go higher and Gold will likely drop into a dcl.

WTIC – No change here.

NATGAS –  This is now lining up as a possible long. A break above the 10 sma is bullish, and a stop can be placed below the recent lows.  That makes this a low risk opportunity.

 

GOLD SILVER & MINERS

 

GOLD – I expected the 1264 area to stop or stall Gold. Now I see a bearish rising wedge, so this is in need of a good push higher or it should roll over into a dcl.  In all of the research that I have done recently, I am finding bearish & bullish for the Precious Metals.  With the likelihood of  inflation coming in, I would expect that things would be good for this sector in the long run.   Lets look at a bullish scenario…

 

GOLD –   GOLD could POP through resistance and nullify the bear wedge as shown.  THEN it can back test the 200sma with a dcl. Edit: I wrote this last night, and now that the USD broke the day nine peak, it is more likely that GOLD will drop from the wedge.

 

SILVER – Moving right along, but the silver stocks are not keeping up.

 

During the afternoon I was trying to post a chart of GDXJ and the upload wasn’t working.  This was that chart.  I was calling for an end to the sideways price action that we were seeing.  Either we would see a  sell off in GDXJ and (hopefully) double bottom (red line), or we could break higher (Green line), but this pattern of sideways action was about to end.

GDXJ –  GDXJ sold off as I was trying to upload that chart, as you can see here.  We did get that double bottom or higher low, but I wouldnt buy this at the close of the day. a gap down would have downside.

GDX – With a small trading day and a slightly new low, we have eased the parameters for a possible DCL ( swing low).  It could be viewed as a ‘low risk entry’ since Tuesdays lows would be the stop.  Please honor the stop and realize that Gold could sell down from 1264 and Miners can either bottom ahead of that Gold dcl….or….drop again too.  It’s tricky.

After our 1 day slam down on Monday, I found one in the 2003 bull run that also came out of nowhere. It slammed down for 1 day as shown, dropped slightly lower the following 2 days, and then took off higher and never looked back.  So that was good to see after a slam down day, but if Gold is about to put in a dcl, I would assume that MINERS will stall or fall.

I’m going to end this part of the report here.  Basically we have a low risk set up forming in NATGAS, and the Miners may put in a swing low too, but I have found some bearish things about Gold right now and I will share that below.  It’s not bearish long term, but right now I think we may not see the bull run that we have been expecting right away.  It is still a hazy area as opposed to being one of crystal clear set ups. In my research, I have found some concerns that need further research, and we are seeing our stronger looking Miners start to decay too.  With this in mind, I am going to sign off, and then continue with some more of the findings that I have run across.  I admit that some of the things that I am seeing in my research do have me a bit more cautious right now in this sector. I will be sharing these findings along the way. Maybe after GOLD puts in a DCL things will clear up for the Miners?  As of right now, I think that the rally is showing internal weakness, as you will see below. It was a great run from the ICL  (December lows)  to the February highs, but you have to take what the market is giving you, and as of Monday, I am seeing real weakness that I need to continue to look into.

Have a great Wednesday!

 

~Alex

.

Do you remember this chart from yesterday? I am trying to show how tricky and volatile a bull run can be. Look at the 1st place that I labelled ‘SLAM DOWN‘  on that 1 day in April 2009. After that slam it went sideways for over a week and then broke down again…

Can you picture that happening now if Gold rolls over into a dcl?   Lets zoom in on that April 2009 slam with the GDX. Imagine that this Slam is the Slam from Monday.  See how it went sideways for over a week above the 200sma?  It then finally busts down and shakes everyone out.  NO ONE wants to buy miners after that, but then it takes off, running higher and higher from there. So…

Imagine buying a swing Wednesday and watching it go sideways along the 50sma for a week, thinking that it is getting ready to move higher and then it plunges below the 50sma with Golds dcl.  You would stop out.  So look again at the above chart.  NO ONE can call that ahead of time  ( Except maybe  someone like me that did the research and just wants to keep us aware that anything can happen, I guess), but honestly that is unpredictable.  Expect anything and Stay Frosty!

.

PART 1 : There is a little more for today. I use special channels to show me when Gold, Silver, or Miners are healthy.  When we come out of an ICL, price usually never touches the lower channel line until we roll over and drop into the downtrend of daily cycles into an ICL.  With our recent 1 day slam down, we already touched the lower channel line.  This has to be a big cautionary flag for me at the very least.  Let me show you why.

 

GDX – Look at the 2016 run higher, notice how price never tagged the lower channel until we rolled over. The final daily cycle low tag it. Again, we just tagged it already. Let me show you more…

HUI CURRENTLY –  The HUI was recently rejected at the 200sma ( blue line) and just broke below the 50sma and the lower channel line. Is that Bullish? No and this really concerns me deep down inside and here is why…

HUI 2001 to 2002 – Price never hit the lower channel for years during the very strong bull run of 2001 & 2002. Never.

HUI 2003-  Only after an ICL early in 2003 did it touch that lower channel line. As price ran out of that ICL, it didn’t hit the lower channel again  ( Note: This was when that 1 slam down day into a quick dcl came in. It barely tagged it  4 months after an ICL, but then took off and did not touch it again).

HUI –  This is that 1 slam day in 2003 from the above chart, where it barely tagged the lower channel line. It was a 1 day event, a fluke .

So my point is that THIS EARLY in an intermediate cycle ( 2.5 months into it) , we should not be tagging the lower channel line, and as of right now we are actually still under it from that slam down day to now.  I’m having a hard time seeing this as a BULLISH set up at this point. We need to get above it pronto  to view it as a fluke or an anomaly in my opinion.

243 replies
  1. Kenny
    Kenny says:

    FYI: Direxion announced yesterday JNUG, NUGT, JDUST reverse split 1for 4 at the opening bell on May 1st.

  2. Rm
    Rm says:

    Seems like a failed IC no? Could mean several months of weakness.. what’s aggravating is we had such beautiful bullish setups over and over. Grateful I hedged all my exposure yest.

  4. zig-zag
    zig-zag says:

    Weekly GDXJ, looks like a small inverse head and shoulder formation.
    Would be good to see it recapture its 10WMA by the close of the week.
    I agree we need for this to turn around soon, and I respect the situation with Gold setting up to correct.
    http://schrts.co/9UB1js

  6. deshy
    deshy says:

    $SPX 2400 here we come…sometimes watching the game form the sidelines is the most dangerous place to be…makes you want to jump in and play with the winning team…right before they get smushed! Or so you keep thinking:-( #missingSPXtrade

  7. nancytheartist
    nancytheartist says:

    So, Alex,….to clarify… back a few days you stated gold could drop down to approx. $1220 [DCL ?] and the charts were still ok for a longer term bull trend. Is that still correct?

    • chartfreak1
      chartfreak1 says:

      I dont remember saying $1220, I thought I mentioned the tag of 1264 would be resisance and it could drop to the 50sma, which is more like 1200.

      Gold is acting exactly as expected and Silver has been bullish, the Miners dropped quickly and a lot earlier than Gold, so I will be watching the miners as Gold pulls back and see what they do. It would be good to see MINERS stop dropping before Gold finds the dcl. It would be good for Miners to turn higher before Gold tags the 50sma. Miners are leading the way down, I’d like to see them lead the way higher.

      • nancytheartist
        nancytheartist says:

        OK thanks. I am watching over my core holdings which I plan to keep as long as the bull is the trend. I can ride some ups/downs getting there.

          • chartfreak1
            chartfreak1 says:

            I’m looking at it 2 ways

            Yes, That still looks like a bear flag and could be if it cannot break higher above the flag.

            I was also drawing a chart showing 1-2-3-4-5 down – BUT it could be an A-B-C complete.

            I drew the 1-2-3-4-5 because the move to 5 would take it to the 200sma, but the volume does seem strong today and it might break above the flag if it keeps going.

            That doesnt mean it rips back up to the highs, but it may build a base or stair- step higher.

        • Tammie
          Tammie says:

          Waiting on SGMD to pull through for me…sold in my trading account yesterday, holding in a retirement acct waiting for it to come back up…..I’ve traded in and out of this one too…

    • Tammie
      Tammie says:

      Well. mine are kind of back and forth right now…:P…..I had sold several so the ones I have are just bouncing right now….I’m thinking of jumping into CNBX and OWCP (have some of this one at small loss right now…so thinking of averaging down…) on this pullback on those….I’ve traded both of those in the past..in and out….

  11. chartfreak1
    chartfreak1 says:

    My ENPH solar stock took a smack down today. It has reversed , but I may sell it as a trade. I was going to hold on longer term when it looked to be forming a cup, but I’m not married to it.

  12. chartfreak1
    chartfreak1 says:

    I am buying TGB for a trade on this run up and pull back this morning.

    I was watching it for the past few days and was hoping that it would drop to the 50sma, and if you look at a 3 month chart, it kind of looks like a H&S – so it isn’t without risk, but it also looks to be a strong move out of the lows on a 5 day 5 or 15 minute chart.

    In at $1.38

    • Bill
      Bill says:

      GDX can’t trust it now, need a swing. Hopefully everyone got out a few days ago and are in cash. GDX 22.16 will be the 50% fibo, I suspect 61.8% fibo at 21.23 will be our next reentry. Have to find another sector for now. I took a small NatGas position this morning. Looks to be the only game in town. I wanted to get back into X, based on chart and Trumps speech last night, haven’t yet.

  15. Erik Sven
    Erik Sven says:

    UGAZ looks like indecision today. Ugh. Alex, weren’t you saying Thursday is natural gas stockpile news? Is it typical to see indecision candles in the day(s) prior to such news? Thanks!

  17. chartfreak1
    chartfreak1 says:

    Just thinking out loud….Since OIL has been sideways and rather unpredictable, I’m still not invested in the Energy sector, however….

    ERX looks rather bullish, and XLE. Looks ready to break from the down sloping channel, but may just be a bounce

    Kind of interesting that many Energy stocks are up 3-5%

    Maria mentioned LGCY yesterday and it did bounce off of the 200sma

    BCEI moving higher by 10%

    PGH up 12 % off of the lows with divergence

    CLNE, ULBI, PEIX look good, but they aren’t oil related – clean energy

    • BayTrader
      BayTrader says:

      I was looking at that.. Im doing more HW on this as it appears news is out.. But its such light vol…

      • chartfreak1
        chartfreak1 says:

        Yeah, it did have some good solid bursts of volume on the last 2 pushes higher.
        Bucking the trend today for sure.

        SO far the chart of MIners GDX GDXJ doesn’t look tooooooo bad. Like a shake out below the 50sma, but I dont see a ton of stops being run , based on the lack of steep follow through down. Also Gold is not really dropping toooo much with the USD breaking higher.

        Yet.

        I.M.H.O. : )

    • Thomas Yarbrough
      Thomas Yarbrough says:

      EGI is one of my bigger positions I’ll post the fundamentals in the next couple of days that make me optimistic

      • chartfreak1
        chartfreak1 says:

        A little. It is appealing in many ways, especially with supports holding GG and ABX, and the juniors that didn’t perform well are now green. It seems like Miners sold off first and could bottom first, but I need more time.

        • Hawaiifive0
          Hawaiifive0 says:

          We’ve hit the 400 EMA and the 65 sma in GDX and the same is about 1230 for gold. Wondering if GDX has bottomed and gold falls to its 400 ema while GDX leads us up and out right before gold turns around and follows..

          • chartfreak1
            chartfreak1 says:

            From what I’m seeing, Miners seem to have had the shake out below the 50sma, but no big stop run. GDX & GDXJ are off thier lows too, so Miners lead the way down, could lead the way up.

            The USD is still a bit baffling

        • Ken
          Ken says:

          Agree….
          Holding me back is:
          GDX Not back inside the BB’s.
          Gold still has room to correct further technically.
          No swing….yet.

          It is close though…..

    • Bill
      Bill says:

      Interesting but expected news. I still can’t decide on which MJ stock to team with. THoughts?

      • nancytheartist
        nancytheartist says:

        I did really well with CNBX, but it is VERY volatile…at least when I held it. I like the story too…med use for cancer in Israel.

      • Tammie
        Tammie says:

        I’m with Nancy…I like CNBX but volatile (I do have some of that now, had sold but bought back a bit)…..also OWCP (research being done in Israel…Israel is big on cannabis research)….also like the products that GBLX (patents filed for inflammatory type diseases), SGMD (packaging) are producing or trying to produce…..I have traded in and out of SING…and wish I’d gotten more when it fell to 6 cents on Monday…now it’s back up to 9 cents…but it was at 12 cents before the Friday fall they all had….not sure about the company as a whole, just a nice one to jump in and out of as the chart patterns shape up 🙂 There are others I’ve had but sold…waiting to see how they recover after Friday….. acbff (Canadian company), cnab, cbis, cvsi, ammj…….I’m creating a watch list of stocks that are Canadian companies…since it’s legal across the nation there for medical use….

  21. chartfreak1
    chartfreak1 says:

    For what it is worth: My account was at all time highs ( I should say 1 year highs) in early February.

    It is now 10% off of the highs. We hate to give it back, but it is almost impossible, or actually it is very impossible, to sell the exact top of every run every time.

    So we just continue to work to look for trades or patiently wait for the set up to set up, and we get that 10% and then some back.

    A chart of my account balance would look like a stair step higher too.

        • Bill
          Bill says:

          As you know, I do too. I’m down more that 10%. I saw it coming a few weeks ago when I posted, “Gold up and miners not joining in? I’ve seen this before!” Should have got out there at JNUG 11.50. You’ll have to share with us on how to better get out of positions.

          • chartfreak1
            chartfreak1 says:

            JNUG I have a basic rule ( And I do tend to break it in real time), but my first thought at an ICL is that if you enter it near the lows and ride it for the first daily cycle and 1/2 of the second ( like day 12 as a guess), you can double or triple your money. That should be good enough, leave it alone after that an dont get greedy or you could end up giving some back.

            I broke that rule this time, and rode Jnug down a bit too, trading it in February expecting GDXJ to pop to a new high when Gold was still rising to tag the $1264 area. So I overplayed it a bit this time. I didnt feel greedy, I just thought that GDXJ would POP higher while Gold reached higher for its 200sma, but GDXJ just kept dropping.

            I actually sold it correctly at first and even sold what I had purchased ( or added) at the $8 area. I tried a few quick trades after that and that is often when I get whip sawed out…the middle of the 2nd daily cycle.

            I also lost some off of the top with the NAK drop until I was stopped out under $3.

            I sold a few like PLG, URRE, TRX – that just weren’t acting as expected, and I had a loss in URRE after a nice initial run up. A l very small loss in LGCY, MTL, etc – riding them up & down and jumping off.
            So it’s kind of a mix of circumstances that happens.

            The NAK run from last summer was a HUGE ride though, and that cushions the small losses.
            I caught lows in GPL and rode that for months, DRD under $4 to $6, and a few others…and those trades pay the rent if you can ride some good ones and even add to positions if they stay healthy looking. The little losses wont add up as much.

    • Ralph Wiederzane
      Ralph Wiederzane says:

      No sweat at all, Alex. I’m having similar results, and it’s just part of the game. Next trade is setting up as we speak!

    • Maria
      Maria says:

      so…. i was studying my old HUI…. and im still seeing this pattern …
      1. … naturally — not sure if it’s a possibility of a repeat –> but it sure is tracking the last leg right on….(blue copy)

      2. … i wanted to ‘compare’ GDX — question — is there any significance to the fact that the GDX priceline is exactly at the same point where it ‘appears’ we may be now in the pattern …(see green candles) ..???

      https://www.tradingview.com/x/xn6ECnLs/

      • chartfreak1
        chartfreak1 says:

        Well, GDX didnt exist in the 2000 run, so I’m not sure what you mean by the GDX price line in 2001?

        And so you are saying that your blue candles are HUI from its 2000 run, and GDX is following the path. I think I see that, but arent you comparing a 1 year run of the HUI to a 2 month run of GDX? Can that be done?

        Well If it works, I guess we’ll all learn that it can 🙂

  22. Ken
    Ken says:

    Silver has been the strongest imo most likely because it is used industrially, in part, and with the coming infrastructure plans…..

  23. Ken
    Ken says:

    Charles Schwab / OptionsXpress will be lowering there commissions as of March 3 FYI…..
    I do not think it will be automatic though, you may need to call.

    • nancytheartist
      nancytheartist says:

      Thanks…that is my old account, and when Merrill offered me free trades, I moved a lot over to qualify.

    • Chad
      Chad says:

      What are your commissions if I may ask?? I’m with Scottrade for $5.00 ($12 for penny stocks). Do I have more room for negotiation? (Started at $7 years ago)

    • nancytheartist
      nancytheartist says:

      Ken thanks so much….I learned on a chat they will not give them to you automatically….you have to request them! I am doing that now.

  24. Hawaiifive0
    Hawaiifive0 says:

    Alex, when you get a chance look at the 400 ema on /GC at 5/31, 10/7 and now. I don’t remember where or exactly what I heard aboat it, maybe just hearsay, but I think it was something about the stopping point between a bull and a bear market in gold and miners and was used by a somewhat respected trader on BBT who has since passed. Maybe I’m remembering wrongly, but it’s sort of interesting to watch.

    • chartfreak1
      chartfreak1 says:

      You mean – MAN I CANT THINK OF HIS NAME. We used to email each other often…he was a very fast day trader, In & out of the trades quickly, talked about grabbing the low lying fruit, etc? I’ll have to check my old emails for his name.

      Yes, I looked at the 400ema yesterday , I dont know about it being the difference between a bull or bear market though,

      • Hawaiifive0
        Hawaiifive0 says:

        I’m thinking it was William Wallace and I really didn’t know him, but heard a lot about how he like to use certain moving averages. You may be thinking of DG.

  26. The Seer
    The Seer says:

    For me it’s long term holding and riding the staircase down and up with the trend.
    Painful at times but Patience does pay off rather than let “them stop you out” in “their
    manipulation to wipe out the middle class”. I like having free time so this works for
    me so not glued to the computer for hours and hours.

  27. LeChiffre
    LeChiffre says:

    NAK sitting on its 200m (weighted). 400 ema (for William Wallace!) below. I’m long and have accumulated.

  29. Hawaiifive0
    Hawaiifive0 says:

    Alex. Curious how you would do this. I bought very small 100 shares of JNUG @ 7.53 with a stop at low of the day. Would you move it up to break even now?

    • chartfreak1
      chartfreak1 says:

      Personally – the move out of the lows was good and I wouldn’t expect it to drop back down there ( though anything can happen).. I would move it up to $7.70 if it was a large position, because you get your commission back and everything if it goes bad.

      I kind of like what we are seeing here, as long as this isnt a big sideways consolidation. That may have been the lows.

  30. nancytheartist
    nancytheartist says:

    Wow! Had been away for awhile…nice to finally come back to an account that is green after days of red! No slam down on gold today!! Are they finished with messing with us like yo-yos?

  31. chartfreak1
    chartfreak1 says:

    This really looks like the low in the selling.

    One should wait for a confirmed swing low to be safe, but todays lows may be THE low, and a swing would form tomorrow.

    I did some small buying , I am in front of the screen all day

    • deshy
      deshy says:

      Alex, looking at the cycles, thoughts as to the conflicting RT $gold cycle and the weekly break of the up TL on $HUI? Could this be a quick 3rd DC for GC reaching a high then rolling over…miners forecasting move? Just asking b/c I’m wondering if today’s lows are it for miners but only in context of their 3rd DC. Sorry for question…my crystal ball busted and hope yours is working 😉

      • chartfreak1
        chartfreak1 says:

        This may not help you, but sometimes I just feel that I need to eliminate cycles and look at the charts. I do not only use cycles, so I have to look at a variety of things. Obviously GOLD & SILVER are strong, Miners took a good break.

        now I see a Bullish reversal, I’d have a stop at the lows, we saw a break of the 50sma that could be a stop run attempt, GG at the 50sma, ABX at the 200sma. These are all technically sound reasons to view it as bullish.

        I’ll figure out what cycles are saying later, but conservative ones should still wait for a swing low to be safe, if that is what they are comfortable with. Others may wait and see if this holds into the close. Others might take small positions and add if it acts correctly. etc

  34. Chad
    Chad says:

    I’m trying JNUG here. Was fortunate enough to ride dust the last 2 days.

    Once the “dust” settles, go for the Gold! Right? 🙂

  38. Glmus
    Glmus says:

    One thing that concerns me is that I do not have daily sell signals for DUST or JDST. Thus, I am not ready to say golds, as a group, are taking off yet. Similarly, although JNUG and NUGT are both green, they are not that close to a daily buy signal for me.

  39. Ann
    Ann says:

    Alex- it doesn’t look like spx is going to have a pullback before it hits that target you had- 2427. How did you determine that target?

    • chartfreak1
      chartfreak1 says:

      Actually , that was the conservative projection, so we’ll see if it gets there, but it actually could extend. Crazy move – I’d like to see the precious metals have some of those 10 day up in a row months!

      • Maria
        Maria says:

        yes… :o)
        I’ve seen charts where they have spy in the tail end of a “3” that wont quit…. about to enter ‘4’ …..

        i hope im still alive when miners decide to get their but in gear and start “3” …
        waitttting … waittttting …. waittttttttttttt

      • Cason
        Cason says:

        I know right? This is what a 3 of 3 wave looks like and we don’t get that euphoria feel out of the mining sector recently.

  40. Tammie
    Tammie says:

    Well, getting interesting weather here in North Alabama…..hopefully won’t lose power with what’s headed this way…..if only it would hold off til market close…but that not gonna happen…..

  41. CS
    CS says:

    Alex, did you buy any ZEUS? It’s moving up nicely today, obviously the State of the Union address last night brought the buying pressure out. Nice mention of that, I bought the day you mentioned it.

    • Hawaiifive0
      Hawaiifive0 says:

      Let’s hope this is the bottom. I won’t go heavy though until we at least get a swing.

    • Glmus
      Glmus says:

      FWIW Kathleen, I had a JNUG 60 min buy about the time you may have added yours. My daily JNUG indicators are not that close to a buy however. My earlier purchase of XRA was a bit of a stretch. But individual stocks take off at any time, so I jumped in. I will post when I have a good JNUG buy, maybe in a few days unless we have some explosion. Based on the Dow today, it looks like all the money is pouring in there.

      • kathleenchow
        kathleenchow says:

        Appreciate it, GImus:) I can’t sit in front of the computer all day, so appreciate you sharing:)

      • Cason
        Cason says:

        Right now we’re set to gap down in the morning. I think that’s a buy. The 30-min chart was a bit overheated at close, gold is kinda hanging out, $$ back is beast mode. As long as the $7.07 Wed low holds. That breaks and I’m outta here!

  43. Maria
    Maria says:

    so… Ken… (or whomever – just NOT chartfreak – im not talking to him) LOL

    take a GANDER at THIS “flip” of GDXJ … exact replica of the move down “flipped” up ….
    Yes please .. I’ll order that .. with eggs on the side (im starving cuz Ive been so busy (no lunch) ahem and only had a banana today)

    https://www.tradingview.com/x/FUXK1XNr/

  44. Ralph Wiederzane
    Ralph Wiederzane says:

    I have been looking to start buying miners, and who knows, today might have been the lows with the way they are bouncing. But I’m not feeling it yet, still too many hangers on at other websites I visit, combined with the really low volume in GDX, it doesn’t seem like the big players with longer time frames and deeper pockets are getting involved here. I’m going to have to pass for now, sure hope that wasn’t THE bottom!

    • chartfreak1
      chartfreak1 says:

      One thing that I will mention about the volume being light.

      The SLAM DOWN day on Monday was the real deal, and getting a break of that low is usually a good thing, like sellers are drying up. I am not saying THIS IS THE LOW because of that, but it is actually what I like to see after a panic type sell off day .

    • Glmus
      Glmus says:

      I don’t have a clue how to catch a bottom. But I have some nice indicators that combine to get in me within a couple of days of a bottom. What I see today so far with the many of the usual metals we see on the site: HBM, TECH, TGB, TMQ, FCX (pretty beat up), XRA (own) are buys (it is best if what I see happens nearer the close). GDX does not look close to a buy yet, but it could happen on the open tomorrow for all I know.

  45. The Seer
    The Seer says:

    The term I forgot to use is “churning”. Be careful. They move the metal price
    up and down and back up and down in 24 hours to mess with retail profits . . . . .
    Usually around when they go to lunch in NYC . . . . and then when back again . . . .
    So better to hold and go for the long run if you can instead of blips as you can’t
    get the timing right . . . .

  48. Hawaiifive0
    Hawaiifive0 says:

    It’s interesting that everything is moving up together today.Gold, Stock Market and the Dollar.

    • Cason
      Cason says:

      I’ve liked it but was stopped out when she lost the 50-day this week only to find out that I probably just fell victim to a shakeout. Lost my SAND same way. I had hard stops at the obvious points so that I sell right at the absolute lows. But the risk was high and miners have smelled fun recently, didn’t think I could just have blind faith and knew I wasn’t able to be in front of to screen constantly.

  52. chartfreak1
    chartfreak1 says:

    Thanks for being here, and adding to the comments section.

    You must know what you’re doing, I dont even know how to add a monkeys face to my comments yet 🙂

      • Maria
        Maria says:

        actually make that …
        #daddyWarbucks

        ;o) ha ha … oh mannn .. i need a little …. exercise…

        good day.. .lets hope it sticks…

          • Maria
            Maria says:

            not exactly wrestling……… back in the day when “streaking” was HUGH my sisters, friends and I went in our pond……. and covered ourselves head to toe in the muddy clay and then ran around our house and barns past all the ‘hired hands’ lmao..(one was on a 20′ ladder) he almost fell off …

            … we were almost around the last bend when we ‘heard’ our dads pickup downshifting…. we hauled a$$ back to the pond jussst in time for him to pull up our (LONG) driveway …our 1 friend had a .. well bouncing problem and fell ‘behind’ and ALLLMOST blew us in ….she was quite literally ‘bringing up the rear’

            oh man … good times .. good times..

          • Edward Bernhart
            Edward Bernhart says:

            Ken, Just got back from a week in Utah, had some 115 Heads for first time. Snow was epoch one day at Brighton through the trees 21″!!

    • Cason
      Cason says:

      I’ve had MUX forever, will take a look at EGI, seen a lot of mentions of that one recently on here.

  57. kathleenchow
    kathleenchow says:

    CF, in tomorrow’s report, can you comment on the cycle count (miners and gold)? I’m a bit confused. Thanks.

  58. Dom
    Dom says:

    Breadth of the market is fine, investor bullishness is pretty high. It’s always different this time till it is not

  60. Steve Tytler
    Steve Tytler says:

    Bot starter positions in JNUG today near the close, waited to see if it would sell off at EOD. As I posted previously, I do not try to catch the “bottom” so some of you got a much better entry price than me. This is still a very RISKY entry because JNUG is NOT a “buy” on my daily chart. In fact, miners are still in a DOWN price trend on my daily chart right now so I would not be surprised to see miners keep selling off this week. However, I see some bullish signs starting to appear on my daily chart and JNUG is a “buy” (up trend) on my 2-hour chart, so I’m taking a shot. Don’t follow me, I’m just posting here because some people have asked me to post when I buy or sell. The reason I use JNUG is because I can get the same exposure for less money invested. For example if I want to be 30% invested in miners in my retirement accounts, I can put 30% of my money into GDXJ or I can put 10% of my money into JNUG. That gives me the same amount of exposure to miners, but more flexibility. Again, I’m posting for informational purposes only. Check your charts and make your own trading decisions. As Alex has said repeatedly, JNUG and other 3X ETF’s are VERY, VERY RISKY! They should only be used by traders who (think they) know what they are doing, not by newer traders or long-term investors.

    • rm
      rm says:

      but the decay when your wrong is vicious.. to me its not worth it and in fact you will act way longer on way up and/or down..

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