Let me tell you a story about gold.

Gold has been on a run during this market correction.  There is more to the story and I’d like to show you.


Before we get started, lets look back at $GDX and $GDXJ how they closed out 2018…



GDXJ MONTHLY –  December has ended and this is the first Positive Month since MAY!   I pointed out that down trend line last weekend,  and it has been broken!   Again, I see NOTHING BEARISH about this chart.  2019 Could be a very profitable year !

(The following is a sample of Alex’s work from the past week)


GOLD LIVE WEDNESDAY JAN 9th-  Gold has been dropping, but it is mild at this point.  I’d like to see more of a drop.

ALO –  In December I pointed this out as a lagger that Popped and was a buy. I pointed out that these bases can actually produce a nice run . 

ALOIt ran and is now Bull Flagging.   I then pointed out other stocks that resemble this set up, and mentioned that they could be bought as those ‘lagging stocks trying to play catch up’  ( Advice:  a small basket to avoid individual risk, and  you can also use a small position size).  



NGDHere we go,  JAN 3rd, a similar base as ALO  was pointed out here and looking ready to go.  It popped 10 % here and I was looking for a nice run to the 200 sma as possible over time.  

NGD –  Boom Boom Boom-  it is playing catch up, even on days when GDX & GDXJ were down.  So I see that as an indication that some of these will act on their own,  as buyers step in to accumulate. 

GORO DEC 31  – So I used this chart and said that it looks similar to ALO and NGD, but it needs a bit more sign of strength. I wouldn’t just buy a 1 day reversal, but…

GORO  – It started pushing on that 50sma, and Tuesday it POPPED above it. THAT IS A BUY.  GDX & GDXJ were down at the time,  they were pulling back, but GORO was being bought up.  This  is a buy, but I did notice the DEEP RED CRASH DAY every 3 months before the base (red arrow).  That MIGHT be earnings, so be aware of the earnings date. 


HL –  HL was a BUY on JAN 3 too.  It has lagged, and it was a Silver stock still at the very lows, MACD rising.  Low risk, with a stop at the lows.   $2.47

HL –   It started flagging sideways and Tuesday HL has a 10 % POP.  Again,  this happened while GOLD, GDX, and GDXJ were down.  SO IF CYCLES SAY GOLD & GDX Need  a pull back,  maybe some of these that didn’t join in on the run higher in December  (laggers or Base building) will still just do  their own thing in January?   



HL – It could easily run, crawl along the 50sma, and break out as shown here. 



GDX  – If we can get a drop,  it might only look like this,  but so far GDX got choppy again.   Believe it or not,  this is 3 weeks sideways. It is simply going sideways along the 200 sma now, and that can be a Bullish Crawl.  IF GOLD BREAKS OUT HIGHER, THIS CRAWL ALONG THE 200 SMA MAY BE THE ONLY PULL BACK THAT WE SEE ALSO. 

CDE  –  So some Miners do look like they could pull back for a buy opportunity.  CDE could tag that 50sma unless it just breaks this apex higher. 


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