Fed Wednesday – Business As Usual?

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Today is Fed Wednesday –  You know the drill.

 

 

NOTHING HAS CHANGED, EVEN THOUGH PRICE HAS CHANGED. There are short term bullish scenarios for precious metals, there are bearish scenarios, as laid out for you in the weekend report. Yesterdays fast drop in the Miners after a nice 2 day burst in GDXJ is a reminder that Fed day itself can be a coin toss, but lets just quickly review where we are right now.

 .

USD –  Again, it looks like the USD and GOLD are trying to put in a dcl at the same time here.  We see  a swing has formed an unconfirmed dcl. See the chart.

 

 

GOLD – from  Tuesday, Gold was rejected at the 50sma, but is in the timing for a dcl.

Gold cycles can form on day 27, but they also CAN extend to day 33, 34, 35, 36, etc – so we keep that in mind. So even if this is day 31, a break down may reverse higher as a dcl within days.  A burst higher after the Fed should signal that the DCL was on day 29, and Wednesday would be day 3.

So we may see this after the Fed for even 2 or 3 days  ( the purple arrow may or may not be drawn a bit too long).  Can you picture this as an  A-B-C down? I can.

We have a right translated daily cycle in Gold, so we WOULD expect a higher high.  Miners are acting weak, so I just wanted to mention that a DCL in place at this point also MIGHT  just play out a bit weak. This would lead into a drop into an ICL ( A HUGE BUY probably later this spring).  This forms a H&S.

GDX – This would be an undercut low after the FED. This would shake out most ‘longs’ currently holding, but this late in the timing for a dcl, we are due for one.  This is the toughest line up heading into a Fed Day between  GOLD, The USD, and MINERS that I have EVER seen.

JNUG  – Look at this chart.  JNUG just looks like it wants to give it up and sell off sharply after Tuesdays reversal, correct?

JNUG is still oversold and notice that we have seen a flash 1 day crash on the way higher recently too. 1 day is not enough to judge how the FED WED will play out. We may not break the recent lows.

 

JDST  does look like it is ready to rally, but it is a tad overbought and this can flip and sell off lower on a Fed Wednesday too.

 

Sometimes things are lined up perfectly heading into the FED MTG, and we have been able to position ourselves rather well before 2 p.m.,   it is as though smart money is positioned before the decision is released.  Right now however,  both the USD & GOLD look ready to put in a dcl and the timing is right ofr both of them.  That is a bit confusing. Cycle timing CAN extend a little , so  you know the drill on Fed Wednesday…  STAY FROSTY!

 I’m  position very lightly now. If you are positioned one way or the other going into the 2 p.m. Fed decision, it can be tough due to fast reactions and volatility. This is about as 50/50 as it gets when trying to predict a short term reaction.  The Theme picture is how ‘business as usual’ goes on the days when Janet Yellen and the Fed release their decision, and we have an abundance of positions. You have until 2 p.m. to decide how to go through that time. Best wishes!

 

,

~ALEX

.

NAK – The HISTOGRAM is climbing and price seems to be inside of a falling wedge. We are closer to the lower leg of the wedge since I drew this for someone yesterday. I am still in Nak with a starter position.  It looks like it COULD drop to $1 or a bit less and still be  considered ‘o.k. ‘

131 replies
  1. Ralph Wiederzane
    Ralph Wiederzane says:

    I remain 25% invested in miners for now, been ok with that since it’s made it easy to hold through all the wild swings recently. Will buy into smashes when they occur and after the Fed.

    • CS
      CS says:

      Good strategy Ralph. I’m at about 19% miners myself with most of that in GDX and a little JNUG. Will buy more on extreme weakness for quick trades as buy and hold is extremely difficult in the miners aside from a core position.

      • Ralph Wiederzane
        Ralph Wiederzane says:

        Sounds good, been an easy hold and puts us in position to take advantage of an opportunity if it presents. I’m hoping we go lower first so we can load up!

    • Cason
      Cason says:

      Doing exactly what I had hoped this morning. Miners look to be setting up a nice short term short with JDST on 5% sale this morning!

    • chartfreak1
      chartfreak1 says:

      They do look decent , a higher low and reversal from yesterdays dip,

      but then I feel like that Moth flying toward the tiki-torch – thinking that it looks inviting too – LOL

  6. zig-zag
    zig-zag says:

    By the low comment count I take it everyone is waiting for the FED.

    Attached is a link to a GDXJ weekly chart.

    On the way down we had a HOT trendline which was hit often.

    Our current trendline on the way up is not far away from current pricing.

    I drew in some ellipses with some explosive moves on the downside.

    Should be interesting to see if those type explosive moves can be duplicated on the upside.

    http://schrts.co/lwZIlI
    Buckle up, should be an interesting day!!!!!!!!!!

    • chartfreak1
      chartfreak1 says:

      When I saw that, I thought ” Maybe that was another happy SCHWAB customer, getting his $6.90 order after their account re-opened, and getting it removed later?” : )

    • Evan
      Evan says:

      Hi Steve, please see last few comments from yesterday between me and Tammie. Odd, to say the least…

    • Steve Tytler
      Steve Tytler says:

      Price has come close to the target price of that high wick in the first few minutes after the Fed “news”

        • Evan
          Evan says:

          Please see comments from yesterday. This trade was noted as cancelled about 8 minutes after it showed up on the charts. As I recall it was 16:04 (900K shares bought) and then noted as cancelled at about 16:12 or thereabouts. It was very strange and I’ve never seen this before…

          • chartfreak1
            chartfreak1 says:

            Thats why I joked that it was a schwab trade- when they went down, many old trades were still hanging out there. it got cancelled and I joked that they called and asked for it to be taken off : )

          • chartfreak1
            chartfreak1 says:

            yeah…I am joking though, because if it was an order place mid day before schwab went down, I dont think that it would carry over & be executed into after hrs trading. I dont think it would, but I dont use schwab, maybe they would?

          • Evan
            Evan says:

            yes, got it :). But no idea. It was definitely one of the strangest things I’ve seen. Especially that exact number of shares…

          • nancytheartist
            nancytheartist says:

            Thanks Evan. I did read the comments yesterday. And Alex’s… but Steve brought this up before and I know he is a long time trader so may have observed it over some years….not necessarily this specific instance. I have seen it also over the years so thought I’d inquire about his longer observations.

        • Steve Tytler
          Steve Tytler says:

          Yes these big wick trades show up fairly often in the AH and pre-market hours. I have posted them before. There is a guy on another trading forum who goes by the handle “Mr Miyagi” who tracks these quite often. He calls them “Bonzai” trades or someting like that. I call them “sginal trades” because some people think they are used as a “dog whistle” by the “Big Boyz” to alert their friends which way they are trying to take a stock. I posted this screen grab this morning because it looked like the Boyz were gonna run JNUG back up to $6.90 or above. These do NOT always hit, and sometimes it takes up to 10 trading days for the target to hit. But they hit often enough to be worth watching. Also, they don’t show up on all charts, only certain trading systems. I use Schwab StreetsmartEdge. Fortunately, I had no problems trading at Schwab today.

          • Tammie
            Tammie says:

            I was watching JNUG after the FED announcement to see what it would do at that $6.90 mark….it did pause right after $6.90 and hee hawed around a bit before going back up over it…but once it got over it…..just kept going…

          • Evan
            Evan says:

            Thanks Steve. I recall you posting these signs before, but have you ever seen one cancelled a few minutes after it was traded like this one was???

          • Steve Tytler
            Steve Tytler says:

            The one I posted this morning ($6.90 in yesterday’s AH) is still on my screen right now. But the last one I posted today ($6.53 in the AH) has disappeared from my screen. I have never noticed that before because I’m not looking for them all day, just when I’m looking at my screen. Makes it seem even more suspicious! 😉

          • nancytheartist
            nancytheartist says:

            Thanks for the answer. I will keep my eye out for them. Do you see them on individual stocks, or mostly etfs?

  9. chartfreak1
    chartfreak1 says:

    Hey guys, I just got in about 15 minutes ago from plowing and shoveling here after releasing the report, and then rove down to help clean up at my parents house. They now have a new metal roof so I dont have to shovel it, but it piles up and slides off onto their deck and both stairways -so I had twice as much in my spring exercise program 🙂 Good times !

    SO I’m scrolling through charts and it is still a tough read, but the good news is, I have done some more extra research and I am getting a feeling that no matter what happens in the short term- The second half of this year is going to be great for the precious metals. I almost want to just wait for the next ICL and LOAD UP, but I am not that patient.

    I’m going to go and scroll through some more charts – but what a 50 / 50 set up this is so far in precious metals.

    I think that the SPX , NAZ , etc could be at lows and ready to run higher in another leg up, but waiting on the fed is prudent.

    Oil putting in a nice bounce – I’ll discuss my thoughts on that going forward too.

    Some of the best charts that I have been seeing lately are BIOTECH / PHARMA – but they can be very dangerous too.
    Kind of like IDRA, CRMD, ( missed BCRX) , Mack base? INSY & INO pulling back now, etc – But I have no positions in this sector.

    Going to get to work, we’ll see what happens after the FED. Knee jerk reactions can be tricky too- they may reverse into the close. It is just a mixed picture, but MIners and GOLD/SILVER are due for a dcl, along with the USD. Toughest call I’ve ever seen …period.

    • chartfreak1
      chartfreak1 says:

      Yep, it did …

      And UUUU back above its 200sma. I’d like a little more volume please . Even UEC looks nice, but the volume is weaker than I like to see. Could just be a bounce in Uraniums.

    • chartfreak1
      chartfreak1 says:

      I agree- in fact I think that it already has, I think I had that in a past report when I bought URRE.

      I bought the initial surge higher in URRE , and a few others, and I’m just waiting for that initial surge to pullback enough and settle into the next low (Although I own UUUU right now). Using URA as a guide on that pull back.

  13. Glenfidd
    Glenfidd says:

    …. when can I start worrying about the Dutch election or the debt ceiling? About 11 minutes? 😉 lol

  15. John Hickman
    John Hickman says:

    Sold NMM today, sad. Enjoyed to ride from $1.86. Thank you Alex. I took a new position in NAK recently at $1.26 been a rough ride, still in it.

    • chartfreak1
      chartfreak1 says:

      This was very unfortunate John- They did a public offering. I read their earnings report and this one was set up to run nicely, and it did. I HATE when they do an offering after a nice run and drop it down like that.

      I’m glad that you did keep some of that profit, but that was a great trade you had going there…unfortunate.

      Congrats

      Oh, and I think your NAK will be fine – Maybe sell some on a bounce or hold . I’ll be watching it , since I own it too.

  16. The Seer
    The Seer says:

    This is why I don’t trade DUST. Happy Day today. May it continue up rest of week -month . . . .onward.

    • Evan
      Evan says:

      Amen. Just on a pure hunch bought some JNUG this morning below 6. Eternal optimist… Now its a matter of when to get out….

  17. Evan
    Evan says:

    DXY nosedived at the rate hike. Many were calling for a dollar spike. Could it be that the markets are taking into account the debt servicing going up rather than just that there’s a ‘healthy’ economy??Interesting…

  18. Steve Tytler
    Steve Tytler says:

    As I posted last night, miners look bearish again … UNLESS there was a big reversal today after the Fed “news” Looks like miners are going to flip bullish again. This action is very similar to the 3 days of trading in JNUG (and other miners) December 29, 30 and January 3: Big up day followed by big down day followed by big up day.

  21. Steve Tytler
    Steve Tytler says:

    I have been buying back into JNUG, about the price where I sold yesterday, so basically replacing my positions, but less invested in my retirement accounts than I was before I sold yesterday (due to settled funds).

    • Ralph Wiederzane
      Ralph Wiederzane says:

      Whatchya thinkin? I want to be heavy into miners again, was only at 25% invested through recent storm, when do you think we can get back in the pool?

      It’s a strange post-Fed today so far, none of the typical huge up and down spikes as the markets seek direction, just the one spike higher and run. I can’t recall if this is how miners traded after the Fed last few rate hikes.

      • chartfreak1
        chartfreak1 says:

        It’s way too hard to explain it all now, that is why I have been repeatedly mentioning both cases in all the reports. I bought today in a few areas ( GDXJ & NUGT had a clear BULL FLAG on the 5 minute charts. As a trader, I took entry on that flag. ( There are also ow risk Miners coming off of their lows mentioned above ( IAG, NAK, SAND, etc came out of a place near recent lows) ), but it is still tricky.

        JNUG up almost 30% right now, GDXJ up almost 10%?? That is a massive reaction, likely a lot of short covering. It could pull back tomorrow or into the close, so buying here adds risk of a bit of a pullback, but starting a few more positions that arent overextended is possible.

        The current set up could include buying with trailing stops – catch some gains, but you cant tell if this is going to at least pull back into the close…so it is a risky addition

    • Maria
      Maria says:

      damn.. that is on giant mofo green candle……………………………………….. shaZammmm 😉

  23. BayTrader
    BayTrader says:

    AHHHH – with my entire miners WL going deep red to bright green, im having an overload.. WHAT DO WE ADD? lol

    • chartfreak1
      chartfreak1 says:

      When I am at a traffic signal and it goes from Red to Green…. : )

      How long the light stays green is another thing, but scalping some gains for a few days is possible either way.

      I have mentioned in prior reports that L.T. daily cycles top around day 78 to 12…so some Miners may make decent gains into next week. BUY & HOLD for weeks might now be the best thing though- after the short covering slows down, we’ll see whats next

      • Robert
        Robert says:

        ALEX you are leaning to buying and holding for weeks now? is this your plan for gold stocks …. please confirm
        I respect your opinion

        • chartfreak1
          chartfreak1 says:

          Not at this point, but it could be- we have to watch how it plays out.

          With all that I have put in my reports about the bullish and bearish possibilities—this reaction does not automatically remove the short tern possibility of a drop in the future weeks. I will show in future reports what to look for and why this reaction does not necessarily just mean a strong run higher & higher.

  25. chartfreak1
    chartfreak1 says:

    NAK recovered the 200sma and has broken above the wedge that I showed and is over the 8 sma ( not the 10 quite yet though). It may close above that 8 sma for the first time in a month

  26. chartfreak1
    chartfreak1 says:

    XRA has been one of the best performing Miners through this whole process. It is not at highs yet, but threatens to break out and possibly run. Not overbought here.

    I think it would be fairly safe ( Barring any of those dreaded ‘ public offerings’ comes along)

  27. Robert
    Robert says:

    ALEX is this a new strategy you are proposing? you are leaning to buying and holding for weeks now? is this your plan for gold stocks …. please confirm
    I respect your opinion

  28. chartfreak1
    chartfreak1 says:

    The last chart in my report before signing my name…. I showed the reversal in JDST yesterday and said that it appeared bullish, but it could flip & sell off just as easily on a Fed Day, so we proceed with caution bullish or bearish. This is exactly why .

    Refresh for 2 charts

    https://uploads.disquscdn.com/images/41787eccd9dc39494dbbd9600f12c1fff07cadba883287325435138e2460f516.jpg https://uploads.disquscdn.com/images/5ebd81f3cb835940be5f5bb2c020f5ffb646de7aef9578bcb3f8269d0e89fb97.jpg

  29. chartfreak1
    chartfreak1 says:

    So the markets are breaking out

    SPX, NASDAQ, etc . There were some wanting to buy the next leg higher. I mentioned last week and in the weekend report that the low may have already come in ( Semi low risk entry). Today is confirmation.

    • Steve Tytler
      Steve Tytler says:

      I still want to buy my old friend TQQQ … but the returns pale next to JNUG. However, JNUG can be a much rougher ride as the last few weeks have shown.

      • chartfreak1
        chartfreak1 says:

        Yes, TQQQ has been slow but steady. It is only up 2% today, but it often does that day after day. It’s a tough call when they are both running together. JNUG up 35% today. SHeesh!

        • Steve Tytler
          Steve Tytler says:

          Yeah I really like the slow, steady gains in TQQQ when it is in an UP trend like it is now. IMO stocks are in going to be in a UP trend for the next 8 years like the “good old days” of the 1980’s and 1990’s when we used to think that a 25% gain per year in stocks was “normal.” LOL Many of you are not as old as me, so you were not around back then.

    • Steve Tytler
      Steve Tytler says:

      Big up days like this are typically followed by a pullback the next day … but not always. So don’t be surprised if we have a red day in miners tomorrow.

      • rg64
        rg64 says:

        Look forward to it…I get the feeling this move left folks under invested and thus can continue until people pile back in.

  31. Steve Tytler
    Steve Tytler says:

    Amazingly strong reversal in miners today! JNUG has traded 125 million shares and is up 33%+

    That’s a whole YEAR of gains in most stocks!

    Wow!

    I didn’t expect this, but as I have said in the past I don’t trade on what I think that market SHOULD do, I trade based on what is doing (according to my chart system) and sometimes that means I can flip bull, bear, bull in 3 days … just like the market itself!

    • Tammie
      Tammie says:

      I know..I wish I’d bought more…..got in later than I wanted….about the time I was going to hop in things started popping….still wondering if I should just go ahead and get more…but…I figure surely it will slide back a little some time..but..you never know….

  36. Glenfidd
    Glenfidd says:

    Gdx volume- 141 million. Jnug 135 million.
    Nice to see the larger cap golds back in the action

    • Steve Tytler
      Steve Tytler says:

      Wow that’s great volume on GDX, that’s what the big money managers like to buy. Looks like miners are “cool” again. 🙂

  37. nancytheartist
    nancytheartist says:

    I’m singing now: what a difference a day makes….24 little hours..” Nice to see green in my account! Only sorry I sold my GORO when scared to be holding so much…still, I made a profit on that one. ANd now I have some $ to play with..always a bright side.

      • nancytheartist
        nancytheartist says:

        Sorry you lost out. Who could know which way this would go….when Yellen is yellin’…anything can happen! I don’t use stops usually, and with Alex not being as sure as he usually is of direction, I admit I got nervous this time, and did not stay frosty. I sold a few positions [dogs] for a small loss and GORO for a profit so I would have more $ available….but had I waited till after she opened her mouth as opposed to before…they would have all been green. Oh well.

        • Cason
          Cason says:

          I did still have some miners so can’t complain too much. Both of the previous rate hikes came with a knee-jerk slam in gold. I mean a rate hike is positive for the dollar. Ok so I don’t really believe that, I follow Alex’s stuff. BUT if Wall St and the algos believe for a day and I can make a buck off of it…

          Glad I held my miners though I’m mostly down to dogs at this point. At least AG and EXK got a solid bounce today.

  38. Carlnetscouts
    Carlnetscouts says:

    Driving to Sacramento. Couldnt make any trades while driving but was pretty well stocked up. Nice day!

  39. Steve Tytler
    Steve Tytler says:

    Here are some “signal trade” updates. Somebody asked if these only show up on ETF’s and the answer is that they show up on individual stocks as well, but money managers like to trade the main ETF’s like SPY, GDX, GDXJ, etc. so I see them there more often and then extrapolate that out to the rest of the market. Here are a couple more from today. As you can see, AUMN had a signal trade in the pre-market this morning indicating it would DROP to about $0.57 … the LOD was $0.58.
    Coincidence? You be the judge. Also check out this signal trade a short time ago in the AH for JNUG. Looks like the Boyz want to take it back down to around $6.90. Will that hit? I don’t know, but it could be a good dip buying opp for traders who want to buy and/or add JNUG. Again, please DO NOT assume that these always hit. They are like the P&F charts I post. Sometimes they hit, sometimes they don’t. But they hit often enough to keep an eye on them IMO. https://uploads.disquscdn.com/images/e093719f096fb87d2899415eadc23045bde5e6981076d8615c77ddfbe519eeaf.png https://uploads.disquscdn.com/images/fc5df657bb62ff38dda2525c2ff9745f8b1f81dfd71b8217253863f96213b2b3.png

    • Tammie
      Tammie says:

      Thanks for these charts, Steve….I try and take note of these long tails because I have seen them work out a
      number of times (although like you said…there is no guarantee)………kind of hoping JNUG will go down so I can get more….:)

    • nancytheartist
      nancytheartist says:

      Thanks for the answer about observing the “signals” in individual stocks too. I appreciate the time you spent posting the charts.

  41. Steve Tytler
    Steve Tytler says:

    JNUG Update #3 Looks like the “Big Boyz” are preparing to slam JNUG tomorrow so they can scoop up some more. This one goes down to $6.53 Now I can’t say that I totally believe this, but the theory is that one of the Boyz will tell his trading buddies “I’m going to dump a bunch of shares of JNUG and run the price down to $6.53 be ready to BUY when that price hits.”
    I’ve seen these hit pretty often lately in the PM sector and we wnow that JNUG is a PM trader favorite right now, so if you want to play their game put in a limit buy for JNUG at about $6.60 and see what happens.

    https://uploads.disquscdn.com/images/a5fc3d6a03fef4d1d94ba3ec01bf40df7b2e9e11016ed7b053b8dc1f951dec07.png

    • YS
      YS says:

      Hi Steve,

      Is the $6.9 ATH action yesterday the same thing? The big boys tried to load up?

      Thanks so much for sharing. Right now I have no position. Just try to figure out what to do next.

      • Steve Tytler
        Steve Tytler says:

        Again, let me emphasize these are NOT the same as legit TA signals that I use on my charts or that Alex uses … these are like UFO’s .. they may or may not be “real.” I’ve seen them hit often enough to watch them closely but I don’t bank on them. According to the “big boyz conspiracy theory” the signal trade from yesterday’s AH indicated that the Boyz would run JNUG up to $6.90 today or sometime in the near future (within 10 trading days). The signal trade in today’s AH would indicate the opposite .. that they plan to force the price DOWN to $6.90 tomorrow or sometime in the future. This could be done by posting a “sell” order of 100,000 shares of JNUG at $6.90 and then cancelling the sell order after a few hundred shares are filled.

        BTW that last “signal trade” down to $6.53 that I posted has mysteriously disappeared from my trading screen on Schwab. Bwhahaha! (evil laugh)

        Again, please don’t take these too seriously. I’m posting primarily for entertainment purposes. Let’s see if any of these hit. 🙂

        • YS
          YS says:

          Thanks, Steve. Yesterday it seemed the same thing happened. The trades disappeared afterwards. I will load when it dips tomorrow. Everyone thinks the inflation is coming. 🙂

        • BayTrader
          BayTrader says:

          Im so happy to see someone whos charts are almost identical to mine being that we both use the same broker… Streetsmart is def. something to get used to compared to TOS

    • Cason
      Cason says:

      Hey Steve, how do you see these, as in platform? I used to follow these signals in $Gold/GLD (read all your posts below) with a different guy and they were uncannily accurate. But never followed with ETFs/stocks only with items that traded futures at all hours – Gold, oil, S&P futures. These are accurate as well? $6.53 Is quite a hit. But to someone on the sidelines, should be considered a gift!

      • Steve Tytler
        Steve Tytler says:

        That’s because I track after-hours and premarket trading on my trading platform, most people don’t do that. In Schwab StreetSmartEdge you have the option to turn on premarket and/or after-hours trading on your charts. On my screen captures, the price in the dark black is regular trading hours and the price in the gray is after-hours (first half) and pre-market (second half). Most traders ignore AH and pre-market trading but I find with my charting system I get a jump on the market. I can usually tell if a stock is going up or down before the market opens. Today, JNUG was pretty flat so there was no clear price trend, but yesterday I knew JNUG was going down before the market opened because I had a “sell” on my 15 min chart using pre-market data.

        • Cason
          Cason says:

          Ok, will have to see if my broker has a similar capability. I’m tracking the technique, etc but not all (including what I have been using recently) charting platforms are able to show this.

  42. Cason
    Cason says:

    I just don’t understand. I don’t understand at all. We’ve had the same visceral reaction lower on all rate hikes and the whimper of it 2-3 weeks ago is what sent miners to their death in March. Don’t get me wrong, I’m bullish long-term but I’m still in absolute shock that gold went up. Didn’t think the algos would let that happen. Angry that I allowed my self to get whipsawed in and out of positions by knowing for sure that I had everything correct. *ugh*

    I still had my “core” so those positions really, really appreciated today’s rally. Now that I got that JDST silliness out if my system hopefully we can continue this 3rd daily cycle rally. Really would have been awesome to still have been holding JNUG today!!

    • zig-zag
      zig-zag says:

      Hi Cason,

      Free article in Safehaven, by Enda Glynn; EW analysis of Gold.

      Not a plug, to my knowledge he does not offer a service.

      If gold ultimately goes to $1450, the miners should do very well from these levels.

      Previously, I posted this weekly chart. I drew a series of trendlines that corresponded with reversal points. The chart was on HMY but most miners looked the same. It seemed like we had a confluence of support at the level we were trading.

      It was do or die, they needed to bounce.

      http://schrts.co/RwFBlE
      On the EW analysis please note that he is looking at this as a bear market rally that will eventually revisit our Dec 2015 lows.
      Good luck!

      • Cason
        Cason says:

        Thanks for sharing, gave it a read. But I personally don’t see up to 1500-1550 and then down back below $1000. That’s a pretty nutso size move in gold. And pretty liberal application of recent wave structure. Not saying we can’t get 1500 or that we can’t bust $1000. But doing both? I’m not buying it.

    • Cason
      Cason says:

      Put me in the $$ rally camp. Oops!

      Not so sure on the JNUG spikes, gold is continuing higher early in Asian trade (without much move in the $$ at all). Bad for me, looking to add. Had my entire portfolio in the green early Feb, looking forward to get back to the glory days again.

  44. Tammie
    Tammie says:

    Did someone mention that the JNUG shares might be going to go through a split in April? I can’t remember who…or the details?

    • Steve Tytler
      Steve Tytler says:

      1 for 4 reverse split on May 1st. Usually that’s a bad sign, let’s hope JNUG keeps rocking for a few more weeks.

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