Would You Want To Be Short Gold Right Now?
Nov 12, 2014 Short Gold? No thank you!
Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
Reminder: Not All Bottoms Look The Same
Nov 10, 2014
Mondays action was what ... Scary? Yes, scary if you had a long position. If you didnt have a position, maybe it was time to take one! Was this another chance to buy in the Area near the lows ? ...or...Was today a chance to go short for the coming plunge? I ask that because I know many (not here necessarily) viewed today as "Weakness". 'The Bulls have no strength , no follow through, No buyers and the Bears are still alive and well.' And while I have to admit that that COULD be the case, I doubt it. Bottoming is often called a "Bottoming Process" because the battle of the bulls & bears doesnt allow a sell off or a rally - At First. If you examine previous "bottoms", you'll see that many act just like this before they take off upside. If it's a Real Bottom, that battle often drops off the New buyers, and leaves them behind.
AUDIO LINK CLICK HERE AUDIO LINK
Look at prior lows for Example: The reversal candle made the lows, then the next week sold at least 1/2 way down that candle
So what we see happening also happened at June 2013 , Dec 2013 lows, May 2014 lows ...Now
(Part 2) Sometimes They Just Get Tired
Nov 7 Weekend Report (part 2)-
Bear on a Tear! Bears can be powerful when on the attack, and Bear Market sell-offs are no different! Sometimes, however, they just get tired. In Part 1, I was pointing out a few other hated sectors that have been selling off viciously and showing how they are setting up at their lows in various ways. We caught Energy (XLE) the day of the lows mid October, and they bounced and double bottomed and so on. COAL / Uranium stocks similar...so what about Gold, Silver, & Miners? LAST WEEK I saw some interesting things and want to share them with you now. To The Charts!
Audio & what I wrote are almost the same, audio is 20 minutes, if you dont have time, reading it is almost the same. AUDIO = click here wkend report part 2
GOLD WEEKLY
Gold rejected the lower price/break down last week and closed at the highs, just shy of breaking back into that trading area. We want to see that this week. Will we? Look at the Middle indicator (Histogram) & the RSI. At new Price lows , they usually drops too. We hit new price lows, break down lows, and the Hist held up. I like that divergence.
At the end of Part 1 I said ...As I write GOLD is dropping straight down $6 and it will again be difficult to post a BULLISH report, but I would actually like to see GOLD crash down to $1154!! I would! (He said as GOLD continues to drop) 
We are now down $12 to $1166. I am O.K. with that.
Are The Bears Toast – Or Just Napping?
Weekend Report Nov 9
In my past few reports, I have been pointing out many "Set ups" in Energy / Coal / Uranium stocks & Miners possibly setting up too. Friday I posted in my report that I was buying pre-mkt at 6 a.m. in the Gold/Silver sector , and laid out all the reasons why. In this weekend report I want to share further thoughts, observations. At times in my research I try to think outside the box - and I even find stuff that blows MY mind 
. I did and want to share that too. To start....Are the Bears in some sectors taking a nap or losing control? To the charts! My reports earlier this week highlighted Opportunities showing double bottoms and other bullish set ups . This chart was posted for uranium for Example: They were READY TO BUY
Here it is now
Others mentioned have burst upward and the good news? Similar opportunities are still present, lets review several sectors...
Its Scary – Yet Its Beautiful
Nov 7, 2014 7 A.M. The clouds that you see in the above Pictures are real. If you were standing there watching them drop down, it could be very eerie, scary , and yet at the same time....Beautiful! The Mammatus clouds are very rare, and that's why when you see one dropping down before your eyes in a way that is not normal...it is mesmerizing . It can freeze you in your tracks.
What does that have to do with GOLD?....
Quick Shot
Nov 6 2014 Quick view of some interesting set ups. Still waiting for GOLD / MINERS to show downside follow through or change direction. I expect at least a solid bounce , a rally for a couple of weeks, but I studied some weekly charts and if the trend down resumes after a rally (or even if it were to continues from here after a sideways move ) I get deep downside possibilities too. I will save that for the weekend report.
For now, these were interesting charts if you want to trade another area
Uraniums look to be Bottoming - Double bottom
Lets see some individual Uranium stocks and see if we see anything happening there
UPDATE
Nov 5 nearing the close
As the day played out, it was interesting. The GOLD prices held the lows and GDX actually got to green at one point (Gap fill?). GDXJ is showing that it is still weaker than GDX...but all things said, what am I seeing right now?
1. Gold held todays lows and that was a target (BUT Miners lead the way down, and have turned lower)
2. Miners are still weak , they appear to show lighter volume today as they stretch to new lows and you can clearly see 5 waves down- but has the 5th wave ended is the question? They COULD do a watershed move ...and weekly chart bear that out too. The week is only 1/2 over.
3. JDST and DUST look excellent on a weekly chart. They look extremely bullish and since it is early in the week, that needs to be kept in mind. If they do not reverse by the end of the week, they have targets that are much higher (Same for WKLY JNUG/NUGT GDX GDXJ lower ) . SO jumping in looking for a bottom may not be prudent...although "Looking of signs that it could be near a bottom" signaled by a reversal in metals and Miners into the end of the week could be. Also a reversal in the Dollar and equity markets , if we are at a point of change.
THAT is how I am watching things for now and this is how bullish DUST (& JDST) look on a weekly time frame. I dont usually chart 3x ETFs, but they do also play out in exaggerated ways . SO please look at these DUST charts . WHEN THE MOVE ENDS, the snap back in the other direction should be strong, and I want to prepare to enter "Long" positions for that move, since I feel (for me personally) it is too late to chase the downside. (Unless one is a day trader & fast)
4 dust charts consider....
WKLY is bullish if it dosnt reverse by weeks end
Do Not Be Afraid- Be Alert
November 5 2014 9:40 a.m.
I was NOT going to write today, but when I saw GOLD near $1140 , I knew that it was a Possible final price low target of mine. I did not KNOW or even THINK that it would have to get there, but when I look at charts I always try to get all the possibilities of "Where might this be going?" $1140 was one weekly target. Today GOLD hit $1138 and reversed...IS THIS THE LOWS? OBVIOUSLY - NO ONE IS SCREAMING "BUY" right now (so it could be ). When everyone is afraid, the odds are higher. Take a look with me, and definitely sit on your hands for now....but this is one more thing to look for.
What you are about to see is for paying subscribers only...But since this site is free-WOOOHOOO! Enjoy and start tracking it.
GOLD this morning
The BLOGS are lighting up "GET SHORT FOR THE FINAL PLUNGE TO $1000!!"
Early Beginnings
November 4,2014
I posted this weekend that in the extremes that we were seeing in the Metals / Miners sell off, I am actually looking for the "CROWD" to be wrong. I expect that we could see a reversal and just advised that one ought to be on the look out for a possible "Shake out". To identify one...I start to look for any "Signs Of Life". I don't get TOOOOOOO excited over the early beginnings, but I stay alert to the idea that if a big change could happen, maybe some signs of life could start popping up? To the charts...
http://www.screencast.com/t/btqvHGs9 <----------Click link to listen / click 'download' / click "open" - return here and follow along
1. GOLD was down today, one "Sign of life" was AU
Ok...Lets all Pile into NUGT now & enjoy the ride!!! Oh wait- lets not. One sprout doesnt mean we have a flower garden.
Lets look for more signs of life...
ARE WE ABOUT TO BECOME BEAR SNACKS
NOV 3 2014 GOLD & MINERS are at the mercy of the Bears. Since Breaking to new lows, many articles are now pointing out that all support is broken and its a LONG WAY DOWN. I am now reading that we are so close to 1000, that a good FLUSH could cause it to give way to $800. In my last report I mentioned that I heard something similar in the XLE as it broke to new recent lows and broke support too. Many wrote that it could crash down ( Those alerts / articles were loudest right before a strong reversal).
AUDIO- (click the link, click download , click open and return hereto follow along) Metals link click here
I drew this chart on OCT 10 (Click to enlarge) . Honestly- I was getting extreme sell off readings and I DID NOT EXPECT IT TO BREAK SUPPORT, but it has. I thought instead that we might get a trade able bounce and then possibly TEST support? Please use the audio, it saves me time.
So now that Support has been broken, is it a bottomless pit? Lets look closer.
