You Have 1/2 Day To Decide

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11/28/2014    GOLD!    Meltdown? Blast Off? Non-Event? The question on many investors in the metals markets this weekend points towards the SWISS REFERENDUM. And as far as holding your current positions or selling them, you now have 1/2 day to decide whether you should HOLD or you should SELL.  Let me just say, I've laid out the BULLISH case here for the past 3 weeks and so far, we have seen matters play out exactly as I thought it would.   However, The event Sunday can cause a knee-jerk reaction and so I want to mention that there is no shame in selling if one is unsure or nervous. Todays 1/2 day of trading is your last chance to do so. I am here to again review why "Nothing has changed" so far, because I did get a good number of emails asking me about that.   GOLD  -  Yes it has sold off again.   In many prior reports I mentioned that Fridays have been pretty predictable that way lately, so that you'd be prepared. Take a look,  does it look absolutely broken to you?   Gold 1179   That $1179 has been an important number,on Nov 18 I shared this chart below on FED day to prepare us for that...   Read More

PART 2 Fuel To The Fire

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Mid day Nov 18 As we watch the day unfold, I am still seeing some Bears add to their shorts here in public blogs.  It's tough to watch if you think that we have more upside, and I'm not happy about it, just pointing out what that might mean .  They want to add here trying to  make their money back if prices drop. Some are still saying that   "KIng Dollar will crush the Metals" and  "It was a Break Down of Triple Support, now support is broken , so its going to crash."    As I have outlined here...It had the makings of  a "Shake out" &  Now looks to be a "LOCK OUT".     When these shorts finally throw in the towel, prices should even climb higher leaving them with bigger losses and then for them, prices are too high to jump into ,  without feeling like they are chasing.  I want to share with you another development...MINERS. As explained in an earlier report- A  "SHAKE OUT" is when price breaks below support and causes "Shorts" to take or add to existing positions. Prior support SHOULD become resistance, but IF support is recovered - it is viewed as a "shake out". I pointed that out in GOLD.  Today we see MINERS acting in the same manner. Notice...   GDXJ - I was watching for a recovery here too and drew this chart at noon. Since then,  It has now recovered its support level. Price as I write is Currently $29.22 . A close Above $28.82  is Bullish.   GDXJ Recovery   What about GDX? ... Read More

Fuel To The Fire

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Nov 18,2014 

   Just a few thoughts here, not much has changed.  I had one reader ask me to review the QQQ's , so I will do that and also use the SPY as an example, but first GOLD. The outworking  of GOLD continue to look and act  like a "Shake out"  & then the final "Lock Out" have occurred.   I actually have people writing me saying they are going to short the 20sma and also will short again at the 50sma.  One asked me  "I added shorts today , when will you be?"   IF THIS IS A LOCK OUT move, shorting is extremely costly. We might get pullbacks here and there on a daily chart, but A short cover rally accompanied by buying can cause a somewhat pause-less rally and the mental damage can cause one to just freeze. So historically, Please look at this Weekly chart ....

 AUDIO CLICK HERE  click here / press download then click OPEN and come back to follow charts

Better to  short this , or buy the dips?

 

GDX ICL

 

Next lets cover Gold as I see it this am ( 6a.m.)...

 

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