This Bounce Bears Watching

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July 25 -   As I write pre-Mkt, a bounce is unfolding.  Many people feel that they always need to be "In the trade". Sometimes during the strugglesome periods and possible turning points, its best to either hedge positions or just step back and watch how it plays out. If you follow my series of posts on this web site, I was BULLISH Metals & Miners at the end of May.  I caught the lows.  I was Bullish through June and into July, but recently things have changed a bit- with a "Shake out".   Review my posts -  you'll see that I started warning of weakness,   but still a bullish recovery possible.  Then it went to a baby bear. Then a battle of Bull vs Bear is becoming more evident. Now?  I expect a bounce....but this bounce could just be the Bear playing around or is the Bull going to take over?  QUICK review -To the Charts...   July 15-   I pointed out the steep sell off in Gold needed to bounce, was that a Bullhorn forming? -   GOLD july 15 bullhorn GOLD - is this still just a Bullhorn ? Notice Gold bounced off of the 200sma, closed above the 50sma. Now a bounce?   GOLD BULLHORN   Read More

Pre-Mkt sell off in GOLD – Still just a battle of the Bulls & the Bears

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JULY 24 -  Pre mkt     I spent some time yesterday researching, since we are at a point where some people are ready to throw in the towel in GOLD , others arent. Some are saying that "GOLD is weak here (And miners) and if this were a 2nd daily cycle...it should have blasted off by now. It has no follow through & is too weak."   Others even think  (And it could be)  that "Maybe a 2nd DCycle may not have started yet...maybe we are still in an extended 1st DCycle?"  I began to wonder myself too.  Since We have no overhead trend line break, it IS a possibility that we are still in the 1st DCycle , even  if they "Run the stops " here in GOLD and it dips below $1292. It could recover.  We are selling off pre-mkt,  as mntioned yesterday, there are signs of weakness, however,  I am not THAT concerned yet.    $GOLD - So Lets look at some charts-   $GOLD JULY 24   GOLD  - is  selling off in pre mkt , but this chart shows that its not that bad. Its still a normal pullback using Technical Analysis, so we'll keep our eyes on things.   Read More

Just a little Bear(Ish)

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July 22, 2013     I didnt want to scare anyone, so I decided to just show a playful little bear to make my next point, instead of a Full Blown Bear.  If you've been following my thinking, you know that I expected another Leg higher. Using cycles for timing, it should've popped higher or at least should  POP really soon. If not  -  this second leg up may just fail.  So why the little bearishness?  Well, as time goes on and the consolidation continues, we are losing the "strength" that was adding confidence. Notice the following charts...   GOLD is weakening & looks actually tired   GOLD TIRED I want to see GOLD get above those 2 moving averages overhead & not struggle so much. What about the Miners? Read More