Gold Core Positions and Miners
Note: This post is an except from a nightly member only report.
SPX - Not much has changed over the past several days, but consolidations often lead to strong moves.Read More
I am releasing the premium report that I wrote last Thursday for Friday mornings trading. I feel that much of it is still applicable today. Enjoy.
In a recent report I was discussing what I called Giraffes. These are the special set ups in certain Miners that explode higher giving the chart a look of a giraffe neck. Certain set ups form during consolidations and lead to this price explosion, giving us some big profits. Obviously finding them BEFORE they pop is the key to maximized profits. Lets take a look at some of our Giraffes from past set ups, then I want to discuss what I think will be the next ones.
This was our set up in XRA at when it was just under $1.00
2 days later we were up over 30% with the giraffe neck 🙂
Lets look at another explosive POP that we caught, and then I'll point out our next candidates...Read More
Your past steps have moved you to where you are today, your next steps are just as important. Allow me to walk you through a look at what Chartfreak readers were hearing before & after the Brexit vote. Those steps brought us to where we are now. I’ll also show what we currently see when it comes to Precious Metals.
GOLD AND HOW I SEE IT NOW
I kept reading everywhere in Late April / Early May that Gold had to plunge down and tag the 200sma before it could move higher. Why? Many thought that Gold was overextended. I agreed that it could, but I also pointed out that Cycle Timing caused me to be looking for a very important low imminently. I drew a drop to $1200 area, but mentioned that $1170 was possible too.
As we dropped to the $1200 area , Fib #’s and ‘ Cycle Timing’ came into play. I was looking for a low.
I then called a possible low at the $1205 area with capitulation type selling scaring everyone away and causing a lot of ‘fear’ talk. I mentioned that I couldn’t tell for sure, but I think that the lows were in or at least a buy-able bounce with that reversal. I began buying Miners 4 weeks ago, at the end of May.
This was day 3 of the lows, and an extremely low jobs report was released. Gold blasted off higher. A close above the blue line would confirm my idea of deep meaningful lows ( An ICL).
I was asked in an email, “What about all those saying that the 200sma needed to be tagged?” I agreed that that ‘tag’ could come, but did it have to be in May? I said No, and drew this idea.nThe Tag could come later and when the 200sma is actually higher.
Gold was now a bullish set up and was running out from an ICL. We actually had a consolidation from FEB to June, for those thinking that Gold was overextended. It isn’t, it had gone sideways for months.
Silver stocks have doubled and tripled, is the move in Silver & silver stocks done? This is a great looking base if you ask me, and only the beginning in the long run.
And GDX & GDXJ have had great runs higher too, but that may be just the beginning.
Timing a trade is important though. Now I want to walk you through a few trades, and show you a current trade that I think will play out well.
I recommended VGZ and MUX before they exploded higher. I didn’t offer an exact entry or exit, just that I had bought them a bit earlier and they were looking at a possible explosive set up.
MUX – I had mentioned to my readers that I had been buying Miners and bought MUX in May at the 50sma near $2.25. June 12 it was now breaking out from a constructive consolidation with great volume. Even at this point it was a buy-able break out.
MUX popped and ran very strongly. It remains near $3.75 consolidating recent gains.
JUNE 13th – VGZ was at $0.97 . I bought this consolidation and mentioned that I thought Golds ICL was in, Miners should be bought. Dont go ‘all in’, but it was a great trade set up as shown. It had a super base.
VGZ at $2.02. Gains of over 100% in 2 weeks.
That leads me to today. When those positions get extended, I like to sell at least 1/2 and look for other similar set ups. I pointed out this stock Monday and even with fundamentals that are not ideal- the set up is perfect again.
June 27 XRA– This has had a nice run higher and has consolidated. I bought it near the 50sma and posted this chart as a buy above support. Another 97 cent stock 🙂
XRA – It wasn’t just the recent consolidation and set up that I liked, I also pointed out that another super base adds relevance. Does this base look a bit like the chart that follows it to you?
VGZ as it broke out and ran to $2+
Tuesday June 28 – So again, I had already posted XRA, but I posted it again in todays report. This is an explosive looking set up, even if one just took it for a quick trade on a possible break out.
XRA June 29 as I write this report, XRA is up another 13% today. Actually , it just popped up 20% as I was writing.
THM – I pointed out another one just like it Monday at 75 cents, what a nice set up. Watch these run.
I am constantly searching for what I know to be explosive set ups in the bullish market sectors, Right now I am bullish on Precious metals and the set ups look very nice.
So did you buy VGZ, MUX, ASM before they broke out? Are you in XRA today? Not every trade works out with 20% gains day after day, but these recent gains are seriously helpful to the portfolio. For example, I also recommended SAND & BTG over the past 2 weeks and with small gains, SAND backed up yesterday on a public offering. Not a big deal, down 7% and I am actually still bullish on SAND, but I just wanted to point out that not every great set up works right away. A small position in the ones that do make up for any that do not however. Honestly, other miners recommended are doing well too, and still others are currently ‘setting up’ for possible future explosive moves.
I will keep premium members posted when I see these bullish set ups. I do see a few more currently acting correctly. Why not get an extra set of eyes by trying chartfreak for a month? One trade may pay for that month. Thanks for reading along, and best wishes!
The Uphill ClimbWhen a climber begins his or her ascent, they are full of energy and the start of the climb is always easier than when they near the peak. As the climb continues, you may see him or her periodically rest, shake out the tightness, even drop back and pursue a different path to the top. I often see that same thing happen in the climb of various stock market sectors, and Precious Metals and the Oil sector is experiencing that now. (Long term they remain bullish in my opinion), WTIC - This was June 14 and we were on day 50 of a Cycle, so it was already late in crude oil's daily cycle and I was expecting a low soon. Read More
You may have heard that you should not buy precious metals miners until after a ‘blood bath phase’. I mentioned within my (premium May 18) report that I have received numerous emails telling me that warnings were out that the next Intermediate Term Cycle Low (ICL – A cycle low that occur every 5-6 months) will not come until we first see a huge sell off within precious metals. Many fear that the blood-bath is still directly ahead, and some think it will occur around the Brexit vote (June 23rd).
Today, I would like to share with you just a brief excerpt on what I’m looking at here within the precious metals sector. And within my coming weekend member report, I will be going into much more detail on what one should expect in the coming months.
Below is a chart that shows what happened coming out of the 2008 lows, when many were also looking for a an ICL and “blood bath” sell-off. As you can see, advances out of bear market lows do not follow the typical script. Simply put, there was no blood-bath to be found around six months after the Oct 2008 lows…it occurred almost one year later.
Actually, for the past two weeks, I have been saying that we could be at or past the next important low in the precious metals sector. Last weekend’s report discussed this idea further, and this weekend, I will include more research on that theme.
I also mentioned that a gold break above the overhead down trend line would give further evidence that we saw an ICL, without a blood-bath phase. This was gold on June 9th.
USD – The USD was in decline, but due for a Daily Cycle low (DCL) this week. On Thursday, the USD took back three days of losses, but Gold and Silver moved higher despite this strength. We have seen a change of character here, where the dollar can rise and gold manage to resist the expect drop in response. See also Feb 2016 on this chart.
It will never be a straight run higher with precious metals, it takes discipline and patience. However, gold bull markets are known to surprise and have the ability to leave so many people behind. With this weekend’s report, I will outline what I believe is occurring today and will cover what members could expect going forward.
Chart Freak Premium
Chart Freak members receive up to 5 premium reports per week covering a wide array of markets, as this public post illustrates. Come and join the ChartFreak community as we trade the new Gold Bull Market and various trending sectors.
The Gold Bull MarketDo you think the Gold Bull Market has returned? Obviously I do, and have been trading as if the Gold Bull Market has returned. You need to be aware of this opportunity and appreciate that another big move in this Gold Bull Market is again developing. If this next move is anything like the moves seen during past Gold Bull Market's, then you will not want to miss the next buying entry after this current correction winds down. I was able to successfully guide Chart Freak members through the recent 100% rally in gold miners when we bought the lows back in the middle of January. Those gains were exceptional, to say the least. In some cases, junior miners rose up by 500% off the lows, and are now consolidating those gains in preparation for the next leg higher. My recent weekend report (premium version) took a deeper look at Gold's recent correction and how the current action in the US Dollar may impact the precious metals market. However, it is again time to start paying closer attention to the Precious Metals markets, because after-all this is a Gold Bull Market. Let me take you through some of the premium content I shared recently and review what I believe is occurring.
Gold WeeklyGold has finally started that correction, as seen on this weekly chart. Read More
Market Turning Points And Trading
In a recent premium report, I reviewed interesting Market turning points that are showing up across various sectors. I'd like to share some of that with you now. Please note that most of this information was released in the weekend report of May 21st or within previous reports.
S&P 500 - SPX - We see a mild pullback in the General Markets after a strong rally. Not even a 38.2% retrace yet. Many advisors were becoming very bearish and pointing to a possible H&S pattern, with a big drop to come. I see that H&S pattern, but they often fail, as I was more focused on a few other areas that indicated the markets were going to break out higher, not lower.Read More
Using charts like the one below, you may recall that I had been call for a low in Oil in early 2016 and snap back rally in Oil and Energy stocks. Since that time, many analysts still called for another price crash, and that includes Goldman Sachs . Is this important? It is if you missed some of the 100%, 200% 300% gains in some of the energy stocks.
Did you see the news today about Oil by Goldman today? This was the headline.Read More
We are at another Fed FOMC Wednesday. The latest Fed Decision on interest rates will be released today, and usually that means we have to get ready for likely volatility. Today I prepared my premium readers to get ready for the trades that the charts are setting up for. Lets review some of what they saw....
Last Thursday I showed how Oil would have to work its way through resistance, but was still going higher.Read More
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