What Were We Expecting? What Are We Seeing?

/34 Comments/in /by
Nov 14 -  Morning Report   I had a report written by 9:15 A.M. today  showing positive signs in the Gold overnight, which were leading me to believe that the "WEEKLY" charts would end with GOLD putting in another weekly  reversal candle. The action yesterday in Miners was mentioned in yesterdays report and I said that GDX had broken below its recent uptrend line and would need to recover to be a shake out and not a break down. It has.  GDX & GDXJ are both WELL ABOVE their 10sma & Volumes today is strong. So based on all the reports from me for the past week or so- what do you think we are seeing?  Yesterday there was weakness in the Miners &  I posted an update  report saying that DEC 2013 lows had a momentary flush of the lows and 'possibly' we could see the same, but I still was not expecting a PLUNGE lower to $1000 or $800   (YET)  .  I have been saying that I expected that we are at lows and would have a nice rally for at least the next few weeks.   I will now share a couple of the charts that I had for this mornings report, but Gold & Silver have exploded higher and I will tell you what I think we are seeing here and how you can benefit. At 9:00 A.M. I was going to point out that GOLD held prior support & Reversed ( That was Bullish) (Click to enlarge) GOLD 4 right now   As I was finishing my report at 9:15, it started to break higher  (breaking out?) GOLD CURRENTLY NOV 14 Then... Read More

Nov 13 UPDATE

/2 Comments/in /by
2:45 P.M. Nov 13.   (I apologize for the late "Alert" , the auto Email alert system apparently was down when I posted this)   Many have asked that I occasionally show what I watch during the day  and post here.  I don't want to watch and report on every little wiggle, but there are interesting things to look at . Especially since this mornings report I showed a possible stab at a lower low still fitting the cycle counts & Elliot wave ,etc ...so let me show you quickly what I am watching.  it is more bearish for Gold Miners, but...so far GDX and GDXJ  do remain above the 10sma on a daily chart  (not shown) .  So these are the intra-day wiggles that I look at.  More charts / less words here so I can post quickly . GOLD looks fine  (so far) ...many shake outs , but regains support areas.  (Click to enlarge) GOLD AGAIN   If  "MINERS LEAD"..are they holding up ok?  They remain above the 10sma so far,  BUT...   Read More

Nervous? Heres a different perspective

/15 Comments/in /by
Mid day update /  Miners selling off  writing at 12:05 p.m. When I start seeing a sell off in Miners after I feel that I've done all my homework , I dont panic - I just need to look and see what might be happening. What (if anything) should limit the sell off? Is it normal? is it ugly or extreme?  So lets review a couple of quick charts that I threw together and see where we might be .  First off, GOLD is not selling off , but are Miners leading? What do I look for with GOLD?   GOLD  (Click to enlarge)   GOLD NOV 12   So Gold is holding up, what about Miners? Are they shaking some out, or are they about to collapse?...   Read More