They Look Really Bullish

/38 Comments/in /by
Nov 15, 2014 Weekend Report I was driving to a formal event today when suddenly I saw what appeared to be a 'sign' on the side of the road, so I pulled over and there we were...3 of us looking pretty bullish ! For my 2 new friends it came naturally, but for me it has been building for over a week.  If you recall my article written pre-mkt last Friday (Nov 7), I felt that I had seen a legitimate "SHAKE OUT" in the overnight action and said that I was buying in the pre-market . I also mentioned that confirmation would likely come this week and I outlined briefly what I would be looking for.   (If you're new here, you may want to read the articles outlining my expectations. A short one last Friday is here  Scary yet Beautiful    Or   the weekend report Bears get tired too)...  We will now review whether  conditions have been met to increase the likely-hood of a Bottom being put in place Friday Nov 7 for GOLD, Wednesday for Miners.  ALSO I NEED TO BE CLEAR...A Bottom here would not necessarily mean THE BOTTOM at this point, but certainly weeks of gains.  To the Charts! AUDIO version  here  click here then click 'download' & 'OPEN' to play -Then come back & follow the charts Last Weeks chart - Broke 1.5 yrs support and MOST called for a cascade sell off . To me, likely a SHAKE OUT. GOLD WKLY   BEARS had MANY reports of a "Break down in Gold & Imminent crash targets" (I know because 5 of my readers emailed me those reports! ) Some were fearful and others concern for my well being...I thank you for that.  HOWEVER-   Read More

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