Category Archives: Metals

Gold vs…

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By Biiwii

Note: Well, a normal post became embittered and vitriolic by the end. What better place to post it than SoH, a renowned bullshit-free zone?

Note: Hey, go check out the new I think it’s pretty cool.

An update on Gold vs. stock markets, as at yesterday’s close. These charts have improved today, but there is still no conclusive change in trend in gold vs. stock markets. There could be some short-term chop if for example, SPX decides to rise again (I am not necessarily buying – or should I say selling? – today’s post-FOMC drop, though I have started to position that way, while holding a few longs that are doing just fine today) to the upside target of 2040 +/-.

[confusing language alert:  the above attempts to say that I still hold a few longs but started shorting the market on yesterday’s post-FOMC hysterics] (more…)

Juniors Divergence

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I’m not sure where SHJ is this morning, so I’ll do just a quick comment cleaner. I pointed out on my Tastytrade show yesterday that gold and miners were finally starting to show the potential for strength. Juniors in particular had a nice series of higher lows. That observation seems to be panning out so far this morning, with a 4%+ rise at this point.


Anything But Precious

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Three words spring to mind. Just three words: Precious. Metals. Suck.

The most damning evidence recently is that during the market chaos on Monday, precious metals were weak. And during the market strength/relief rally recently, precious metals have been even weaker. So: damned if you do, damned if you don’t.

I was cheerfully short gold yesterday. I covered at a good profit. I stated on my Tastytrade show that I was “no longer bearish” on gold.