Category Archives: Metals

The Recent Metals Action Is “Causing” Me To Change My Life

By -

I have made a ground-breaking discovery this past week.  It is so earth shattering, that it will literally change the course of my life, and may cause you to change yours as well.  Let me explain.

Maybe you believe that the stock market volatility was the reason the metals rose?  Well, the S&P500 is within 2% of its all-time highs, yet the metals have continued to rally alongside the market.

And, maybe you believe that North Korea is the reason that the metals have rallied?   Well, I have dealt with that issue last week, so I do not have to re-address it here again.  But, suffice it to say that anyone who has really followed geopolitical events will know that gold has moved in completely opposite directions during such tensions through history, and they will never provide directional guidance for the metals. (more…)

Copper, Oil, Gold and US Stocks: Big Picture Status

By -

Sometimes I like to trot these lumbering monthlies out so we can quiet everything down and see where various markets are slowly heading.

First of all, as I go down with my ‘strengthening US dollar’ ship*, I also mal-projected copper’s upside. I’d felt that $3/lb. would cap Doctor Copper because it is very clear lateral resistance at a handy 38% Fib retrace.**

copper (more…)

Bullion Buffoon

By -

It wasn’t that long ago that when I felt like it was a good time to buy gold (that is, real gold you could hold in your hands), I would go out and buy some. But after a while, gold wouldn’t be doing that well, and I’d sort of realize that there was really no scenario in which it would be useful to me (e.g. there would never come a day that everyone was starving since Whole Foods would ONLY accept gold, and I’d be able to feed my family due to my good planning). So I’d dump it.

I thought I’d show when I bought and sold bullion, thinking it would reveal Gartman-like levels of bad timing. It turns out it wasn’t THAT bad. It was sort of bad – – buffoon level, I guess – – but nothing horrendous. Below I marked in green the buy points and in magenta the sell points.

0905-gold

(more…)

GOLD Approaching Neckline of Reverse Head & Shoulders

By -

It looks like a a massive reverse Head & Shoulders formation could play out nicely if GOLD can break and hold above its neckline (and converging 40% Fibonacci retracement level) around 1376, as shown on the Monthly chart below.

Longer term, we could see an eventual run up to converging major price and 60% Fib retracement resistance around 1600. Watch for, not only a continuing rise on the Momentum indicator, but also an increase in its velocity, should we see such a sustained neckline breakout, as confirmation of bullish commitment.

Gold and Miners Finally Bust Out

By -

As I wrote to my PLUS members on August 24th regarding junior miners, “..…as I look at the miners, I’m seeing signs of life. If you believe the breakout is meaningful and want to amp up your commitment, a good way to do it would by via the triple-bullish ETF symbol below, which itself has had a clean breakout from a rather long downtrend.

Well, it didn’t take long for this to blossom, as gold has broken out smartly………

0828-gld

(more…)

Does Your Neck Hurt Yet From The Metals Action?

By -

Reading most metals analysis in 2017 has been like watching a tennis match with the analysis going back and forth over the net between bullishness and bearishness.  As the market reaches its highs, analysts turn bullish, and as the market reaches its lows, analysts turn terribly bearish. And, when the sentiment of the market has reached these extremes, it has marked the point in time when the markets have turned.

As I have also tried to warn all year, anyone who uses trend lines as their primary method of analysis has been terribly whipsawed, as the metals love to exceed trend lines right before they reverse strongly.  This is one of the biggest reasons many have become terribly bullish at the highs (right before the market has reversed), and terribly bearish at the lows (right before the market reversed as well).  So, does your neck hurt from all this back and forth during this whipsaw? (more…)