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So by the end of next week we should know whether or not gold has one more leg up to around $1425 (or more) short-term? I agree with Al that Gary gives specifics on his targets for gold and right or wrong you can judge his analysis. Glad to see someone willing to put his neck on the line now and then.
sounds like anything can happen. Which is probably true. Near term Gary gave us range of a low of 1200 to a high of 1435. And said its difficult for Bulls and Bears alike.
Again this is for traders. Buy and hold investors would just like to swing trade a little or with miners know when to sell covered calls.
ie–I sold JNUG at 38ish for a nice profit and bought back in just under 30-to see it drop further but thinking longer term. Put 8 bucks a share into account and still have position is the way I look at it. Do that a few times which I have and I am working with OPM. Then, when we have the really big move up JNUG prospers–
I really though the miners and metals had broken out a week ago but the Fed, equity option expiry and futures expiry apparently got in the way. With a little help from some big players who can move the markets especially overnight.
Well said by you at the end when you complimented Gary. I concur wholeheartedly, and appreciate Gary for what I have learned.
I had bought some GDX calls this morning thinking we had a swing in place for Gold.
Two hours later however I sold out since there wasn’t any follow through.
Sure missing the old style of site and hope to get it back soon.
Is this day 35 or 15 in Gold ?
Next week is futures expiration for April Gold. First Day Notice is on the 28th. For sure, the cartel will try to smash gold to dissuade the longs from standing.
Gary is a peach! His subs are down over 40% over the last 18 months and he’s still pretending that his commentary is meaningful. Fade the climber or peril.
The commodity portfolio is up 11% so far this year, metal portfolio up 5% plus we still have open trades that haven’t been closed yet, stocks almost 3%, currencies 1%, and the bond portfolio down slightly.
All portfolios are unleveraged and typically scale into positions.
Obviously unless you have admin status it would be impossible for you to know what my subscription levels are. (Of course trolls have no interest in the stating the truth when it’s easier to just make up numbers to fit their agenda)
Granted every gold site is down because we just went through a bear market. That one is a no brainer. It’s about 15% from the peak in the fall of 2012 BTW, although it’s quickly coming back now that gold is back in its long term bull market.
If you had faded virtually any of my calls over the last year you would have lost money (unless you were day trading. My entries and exits aren’t day trading recommendations. I readily admit I’m hopeless as a day trader.
Like every system mine breaks down from time to time, but I’ve found over the years that a combination of cycles, sentiment, money flows and a dash of technical analysis give me a decent edge in the markets.
Unfortunately we now have to factor in manipulation in almost all markets also which makes the game even tougher, but not entirely impossible if you keep in mind the intention of the manipulation. This allowed me to call the bottom (in real time) of the recent stock market corrections under the assumption that Yellen wanted the market rising into the Humphrey Hawkins address, and the most recent FOMC meeting.
Hey Gary. Wrong again. Those gains are toast.
Gary what are qualifications to give an expert advice on precious metals and other markets? Did you trade professionally?
This is all i could find, no mentioning of any professional affiliations of any sort, experience at funds, banks etc. anything?
Gary Savage is a 48 year old retired entrepreneur living in Las Vegas. He has been investing in stocks and commodities for 10 years.
He publishes the Smart Money Tracker, a daily market newsletter available to subscribers along with the SMT blog tracking mostly stocks and commodities.
He also follows the COT reports as a way to gauge commercial sentiment in the stock and commodity markets.
*Gary what are your qualifications to give an expert advice on precious metals and other markets?