Thursday and the Doctor is in
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LPG, I attempt to divine possible scenarios. The current one that I have at the top of my list is the dow/gold ratio which is very close to reaching a triple top. In fact it wouldn’t surprise me if we get there quicker then I think. That top I’m looking at is about 13.65-13.70. We could reach it in the next 5 trading days. Anyway, I believe we’re very close to a potential blow-off top on the conventional markets. It wouldn’t surprise me if we see a key reversal day coming up very soon. Even if we see that top and the conventional market goes south, I don’t necessarily see gold spiking the other way right away. The PMs are telling me we need a little more work on the downside. Hope that helps——watch the dow/gold ratio in the next 5 trading days. If we take out the previous highs and keep going then all bets are off. However, looking at the wide bollinger bands on the daily dow/gold chart, that would be quite unusual.
Hello Richard,
Thanks for the (prompt) and clear response.
Best to you,
LPG
Hello Richard,
Often you comment that you are buying certain gold stocks and adding to positions in others. Is it not possible to share the names of these companies with your listeners?at? This would not be considered investment advice, just disclosure as to what you are personally doing. Thank you so much, Aida
Aida, I would be happy to share this with you—-I’m getting ready to purchase others since I’ve been waiting for this pullback. I own RIC (Richmond) that recently blew out the expectations on their quarterly report—-in fact Zach’s had a sell rating on the stock. It had a 100% move and is now starting its’ consolidation and is correcting, I also am purchasing AUQ (Aurico) at these levels since the TA does not look bad. I’m waiting now to purchase more when I believe it’s bottomed. I also have been purchasing NUG.V (Nulegacy) since the TA looks solid right now. That also goes for MGH.V Minco). These are all gold stocks and I’ve owned GDX and GDXJ in the past and sold them when they topped recently. I’m waiting for them to continue in their pullback and will then purchase them again. Silver stocks that I’ll repurchase will be GPL (Great Panther) and PAAS (Pan American Silver). I’ve just bought a small position in EXK (Endeavor) which I’ll add to on a pullback. I might add that I also have purchased NG (Novagold) and will purchase more soon. I’m watching SA (Seagate) and will purchase when it pulls back more. I’ll also purchast a little of Nem (Newmont). I’ve also begun purchasing MUX (McEwen)—–it looks like it may move a little lower technically—–I’ll purchase more. Hope this helps.
RICHARD ! Ask GARY no CHRISTIANS ON THE MOUNTAIN ? Thanks for the stocks you love !
Aloha Richard! Thanks for you specific ideas. I now feel better about owning PAAS, EXK, NEM, and MUX. I’m wondering why you did not mention HL and SLW which you have mentioned previously? And how about AG ? Thanks for sharing your wisdom.
Bonzo, sorry about missing HL—–I will be purchasing it very soon. As far as SLW is concerned, their quarter was not up to expectation and they’re pulling back. I’ll consider purchasing it when it gets down to at least $23.50 (which it will).
Thanks Doc. As for SA, have you looked at Pretium PVG which is adjacent to SA’s property but seems to have much richer grades of gold and very good management?
As for NEM, all the experts seem to prefer GG, but NEM has a lot more leverage if gold goes to the moon, so I’m happy to see you like it.
Doc, I appreciate the “Not Investment Advice” — Add that to the list of possible newsletter names! 🙂 (I’d buy it.)
Canasil Resources up over 6%., Corvus Gold up over 10%.
As you know Reverend I own them both.
Richard, I’ve saw at the gold monthly/chart that we got the “golden cross” on the MACD indicador. It could let us to a new BIG bull market? What do you think?
All the best.
Doc what are your GDX and GDXJ pullback price targets?
Doc you’re consistent. I really like that.
Stewie, follow the GDX since the GDXJ will track it. The minimum for the GDX will be $24.75 plus or minus a few cents. When it hits that area (and it will), I’ll be able to give you more of an insight for where I expect it to move next. Of course, when it hits the area mentioned, it may just be an intraday move. Hope this helps.
Doc that’s a pretty big hit you’re expecting from gdx. Thank you and it definitely helps a lot. I appriciate it much You and Gary’s input.
Peter, the 12 month MA on the MACD is attempting to cross over the 26 month MA. It hasn’t yet but your point is well taken. It’s one of the techincals I’m watching closely. If we’ve bottomed out, it’s an indication that the move up from gold in the future may be a lot more gradual then many individuals think—–to see a significant move, the 12 month MA would have to decisively cross the 26 month and create space between the 2 MAs and start to move toward the 0 horizontal line in a more steeply fashion.
Thank you for your prompt answer to my question and for sharing your stock ideas. I own Eldorado Gold (eld) and MUX and will look into some of the names you write about.
Richard (“Doc”): Off topic: Theralase
I visited the Princess Margaret Cancer Centre last week. Not as a patient. I am helping a company develop a medical product related to prostate cancer.
I have visited many, many clinics and hospitals over my career (20 years developing medical products). I was VERY impressed by my visit. There was a lot of activity (compared to U.S.A. sites), lots of patients and family members, and an overall good feeling to the site. The medical staff I met were top-shelf (sorry for the scotch reference)
My confidence in Theralase has increased by being on-site and seeing, first hand, the high level of medical care that this site provides. Theralase must be THRILLED to be associated with Princess Margaret.
I don’t get to kick rocks at silver mining sites off in the Yukon, but I can occasionally provide some first-person info on the other stuff. Hope this helps. Unfortunately, I cannot be any more specific due to NDA.
Brian
Many thanks Brian!
Brian, that’s good info. Princess Margaret has a sterling reputation. They’re not a “schlock” outfit. They must feel this area has merit and wouldn’t just associate with anyone. I’m also impressed with theralase CEO’s knowledge level. If the light stimulation of the PDCs in bladder cancer is as effective as other modalities; the fact it’s so non-invasive should make it another alternative in the treatment of bladder cancer. Time will tell.
HUI heading for big fork support:
http://stockcharts.com/h-sc/ui?s=$HUI&p=D&yr=1&mn=3&dy=0&id=p54038216217&a=364007429
Fork will not hold.. 225 minimum on hui
is that anything …like “fork over ” the gold………
or is it like a “fork in the road”………..
Hello Richard,
Could you please elaborate a little on some of the charts you’re looking at and which you eluded to at the very end (last 10-15sec) of your interview today?
i.e those charts which lead to believe we might be close to a final bottom in gold ?
Thank you in advance if you can.
Best to you,
LPG