Thursday and The Doctor Is In
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If gold is going to do better than gold stocks then maybe a gold ETF like HGU in Canada? I may sell some of my measly profitable stocks and do just that.
HBU not HGU
Hi Franky,
I have said over and over again, I am in gold and silver not for short term profits but for protection. I don’t think that there is any better protection out there!
Did you get a translator Franky?
YES WHAT YOU THINK OFF ? ProShares Ultra Silver ( ETF ) UVXY ? THANK’S dan !
IMHO (amateur) that chart looks very healthy (;-) Lower lows but the RSI is strengthening on higher lows.
THANKS HA HA ! Dan iam intreste in HGU thank’s ! NEW little low i buy same UVXY Dan What you think profestionel ?
Here’s the link…
THE fed must be late with their payment………..no credit allowed…..cash only…stocks going down………….the big boys are sneaking out the back door.
Global economy…………the US STINKS….to much regulations…..Check the shutters on the store fronts.
Interestingly enough, the markets are coming back.
Go figure, In the Box!
I think they painted the shutters before they moved out all the carpeting, furniture…and even those nice hardwood floorboards after they found linoleum at a yard sale.
IT is so bad………RETAILERs HAVE THE CHRISTMAS decorations out….early.
They had Halloween out in July. I guess will be seeing Easter decorations in December.
Good point In the Box.
Gold looks very good to me.
http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=1&mn=0&dy=0&id=p37095441204&a=367587700
For the Canadian market…
Dan.. but HGU is miners?… Matthew is making the case for metal though…. apple to apple would be to compare hgu with gdx?
My mistake… thanks for pointing that out.
Try this one…
THANK’s MATTHEW ! GENESYS ! AND DAN ! HBU ! THE REAL 1 ! Waht YOU ALL THINK OFF UVXY ? A BUY ????????? PROFESSIONALS ?
Franky I’m not gonna brag what I dont know.. I have little idea about charts… wait for chartist like Matthew and others.. 🙂
Franky, UVXY looks ok if you really know what you’re doing. In other words, anyone who has to ask about it probably shouldn’t touch it.
Thank’s Matthew ! I now all diss needs more time Thank’s !
PHYS weekly is improving…
http://stockcharts.com/h-sc/ui?s=PHYS&p=W&yr=5&mn=3&dy=0&id=p19174773273&a=370904138&listNum=1
Silver looks very good to me.
http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=5&dy=0&id=p69159383453&a=370667383
Thank for all the charts Matthew.
+1… (aka thanks too for the chart)
You’re welcome. Here’s a 5 minute chart of GDXJ starting at yesterday’s open.
http://stockcharts.com/h-sc/ui?s=GDXJ&p=5&yr=0&mn=0&dy=2&id=p64037477482&a=370906648
Matthew,… gdxj comes down a lot than yesterday’s open but still holds well above its low…King dollar seems to want to fight the Fed even though I agree with you it’s odd gold holds pretty well… man… any thoughts, please share… LOL
Genesys, after yesterday’s action, today’s doesn’t surprise me or worry me. Take another look at the 5min GDXJ chart above (it automatically updates) and notice the subtle and not so subtle bullish clues. I think it is healthy that the price pulled back to test yesterday’s pre-Fed opening price for the session. Notice that the turn from there, the low for the day, happened with a higher RSI reading. That is a bullish divergence. Also notice that the rally into the bell exceeded two prior peaks and did so on very bullish volume. I can’t be bearish here.
Enough of the micro, here’s a macro look at gold (monthly chart).
http://stockcharts.com/h-sc/ui?s=$GOLD&p=M&yr=20&mn=11&dy=30&id=p22213010418&a=367847899&listNum=1
It’s hardly menacing.
Thanks Matthew… I think only stock-chart member could see your 5-min chart.. but I get what you depict… I was looking at UUP today it seems holding up from yesterday on lower volume… MACD heading down… would you happen to have the same opinion that it confirms the bullish stance in gdxj or extending to even the whole PM complex? Or UUP/USD does not even matter as gdxj alone is self-evident?… (trying to pretend to know what I’m talking about here… 🙂 )
Sorry about the chart. I wonder if the monthly one even looks how it should…
As for UUP, it is a sell on the daily chart and it remains overbought on the weekly chart so I don’t like it at all. Plunging markets can put a bid under it for awhile, but I think today was nothing more than a bounce. Try the following link for the 5min GDXJ chart.
http://stockcharts.com/h-sc/ui?s=GDXJ&p=5&yr=0&mn=0&dy=2&id=p08191917155&a=370906648
Meh… no luck… it collapses into just two candles… But thanks for UUP!
Darn, sorry again. 🙁
SILVER ALWAYS LO^OKS GOOD……………….J..THE LONG………..
Free markets do not exist in the USA……….we are now 37th. in FREEDOM………..to much GOVT…………….to MUCH Repub/demonic cates…….
I don’t know In the Box, I can go out and legally buy pot!
AL……A glass of good red wine & a joint……naaaaa…haha
Been 40 years since the j and six weeks since the red. Now the occasional vodka and weak beer. (Down 25 pounds!)
Getting to be littlier Al.
Al, Doc and Rick seem to have differing views regarding short term gold prices…unless it’s just my misunderstanding? Could you host them together regarding gold price expectations in the short term?
proud…….That’s what makes them unique.
In the FWIW category:
Dan Norcini reports that yesterday in the big gold rally day, GLD holdings dropped by about 5.5 tons. Also, the US dollar index held today and bounced higher off of its former resistance at 85.
These 2 snippets make me wary still about gold as an investment in the near-term.
Power that be will steal the gold in GLD. I am not surprised.
why hasnt anyone brought up the fact that the drop in oil will lower mining costs….
Sally if you have followed my post ive been very clear on that perspective. I have gold going below 60 in due time. 78 is the next resistance target i see.
What a trade it would have been to short Crude!! Perhaps it still might be beneficial?? I keep thinking it must be too late, and yet Crude keeps going down!
Derek…..PPT..comes to mind.
irishtony,
I get it, I think. I believe you are saying caution, here. Pretty sure I am not really thinking about shorting Crude here. I missed the move, and it would be silly to try to chase it now.
Probably right Derek.
because right now the market does not care. QE and Rate worries and USD strength is what matters right now
I don’t think mining burns crude oil. Refined products do not follow crude.
Added this afternoon to my long positions in the 3X etfs….this is not in anyway a bottom call just a trade from the long side, how long I hold it I have no idea I’ll let the charts tell me I’m wrong.
Still firmly in the camp, the bigger % gains will continue to be holding short positions within the pm’s sector.
In the big Bull picture gold needs to close on a weekly basis way, way higher from here and that’s not going to come as long as the $ is in a bull run, yes the $ will pull back and give the bulls nice % gains as the Dec and June lows did but traders have been selling every decent advance making great gains off those short positions.
Nothing has changed no point in calling for $2000 or $500 we just continue to trade $1200-$1400….works for me
Al- can you understand its also India buying gold…
sally……Old Irish proverb……Man with brain in head ,him buy gold , him with no brain he buy paper.
Sorry I lied about that being an old Irish proverb………….I just made it up, but you get my point….I hope.
Still an Irish proverb just not old.
Thanks..JM.
Yes I can Sally
Dow down 334 points, beware of “air holes” tomorrow morning, that is when you see stocks for sale with no bids in sight, a bankers worse nightmare.
October is always dangerous, provided there is no FED or PPT support
Lawrence……The PPT are always supportive.
So it is so hard to trade now. It depends on a few people. No statistics will work.
This level of volatility should trigger massive selling IMHO. It is typical on top and bottom.
Let’s see Machine Gun! You could be right.
S&P 500 Seasonal Chart
http://charts.equityclock.com/seasonal_charts/futures/FUTURE_SP1.PNG
Looking for this to more than likely play out. Will see.
Biggest up day for the dow yesterday and the worst day of the year for the dow this year and the pros on cnbc are calling this a great buying opportunity.
Confusing markets. Concrned that the overall market could drag the miners lower. I read recently that Charles Nenner ‘s gold buy signal was a close above 1223.. Bob Mchugh’s HUI indicator is still at a sell.
Listen to the Daily with Gary. Thanks for the comment.
Biggus,
Was Nenner’s 1223 close buy signal a daily, weekly, monthly, quarterly or yearly close though ?
I only ask as this is often a twist on words IF they are wrong in the short or mid term (leading to losses for those who take advice)…..but scream they were correct long term when the called close eventuates.
there is a big difference.
skeeta….i assumed it was a daily close. This is what was passed to me…Gold came very close to our longer term downside target of 1180 (with an intraday low of 1183.3) which, per our system, is close enoughDaily Gold cycles are very close to their projected cycle lowHowever, in order to get a buy signal, we need a close above 1223 (DEC)Silver needs a close above 17.50 (DEC) to cancel its sell signal
THANK’S RICHARD ! ! A QUESTION ! Does ( AL AND CORY ) still love the GOLD market ? That’s important to know for listeners ??????