It’s all about the US dollar right now
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Thanks J, I agree with Rick on the metals and his opinion of Ross Clark, btw.
My 60 minute chart is on a buy signal for GDXJ as of Friday.
Hi Matthew… quick question… but GDXJ is still down today… is it due to back test of the low?
Hi genesys, considering the gaps below and the fact that we did not get any followthrough after Friday’s action, a retest seems probable. Even if we exceed the lows, I think we’ll see positive technical divergences.
http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=0&mn=6&dy=11&id=p74392273615&a=375559987
I should have mentioned that a pullback after a buy signal is not unusual. The 60 minute buy signal remains (meaning this dip should be bought) but there is still no daily chart buy.
If gold breaks down from here, I would expect a new sell signal very soon for GDXJ (60 min).
Insiders are buying…
https://canadianinsider.com/sites/all/modules/home/indicator_chart.php
Thanks for the post Matthew………..something is cooking……….
Interesting fact on the insider buying Matthew. Thanks for sharing!
Thanks Matthew!…
genesys,
be patient gdx and gdxj are headed lower. Mark my words.
Still, buying yesterday’s drop per my buy signal has worked out well, I just sold some GDXJ calls -some of which were up 125%.
I bought back half of the positions I sold and am already up another 47%…
You are welcome Matthew……..
Matthew………I think you are correct on gdxj………..got to be getting close…from a high of approx. 150 to 23…. looks like a good opportunity ….
It’s all in the Yen. As goes the Yen, so goes gold. Forget the rest.
Look at this chart:
http://stockcharts.com/freecharts/gallery.html?$xjy
Then look at this chart:
http://stockcharts.com/freecharts/gallery.html?$gold
Spot the difference? There isn’t any!
Anyone who ignores this relationship does so at their peril.
One day wonder rallies are the sign of a bear market.
SOMETHING IS CHANGING……President O is in China…………signing agreements to extend the time a person can have a visa…………….10years visa, with 6months at a time……in lieu of 1 year ,with 6months.
Inside news has it,,…. Obama was rubbing his jade Buda for good luck, ,, , and hoping to find a pet Panda ,while looking for a 10 year visa to travel along the Great Wall.
666 JERRY ?
Is that the missing social security number , he has been looking for ………..
oh,,,,that is a good one………………appreciate…………j.
Now the pres, can go drag………..along the wall…………….
Careful JERRY ! https://www.youtube.com/watch?v=TNc_IMsGoF8
since, he is now in the WIVES CLUB…………maybe, that was part of the deal china made for swapping treasure notes for gold bars,
J, the US government is doing it all wrong. If they really want to be rolling in bags of money they need to make an app. Here is an example of how much money one can make: http://www.zerohedge.com/news/2014-11-10/broke-living-basement-negative-savings-what-millennials-spend-their-money
some of the problems with the millenials……….the generation of women before them did not TRAIN UP A CHILD, as called for …….now the millenials are going to be a burden on the preceding generation, with no job, to much school debt,(which the moms and dad are cosigners on,,plus grandma and grandpa cosigners)………The basement dungon , will be be the REAL DRAGON AND DUNGONS , played out before they cut off the elect for non payment.
This is bad. The ranking is such an important language in Chinese diplomacy. The displeasure from Chinese side on US and support for Russia is very obvious.
I WONDER HOW MANY GOLD BARS………..Obama will get for doing this visa deal…..
I think Rick has been trying to pick a bottom in gold and a top in the stock market for the past 4 years.
Entertaining to listen to ther analysis butin my opinion it’s all purely a guessing game at best. If did know where the direction gold was going to be at they all would be gazillionaires.
Unfortunately right now it is a very tough game to pick a top in the market. It just keeps on moving higher.
That’s my point why is he trying to pick a top over the last 4 years on a 5 year bull.
Shouldn’t he of been picking an entry point.
Same thing holds for gold he’sneen trying to pick a bottom for the past several years on a dwontrending market.
Rick could that something big be when the republicans shine the light on our massive debt than can never paid back.
Rick,
I agree I have a short term target of 90/91 for dollar.
CFTC………just put out a report……and some of the inside info….indicates a reverse in the shorts turning to long contracts in SILVER…………the article is at kitco…….