Recapping 2016 – The Transitional Year
Chris Temple joins us for a year ending market wrap. The top preforming ETF was GDX which closed the year up almost 50% is a big change from the past 5 years. The US markets also finished higher, especially the Dow which was up 13% after a sideways prior 2 years. I’m excited to see what 2017 brings… I hope you are as well.
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Tax loss selling often occurs at year end.
However, since the Dow has gone up this year, people are holding more gains than losses.
It makes more sense to take gains in the next year.
Likewise with mining stocks.
GDXJ beat GDX by a mile at +72% and GOEX and SIL did even better at about +80% each.
At +140% for the year, SILJ beat them all.
The 60 minute chart for GDXJ points to more downside next week…
http://stockcharts.com/h-sc/ui?s=GDXJ&p=60&yr=0&mn=3&dy=0&id=p44654521842&a=486690674
Through a couple dozen miners and my good, bad and ugly decisions, my portfolio finished the year 4.2 times higher (4.8x from the January low).
Well done Matthew and many thanks for your posts in 2016.
You’re quite the guy Matthew. Me I just remain a plodder!!
Very best for 2017. A
Matthew, I would like your take on how you see The US dollar performing in 2017, it appears to be consolidating but it’s performance is crucial for gold investors. Do you see it moving much higher next year and how do you think gold will react to it’s ascendancy. DT
DT, I think it’s next significant move will be down. After that, maybe the bulls will finally get the move they’ve been predicting, but I doubt it.
http://stockcharts.com/h-sc/ui?s=UUP&p=W&yr=6&mn=1&dy=0&id=p80661866457&a=496478749
Thanks Matthew, and happy New Year to you and all! DT
I see the dollar going back down to 80 on the index.
This will send gold and Bitcoin both to $3000
Avery B. Goodman provides some food for thought here: JPM buys…..http://averybgoodman.com/myblog/
That move in the dollar could take years and gold to 3000 cannot happen in the next 5 years.
I don’t want to beat a dead horse, but I’m going to post this announcement once again.
There have been close to 90 different investors focused on the resource sector offer up their top 3 picks in the 2017 Stock Picking Contest over at CEO.
It is a treasure trove of investing ideas so I’m going to post the link one more time:
There have also been break-off 2017 stock picking rooms today.
Here is the “Swing For The Fences” picks:
Here is the “Bonus Picks Showdown” room where people that couldn’t just pick 3 and had a 4th pick put their wildcard stock picks for 2017:
Lastly, this last 2017 Stock Picking contest room is for the stocks that Investors felt would be an easy double or triple in the coming year, and they are less speculative and a bit more stable (if there is such a thing with mining companies)
“Safest Stock Picking Contest” (for clarity they’re all risky – these are mining stocks)
Thanks.
Thanks Excelsior
Excelsior,
Thanks for all of the quality info.
Ever upward 2017.
Ever Upward Chartster!
Well, 2017 isn’t shaping up to be very good tax wise if you’re a single tax filer making between between $112,500 and $190,150, or a joint filer earning between $225,000 and $231,450.
If the above applies to you, you’re going to be kicked into a 5% higher tax bracket.
So much for Trump being better than Shillary.
WW3 has not started, yet, so I think he has proved better than her so far. That Syria no-fly zone thing she was hell-bent on would have kicked off the biggest war since WW2 – and this time US cities would not be safe from attack.
Next Year ! Happy New Year ! https://www.youtube.com/watch?v=4ZaHJ4z3JP0