Targets for Copper, GDX and GDXJ
To kick off this Friday I get Rick to pull up his charts and share with us some targets he has for Copper. GDX and GDXJ. We also discuss why Rick focuses so much on prior peaks in the charts. It has to do with investor sentiment at those levels for the ones who are in a loss position.
Click here to visit Rick’s site and at the least I recommend signing up for his free daily tout.
Click download link to listen on this device: Download Show
COPX looks like a sideways trade for a week or so , then on upwards.
Price Support Pivot Point Resistance
24.61 23.79 24.53 25.27
Had good volume a few days ago, but now lower volume.
https://www.youtube.com/watch?v=S81AGnf0lmY
Epstein, Linn Group metal Report.
Note Indonesia fundamentals.
https://www.youtube.com/watch?v=Xwvo3RxCXM8
Epstein, Linn Group Ag report.
Linn Group Today’s Morning Flash:
https://www.youtube.com/watch?v=Xwvo3RxCXM8
TF Metals A2A:
http://media.tfmetalsreport.com/audio/A2ABrentJoJan17.mp3
VIX tags 10.30
If I’m not mistaken, that’s the lowest in 5 years (surpassing 10.32 in July 2014).
Hmmm…
Actually, I can’t find a lower number going back to 1990 !!!
Please correct me if I’m wrong.
I’ve got 10.60s in 2007 & 1994 but no 10.30. Ever.
Worth a position now I think 🙂
Tad – see the chart below – the VIX was down at 9.39 in 2007.
I agree that 10.30 is pretty freakin’ low though……
http://stockcharts.com/h-sc/ui?s=%24VIX&p=D&st=1990-01-01&en=(today)&id=p64188092225
Tad – thanks for pointing out 1994, as that longer range chart I posted register those lows for some reason.
Here’s a chart drilling down in the VIX from 1992-1997:
You’ll see 9.31 in late 1993 and 10.36 in late 1995 and a few other times down in the 10-11 zone.
http://stockcharts.com/h-sc/ui?s=%24VIX&p=D&st=1990-01-01&en=1997-01-01&id=p99629846909
Excellent. Thanks Ex.
I have a really clunky way of looking it up… that’s a much better chart than I have.
Definitely not much downside risk at the current position I feel.
Tad – It was fun to research that time period in the VIX. Thanks for making me take a look.
Tad – I added some UVXY yesterday, but am down about a percent from that entry. That’s fine by me because I want a little chaos insurance going into next week for month end and the kickoff of February….
If there is a volatility spike next week then I’ll probably sell into that strength. Cheers!
Smart move EX man!
Well, that remains to be seen, but there is much more room for an upside pop than much more downside pressure. For some reason the markets are just levitating higher and higher without traders do much hedging with options and without a care in the world…… That won’t last forever.
Hi Shad :
Saw you added to your uvxy position yesterday.I took a look and shazam.
I love the chart. I call these set ups flatliners below zero,referring to the MACD.
This set up has produced some of my best winners.
http://stockcharts.com/h-sc/ui?s=UVXY&id=p27301355205&listNum=17
Low volatility begets high volatility.
High volatility begets low volatility.
Beware the head fake at the start of a new move.
Agreed JohnK. 2017 is going to see volatility come knocking again, and will likely catch most mainstream investors off-guard. It looks due for a spike IMO.
Can Uranium Be Great Again? Chart: Visual Capitalist
JEFF DESJARDINS on January 27, 2017
http://www.visualcapitalist.com/chart-uranium-great-again-trump/
Only a fool thinks he can time a top. Even so, I do believe the general markets are rolling over…Great bearish divergence in the daily indicators for the Dow and S&P, and swing highs as well.
http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=2&mn=6&dy=0&id=p96890545433&a=482818753
Latest David Morgan:
https://www.youtube.com/watch?v=rBR3JdctsB8