Richard Postma - The Doctor Is In – Tue 9 Jul, 2019

Technical updates on gold and GDX

Doc joins me to field a couple questions on the gold and GDX charts. Gold is still nicely holding above the $1,370 breakout level while GDX has some gaps left by this recent run.

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Comments:
  1. On July 9, 2019 at 1:44 pm,
    Anders from Copenhagen says:

    Hi Doc/ Cory.
    Thanks again for all your efforts ๐Ÿ˜Ž
    Can you recommend a book explaining the โ€˜left translated cycleโ€™?
    First time I heard Doc mentioning this, was back in October 2015, in a hefty discussion with Gary Savage.
    Anyway – what source can you recommend, if I want to learn more about cycles?

    • On July 9, 2019 at 3:25 pm,
      Matthew says:

      This might help a little:

      Cycle Length: Lows are usually used to define the length of a cycle and project the cycle into the future. A cycle high can be expected somewhere between the cycle lows.

      Translation: Cycles almost never peak at the exact midpoint nor trough at the expected cycle low. Most often, peaks occur before or after the midpoint of the cycle. Right translation is the tendency of prices to peak in the latter part of the cycle during bull markets. Conversely, left translation is the tendency of prices to peak in the front half of the cycle during bear markets. Prices tend to peak later in bull markets and earlier in bear markets.
      https://school.stockcharts.com/doku.php?id=chart_analysis:cycle_lines

      • On July 11, 2019 at 1:17 pm,
        Anders from Copenhagen says:

        Cheers ๐Ÿ˜˜

  2. On July 9, 2019 at 2:18 pm,
    bonzo b. says:

    Hi Doc, do you own any NSRPF or OPYGY? How far could they fall this summer? Thanks.

  3. On July 9, 2019 at 4:47 pm,
    Matthew says:

    During the bull market of the last decade, it was a rare quarter that did not see gold pierce the 5 quarter ema before moving higher. That level is currently 1347.
    Sorry, most won’t be able to access the following chart:
    https://stockcharts.com/h-sc/ui?s=%24GOLD&p=Q&yr=35&mn=11&dy=30&id=p71029912135&a=673508560

  4. On July 9, 2019 at 4:53 pm,
    RICHARD/DOC says:

    BB, I owned Novo months ago and when it spiked, I sold it. I’m getting ready to purchase some again in the near future.I hope to purchase just below $1.50. I don’t own OPYGY and don’t know much about the stock.

  5. On July 9, 2019 at 5:15 pm,
    Paul says:

    Doc where to you see gdx pullback target range if gold tests 1360 level? Thanks

  6. On July 9, 2019 at 5:23 pm,
    Matthew says:

    Since the low last summer, gold gained 23% ($275) while GDX gained 53%. Neither showing is insignificant and I expect a very good second half of the year with the miners doing much better versus gold.
    https://stockcharts.com/h-sc/ui?s=GDX&p=W&yr=13&mn=6&dy=0&id=p07984304007&a=675431182

  7. On July 9, 2019 at 5:47 pm,
    Matthew says:

    $GDM is approaching what should be significant resistance:
    https://stockcharts.com/h-sc/ui?s=%24GDM&p=W&yr=4&mn=7&dy=0&id=p93798701009&a=631002072

  8. On July 9, 2019 at 5:58 pm,
    Matthew says:

    Those who understand our fractal existence can see that gold’s all-time high will fall easily:
    https://stockcharts.com/h-sc/ui?s=%24GOLD&p=M&yr=25&mn=0&dy=0&id=p75769761946&a=366074617

    • On July 9, 2019 at 7:24 pm,
      Bonzo Barzini says:

      If gold went up about 8 fold from 2001 to 2011, it could easily go up 3 fold or 5 fold or 8 fold from the low of 1050 in the next few years. Rob McEwen expects gold at 5K, but 8K is very possible. We’ll be fine even if gold goes to only 3K which could take silver to 100.

      • On July 9, 2019 at 7:26 pm,
        Ebolan says:

        You ever run into Butto O’Dorke? Isn’t he your Congresscritter?

        During that “debate” I couldn’t tell if he was running for President of the US or Mexico.

        • On July 10, 2019 at 8:34 am,
          Bonzo Barzini says:

          Ebolan, Butto is from El Paso, about 900 miles from me. I hear that his Spanish is as dreadful as his politics.

    • On July 9, 2019 at 7:45 pm,
      Dick Tracy says:

      Hi Matthew, I am wondering what your take is on the short term direction of the Canadian dollar. I like it where it is now and I feel it is properly valued. Thank-you, DT

  9. On July 9, 2019 at 7:25 pm,
    Ebolan says:

    Can you imagine if an American of Iranian descent did this?

    http://www.unz.com/pgiraldi/spying-for-israel-is-consequence-free/

    If you’re an Israeliar you can damn near get away with anything…and get rich at the same time.

  10. On July 9, 2019 at 8:08 pm,
    Dick Tracy says:

    Let’s get the show on the road, Nancy Pelosi wants to raise the debt limit again. I think this is a great idea since it will happen anyway no matter what she say’s. The cry from the expensive seats is, RAISE THE DEBT, RAISE THE DEBT. Really, does anyone think that you cannot “RAISE THE DEBT”.

    • On July 9, 2019 at 10:03 pm,
      cfs says:

      The U.S. has the choice: Increase Debt or Default.

      DT, you probably disagree, but I consider default as disaster. i.e. no choice but raise debt.

      A default means pensions reduced, medicare/medicaid reduced, welfare reduced, ability to defend nation reduced, grants to universities reduced, student loans reduced, grants from federal govn’mt to local govs reduced etc., etc.

      • On July 10, 2019 at 5:51 am,
        OOTB Jerry says:

        Welfare……….public and private……everyone alive is taking the welfare check today…
        The real problem will be left for future generations…..Great Job America….
        Since 1913….the scum bags have allowed this to continue, and it will just continue until every asset is in the hands of the REAL ELITES….

        • On July 10, 2019 at 5:54 am,
          OOTB Jerry says:

          Pelosi, like her father and grandfather , have had their hands in the cookie jar…
          They Ran Baltimore into the ground, and is now running the country into the ground….
          Political Hacks…..with no morals….what a joke….

          • On July 10, 2019 at 5:57 am,
            OOTB Jerry says:

            The group of thugs……called the DNC….are now getting exposed…..
            I think there are Repubs also, that will get exposed…..just a matter of time…but, we did have the Bushy, and McCain……lol

          • On July 10, 2019 at 10:10 am,
            cfs says:

            Please don.t use the word “ELITE”. These corrupt pieces of scum are elite only in their own minds.

          • On July 10, 2019 at 10:48 am,
            OOTB Jerry says:

            I do not give any credit to any ELITE….so our terms of SCUM AND ELITE are the Same…

  11. On July 9, 2019 at 8:08 pm,
    cfs says:

    Hopefully Israeli spies in the U.S. will be caught, indicted and tried……and stripped of US Residency if Israeli citizens.

  12. On July 9, 2019 at 8:13 pm,
    cfs says:

    Interesting developments in Epstein case:
    Someone using the name George M. Nasif tweeted out some video descriptions of what was obtained from the Weiner laptop.
    (This is unverified and his Twitter account embargoed.)
    He claims there are videos of Hillary and Huma Abedin with sex acts and worse with minor girls.

    • On July 10, 2019 at 6:05 am,
      OOTB Jerry says:

      SOME GREAT VIDEO……..furnished by EBO……in earlier sections yesterday….
      There is a WHOLE LOT of info. coming out, and has been out….
      Posted zerohedge article today….with some additional info…..

      TIP OF THE ICEBERG…….

      • On July 10, 2019 at 6:06 am,
        OOTB Jerry says:

        CIA….is heavy involved in this one……….and not in a good way…

  13. On July 9, 2019 at 10:15 pm,
    cfs says:
    • On July 10, 2019 at 6:01 am,
      OOTB Jerry says:

      PROFESSOR………please label your pods…..thanks ootb

      • On July 10, 2019 at 10:20 am,
        cfs says:

        Will do now I’m back home.
        Was working without laptops earlier.

        • On July 10, 2019 at 10:46 am,
          OOTB Jerry says:

          Thank you very much….appreciate…..OOTB

  14. On July 9, 2019 at 10:18 pm,
    cfs says:
    • On July 10, 2019 at 6:15 am,
      OOTB Jerry says:

      …more like disgusting career.

      • On July 10, 2019 at 6:17 am,
        OOTB Jerry says:

        Dems and ……..DNC……Disgusting Near Congress……

  15. On July 10, 2019 at 5:44 am,
    cfs says:
    • On July 10, 2019 at 7:20 am,
      Matthew says:

      I like how they pretend that his job depends on pleasing the president.

      โ€œAppear weak when you are strong, and strong when you are weak.โ€
      โ€• Sun Tzu, The Art of War

      • On July 10, 2019 at 7:50 am,
        OOTB Jerry says:

        Ditto…….

        • On July 10, 2019 at 8:06 am,
          Matthew says:

          Remember when George H.W. Bush blamed Greenspan for his 1992 election loss? Is anyone foolish enough to think that Trump has more power than Bush had?