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A look into how gold and silver will kick off 2020

Cory
December 10, 2019

Doc joins me today with a look into the start of 202 and how he thinks the precious metals will perform. Assuming the rest of December is slow, January will be a key month to watch which direction strength and momentum will shift.

Discussion
13 Comments
    Dec 10, 2019 10:00 AM

    Doc, what do you think of Metalla gold mining royalty company? (MTAFF)

      Dec 10, 2019 10:55 AM

      Doc where do you see gdx, gdxj possible lows over next couple months if gold test 1400/1425 area? Thanks

        Dec 10, 2019 10:35 PM

        Paul, GDX came close to the possibility of 25 about 4 weeks ago. It hit 25.98 on an intraday basis. I believe that it still could see the 24-25 range. I believe GDXJ has the potential to get to about 33. These levels would take weeks to get down to if we see them. If we pullback a little and get close, i wouldn’t be concerned about going lower since I’ll be purchasing and adding to stocks regardless of whether we get there. I always look at individual stocks and don’t use GDX and GDXJ as guides unless they look like they’re really ready to fall out of bed. Then I may hold back on purchases. A lot of these Juniors have come completely back to there they started a run weeks ago so i have slowly started to purchase again. January will be a key month as mentioned to give investors a flavor on whether we’ll start a new leg higher sooner then later. That month will tell me a lot.

    Dec 10, 2019 10:03 AM

    Pardu, I personally like it. I’ve been following it recently and looking for an entry position. It’s had a nice run but it’s difficult to purchase something like this after a run like it’s had. I’m watching the technicals closely and am hoping for a little pullback.

      Dec 10, 2019 10:11 AM

      Would a pullback to $1.00 be enough as an entry point, or does it it possibly go to .80?

    Dec 10, 2019 10:23 PM

    $.90 looks like a decent possibility but in order for it to see $.80 a significant reversal in technicals would have to occur. It hasn’t taken out the 50 day SMA for months which is currently at about $.90. Then it would have to take out the 50 week SMA and EMA which it hasn’t taken out in 21/2 years. That would signal a major reversal and if that would happen, you might with time get it at even lower prices. There has been tremendous volume this year and so we might be seeing a short term peaking of the stock. I’ll have to see the technicals again if this stock gives me the chance of an entry point at $.90.

    Dec 10, 2019 10:34 PM

    I had a sudden frisson of fear when Doc said that the rest of the moth will be dead and nothing will happen…especially given the Zoltan Pozsar warning https://www.zerohedge.com/markets/its-about-get-very-bad-repo-market-legend-predicts-market-crash-days warning

      Dec 10, 2019 10:48 PM

      Nigel, I read that report. We have to remember how so many commentators and others have been churning out pieces about the stock market’s eminent crash for months and it still levitates. We may get a little sell off yet in December but I would be more concerned about January.

    Dec 10, 2019 10:06 PM

    Despite the pullback of the last few days, SILJ is still up 19.6% since bottoming 2 months ago and 61% since May. It consists of 31 well-known miners:
    https://www.zacks.com/funds/etf/SILJ/holding

    Dec 11, 2019 11:46 AM

    Doc, if you drive down to Orlando for the Citrus bowl w/Michigan & Bama on 1-1-20
    you cold also drive up to Jacksonville on 1-2-20 for the Gator bowl featuring the Indiana-Tennessee game. Big Al, CVS, Moriarity, Matthew, Excelsior, and I will save a seat for you there. Go Hoosiers!

      Dec 11, 2019 11:40 PM

      Thanks for the kind thought Bonzo Barzini.

    Dec 11, 2019 11:53 AM

    Are all you guys Hoosiers? I didn’t realize that.