Doc – Encouraging Technical Signs For Gold But The Stocks And Silver Are Not There Yet

February 24, 2022

Richard Postma, AKA Doc, joins us to dive into the charts of gold, GDX, GDXJ and silver. We refer a lot to the monthly chart which is posted below. Doc outlines the encouraging signs he is seeing for gold. We also discuss what it’ll take for the gold stocks and silver to have the bullish outlook as gold.




    Feb 24, 2022 24:55 AM

    I am sure some of you have already read or seen this article…….
    February 20 (King World News) – Egon von Greyerz, founder of Matterhorn Asset Management (based in Switzerland): Gold investors should stay away from countries with fascists leaders like Canada. As gold is now breaking out to new highs (more on this later), both old and new gold investors must be very careful how and where they keep their physical precious metals. Canada is no longer safe for gold investments.

    GOTS………….. phyz……….. hummm.

      Feb 24, 2022 24:24 PM

      Contrary to what EvG believes, in due time, TPTB will make his own Switzerland unsafe for gold investments.

    Feb 24, 2022 24:27 AM

    Don’t read a lot of Egon’s work. He’s been saying the same thing for at least 10 years. This bit on Canada is new, but quite overdone IMO.

    Feb 24, 2022 24:35 AM

    As evidenced by the about face on the rescinding of the Emergencies Act implementation, at least verbal homage, by Trudeau, it would appear that the money boys have read him the riot act! Canada should remain a very safe jurisdiction. I understand that the NDP leader in Canada was a fellow graduate of Klaus Schwab’s Young Globalist Leaders forum, hence their majority of the parliamentary vote even though neither of the 2 parties had much above 30% of the popular vote, individually.

    Feb 24, 2022 24:41 AM

    This headline looks like it’s from Comedy Central:

    Justin Trudeau claims Canada ‘stands against authoritarianism’, announces sanctions against Russia

    What a little turd JT is.

      Feb 24, 2022 24:05 AM

      Now, ..that is a good one……….. Little Turd,…… is a MORON……. and part of the NWO…..

      Feb 24, 2022 24:07 AM

      Matthew, the CCP calls Trudeau “Our Little Potato.” Canada would be lucky if Putin liberated them from Castreau.

    Feb 24, 2022 24:43 AM

    Hi Doc, are you buying LUKOY and OGZPY yet? I wonder if they bottomed this morning?

    Feb 24, 2022 24:03 AM

    Bonzo, thanks for alerting me to those stocks. I haven’t but will keep a close eye on them and will in the future. I did purchase some RSX today and on the opening sold my shorts I had on the conventional market. I also added to my silver shorts on the opening (silver is now in the red). Thanks for alerting me to the stocks.

      Feb 24, 2022 24:12 AM

      Doc, I tried to buy LUKOY@36 this morning, but I would not place a market order, and every time I checked to see if my generous limit orders above the ask price had filled, I saw that the stock was jumping above my offer.It went all the way up to 48 and is now 45. Wonder if it will go to 36 again…

    Feb 24, 2022 24:06 AM

    Bonzo, I also shorted oil on the opening.

    Feb 24, 2022 24:31 AM

    Looks like the ‘trade of the hour’ is to sell PMs and buy the Nasdaq. War premium disappearing fast. Is this a good sign???

    Feb 24, 2022 24:45 AM

    Today’s reversal candle in gold likely won’t be taken out for a long time. It’s the mother of all “outside” days. At least for now, it’s almost a $100 swing in price.

    Feb 24, 2022 24:50 AM

    Then entire commodity complex likely put in a very significant top today as well. Not saying the bull market is over, but I wouldn’t be surprised at all to see a 1-2 year consolidation at this point.

    Feb 24, 2022 24:58 AM

    As mentioned, watch out for the “IDES OF MARCH”.

    Feb 24, 2022 24:04 PM

    Hang onto cash, gold already falling below 1900, gdx will follow.

    Feb 24, 2022 24:08 PM

    I believe we’re seeing the peak in growth and inflation—–2022 will be a very difficult year.

      Feb 24, 2022 24:17 PM

      I don’t believe the 2020 high in the miners will be matched until late 2023.

        Feb 24, 2022 24:23 PM

        Green, I’ve consistently said that the odds of these stocks challenging their highs wouldn’t happen until at least 2023.

          Feb 24, 2022 24:44 PM

          Yes, I expect a “bowl” shaped consolidation in the miners at this point, with the bottom part of the bowl representing the next 8-10 months of rangebound trade. I think a good buying opportunity will come in late 2022, probably close to the lows. Between now and then, I expect extremely choppy, rangebound action.

    Feb 24, 2022 24:31 PM

    Plain & Simple – It was a ESF-CFTC authoritarian kind of day.

    Feb 24, 2022 24:59 PM

    Big spread today as everyone already knows………. Goldie Lock Out Day……..
    $100 usd…… move was a big one………..IMO………..
    Russia not going anywhere….. buckle up……..

    Feb 24, 2022 24:03 PM

    I wonder how much it cost the Fed today in future tax dollars to short the PMs.(Talking paper counterfeit contracts)

    Feb 24, 2022 24:33 PM

    Huge swing in metal prices today. I don’t really go in for conspiracy manipulation but Russia benefits massively from rising commodity prices and uses this to finance it’s ambitions. It stands to reason that US would use financial leverage to seek to lower prices.

      Feb 24, 2022 24:03 PM

      I don’t go in for conspiracy theories either but I do go for facts like five felonies against JPM including one for manipulating the silver market. Also money laundering and trading syndicates. Also New York Fed is the trading arm of The Fed and the member banks assist in trading . The NY Fed has a trading desk near Bloomberg trading operation and is opening another near the CME in Chicago. The Fed buys treasuries as there isn’t enough buying interest anymore to cover debt needs. Fed admits funding General market buying to keep it afloat to maintain the perception of a good economy. The Fed has been following a strategy of gold suppression since the late 80s based on position papers by Larry Summers and action by Robert Rubin to get rid of Glass Steagall which they did as Clinton left office. Saying price suppression doesn’t exist is a conspiracy theory.

        Feb 24, 2022 24:00 PM

        Another subject directly related is the lack of regulation by the CFTC which is supposed to monitor and regulate the paper contract price setting market. A good example is that a bank like JPM is allowed to exceed position limits which are designed to prevent large money interests to control price direction. There are unwritten exceptions for violations for JPM or other banks which opens the door for access to nonexistent funds to be created and funneled through the contract process triggering a false paper price, triggering hedge algos or other managed money algos to further drive price without government restriction or regulation. Because there is no gold standard, debt runs rampant and destroys the value of fiat currencies. Since gold has been considered the only true currency with no counter party risk, if investors seek its safety during periods of fiat destruction it sends a red flag undermining the fraud of an unbacked currency and monetary system. Therefore, efforts must be made to discredit gold as the only true money so the counterfeit system can be continued and massive fraud perpetrated on the people. Once the paper price setting system was found to work for PMs, the fraud spread through all markets. Computerizing expanded the fraud and lobbying deregulation amd Citizen United and the Corporate Person allowed buying politicians that profit from campaigns supported by Wall Street, thereby nullifying any fiduciary responsibility in the system. Anyone challenging the fraud and corruption is quickly attacked by any means possible to destroy their credibility, effectiveness and motivation to question the destructive system.

        Feb 25, 2022 25:11 AM

        Lakedweller……… Great outline concerning ,…..what others do not have a clue on…..

    Feb 24, 2022 24:13 PM

    In light of the sector’s huge gap up into overbought readings today after GDX had gone up 25% in under a month, the selling shouldn’t surprise anyone. The instant swing to bearishness or even despair among so many is probably evidence that this will amount to intraweek noise.
    GDX has been on a 60 minute chart MACD sell signal since last Friday after it had become very overbought and was showing bearish divergences even before today’s spike. Now, and thanks to the spike, it already came close enough to delivering a Fibonacci 38.2% retracement of the entire 25% move off the low of just over 3 weeks ago. After testing multiple 60 min chart supports today including the new uptrend support and then reversing nicely in the final half hour, GDX doesn’t look bad at all.
    Let’s see if that 60 minute chart will show up properly:

    Feb 24, 2022 24:58 PM

    I rarely buy individual issues…I trade indexes…It makes me happy to find the right sector…good enough for me…However gentleman, I give this one issue a 5 star rating for longer term TSLA like market performance…I am in and will attempt to enlarge my position over time trading swings and hope it never gets away…But AMZN allowed such action in the first five years or so…..Tragically, if the world becomes a total chit wandwich over the next decade, gold will have been better for you…This is not to be construed as trading advise or investment counseling…Future returns may fluctuate..lmao😜📞🤡

    It is not because the thing is electric…electric cars are stupid as they are….. because it is electric it makes sense in this enormous nitch…the ‘last hour’ in airplane travel….it is a big big problem…ask anyone who travels alot…..glta

    Feb 24, 2022 24:52 PM

    The American Empire is over Russia proved that today. China is waiting to pounce on Taiwan, they like the rest of The World can see and smell the weakness. America will be powerless in the face of Chinese aggression in Taiwan. DT

      Feb 24, 2022 24:48 PM

      Quite true Dick. But realistically what can be done? America has guaranteed Taiwan’s freedom, kept S. Korea free, sacrificed so many in Vietnam. Noble causes all.

      The American century has 23 years to go with China right on schedule to begin their century in 2045…no small thanks to the swell American neocons of both parties who supported the Reagonomics that shipped all decent American jobs overseas.

      It turns out capitalism does just fine when getting in bed with communism. No so good for working people but they’re smucks who get what they deserve right?

    Feb 24, 2022 24:44 PM

    And Canada……….. has Turd Man………and lock down heaven……… lol

    Feb 24, 2022 24:53 PM

    Congrats to Doc for playing the swings today. Let’s see what shoe drops next

    Feb 24, 2022 24:35 PM


      Feb 25, 2022 25:31 AM
        Feb 25, 2022 25:48 AM

        Misinformation Mathew. Your new well-earned name.

          Feb 25, 2022 25:33 PM

          I know for a fact it is not but I understand fully why you cowardly, thoughtless mutants want to think so.

          Feb 25, 2022 25:42 PM

          By the way, I’m still waiting for your definition of the left. You claim it doesn’t exist, prove it. Not for me but for all those working class people your huge democracy-loving heart bleeds for. You know, like truckers… er, wait…
          Never mind.

        Feb 26, 2022 26:27 AM

        Matthew Is the wildfire cancer spread caused by vaccine additional to affecting fertility and causing folks to die you posted a while back. You certainly manage to find some amazing truths.
        With some countries like as I understand your own Canada, where vaccination levels are at 90 or so percent and with up to three doses of the stuff, I’m surprised there’s anyone standing.

          Feb 26, 2022 26:32 PM

          Canada’s not my own nor is it my home. Is it really 90 percent jabbed? I hope not.