Key Metals Charts
Chris Kimble, Founder of Kimble Charting Solutions is back again this week outlining some important long term metals charts. All the charts will be posted below but overall there are some key downtrend lines that are very close to being broken on the long term monthly charts.
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+233 Fib yeah!
Very good listen that you and Chris provided, Cory. His thoughts on the TNX chart at the end of the interview reaches almost the same conclusion for Stocks as Tanashian does with his comment about the 2-year yield. “Below is said talky chart, to tell you its story. I am over-simplifying when I promote the idea that all the Fed had to do is look at this chart and back off. Being economic eggheads surely they pour over loads of data. But folks, it really is as simple as this.”
Good article: http://news.goldseek.com/GoldSeek/1548944592.php
Well, with 1.5 hrs to the close, my portfolio of miners is actually up so far thanks to AXU and ISVLF. They are clearly not the most liquid names, so take their action with a grain of salt. But better than being down 5% or more today, so I’ll take it. The next 2 weeks is going to be key for silver and the miners IMO. I would rather break solidly above resistance and go sideways to up for the rest of the year than to stay pinned below resistance and rely on a late year moon shot to set the trend.
I will take it as a massive psychological and technical achievement if AXU can close at or above $1.15 this week. As I mentioned before, this week the 200 and 300 WMAs converged at 1.15 and are in the process of positively crossing for the first time in the stock’s history. FWIW. Probably more psychologically significant (see HL’s weekly chart for why such a cross isn’t necessarily a guarantee of bullish action), but I’ll take it.
Tank’s Cory you do a good work to keep the brains cool ! TANKS !
Fun fact. The last major bear market in $XAU took about 5 years from the top to the bottom (1996-2000) and then from the the bottom it took about 5 years to get back to the 1996 peak. The $XAU continued on higher for another 5 years before topping.
This bear market in $XAU took about 5 years from the top to the bottom (2010-2015). So far from the low, we have chewed up 3 years. To stay with the historical pattern, the $XAU would have to hit 220+ by early to mid 2021. It would need to rally 150+ points from today to do so. Seems impossible right now for sure. But I will never ever say never.
Priced in dollars or GLD, today’s dip has been a gap-filling exercise.
GDXJ:GLD…
http://schrts.co/bnpizHPe
And tiny gaps remain in both cases, which shows strength.
I am hoping for very strong follow through in silver and silver miners over the next couple of weeks. Let’s see what happens.
Up & Down spanky ?
UP.
but whatever. At this point I am beyond strong hands. If my silver miners were to take out their Nov-Dec lows, that would concern me a bit. Short of that I feel like I am playing with house money at this point. The only questions in my mind are how far and how fast this bull market will go.
I honestly don’t see how it would be possible for the metals to go any lower than they did recently. Then again, I thought the same thing and 2013 and basically got wiped out. I’ll never ever get cocky again. I think the miners can run much much higher, but I wonder if the HUI can truly make new all time highs before the first major mine is nationalized. It’s going to be extremely tricky and risky to hold these things IMO. Probably safest to take profits occasionally and buy physical. I don’t think any nation is beyond expropriating mining assets when the pitch forks come out.
Worth a few minutes if you follow Oil at all: https://medium.com/insurge-intelligence/venezuelas-collapse-is-a-window-into-how-the-oil-age-will-unravel-f80aadff7786
Goldman sells Gold contracts…… typical Friday manipulation.
Gold Stocks to Buy as They Outperform Gold Futures
Richard Suttmeier – Feb 1, 2019
“Investors should have 5% to 10% of their investment portfolios in gold shares as they should continue to outperform even after the bear market rally for stocks comes to an end.”
Owning gold or gold mining stocks has always been considered a “just in case” asset that goes back to the Great Depression when gold miner Homestake Mining rallied significantly as the stock market crashed. I have been advocating a 5% stake in gold miners and today’s recommendation is to raise the stake to 10% “just in case.”
The Weekly Dig – $1,300 Gold Prompts Enthusiastic Mood at Round-Up
by @Haywood on February 1, 2019
“As expectations rose that the U.S. Federal Reserve would keep its key interest rate steady after a succession of raises in 2018, the price of gold has been on a steady incline since Friday, surging through the $1,300 per ounce level for the first time since June 2018. After the Federal Reserve confirmed that it would keep interest rates steady, the gold price continued its upward trajectory on Wednesday and Thursday, reaching a high of $1,326 per ounce on Thursday before settling at $1,321 per ounce at yesterday’s market close. This created some much needed enthusiasm at this past week’s Round-Up conference in Vancouver, particularly from junior mining companies who, for much of 2018, have struggled as illustrated by the performance of the TSX/S&P Venture Index which fell 35% from January to December. However, it was the gold producers and, to a lesser extent, advanced stage explorers and developers that appeared to respond accordingly, with both the S&P/TSX Global Gold Index and Van Eck Vectors Junior mining Index ETF up 7%, while the TSX Venture rose a more modest 3% since last week.”
https://ceo.ca/@haywood/the-weekly-dig-1300-gold-prompts-enthusiastic-mood-at-round-up
Jeffrey Christian – 2019 Gold & Silver Investments for the Short and Long Run
Cambridge House International – January 2019 #VIDEO
Gold vs. Oil vs. The Dollar – What Will Be Stronger in 2019
Cambridge House International – January 2019 #VIDEO
“Marin Katusa moderates a discussion on Gold vs Oil vs the Dollar. With huge deficits in the US, will the US dollar weaken in the years ahead and where will the price of gold and oil go in 2019? Panel members include Peter Schiff (Euro Pacific Capital), Brent Johnson (Santiago Capital), Erik Townsend (MacroVoices.com), Rex Murphy (CBC, National Post), and Timothy Sykes (TLC Media LLC). ”
The Dollar Milkshake Theory – Brent Johnson, Santiago Capital
Cambridge House International – January 2019 #VIDEO
Cory Fleck, Korelin Economics – A Global Shift In Market Trends Is Just Getting Started
Cambridge House International – January 2019 #VIDEO
David Erfle – Investment & Research Strategies for a Successful Junior Gold Stock Portflio
Cambridge House International – January 2019 #VIDEO
Objective Measures of Mining Finance and Gold Investor Cycles – Brian Bosse
Cambridge House International – January 2019 #VIDEO
Peter Spina – Global Debt Crisis 2.0 & Top Gold Stock Picks for 2019
Cambridge House International – January 2019 #VIDEO
The Alligator vs. The Sniper – Marin Katusa vs Timothy Sykes
“Marin Katusa and Timothy Sykes go head to head discussing Timothy’s success and their different approaches to investing in stocks. Watch out for the shocking moment at 30 minutes in!”
How You Got Screwed in 2018 – Jamie Keech
Cambridge House International – January 2019 #VIDEO
The Silver Slam-a-Rama: Jeff Clark
The #1 Reason Silver & Silver Stocks Will Explode Higher
Cambridge House International – January 2019 #VIDEO
2019 Investment Strategies – All Star Newsletter Writer Roundup
Cambridge House International – January 2019 #VIDEO
“Reflecting on 2018, renown Newsletter Writers Nick Hodge (Outsider Club), Peter Spina (GoldSeek.com, SilverSeek.com), Brent Cook (Exploration Insights) and David Morgan (The Morgan Report) discuss trends and sentiment for 2019. Moderated by Kitco’s Daniella Cambone”
Outperforming The Market panel with Chris Parry
Cambridge House International – January 2019 #VIDEO
Chris Parry, editor of Equity Guru, hosts an eclectic panel consisting of: Mickey Fulp, The Mercenary Geologist, Niv Dagan of Peak Asset Management, and Max Sali of Barrian Mining to discuss strategies to outperform the Mining Market.
Q&A with Peter Spina & Keith Neumeyer
Cambridge House International – January 2019 #VIDEO
Could not get into the link, Ernest. I tried!
You can see the importance of the 233 week MA for silver. Watch for back-to-back weekly closes above it — it would be the first time in almost six years…
http://schrts.co/psDGxCdM