Where’s the money coming from to move everything out there higher today?
“Trees and the sky” says Rick!
Click download link to listen on this device: Download Show
OFF TOPIC….I just watched ..The Super Rich & Us..Episode #1..Its part of a series..Called . Lives Of The Super Rich. & is available on the , BBC2 Iplayer…..
Well worth the time to watch..Todays episode was about the UK focused mainly on London , next weeks episode is the Worlds Rich.
Saw it too Tony. We were sold a lie with the so-called ‘trickle-down’ effect. Best, A
Market has easily sliced through the 50 day averages as expected. I added 1k of XOP energy spdr yesterday and 3k of UYM materials 2x etf the last 2 days. Big companies like Dow, Dupont, PPG, Lyondell turning up after a deep correction in the materials group.
Yes Yes RICK ! where money comes from ! https://www.youtube.com/watch?v=o-PXRkJxV3A
Hi Rick,
On Jan 6, you said if gold exceeded 2014.80, it would be more bullish for gold. Do you see its run as done now?
Thanks!
where is Postma
On a cruise.
maybe at Miraculins
With GDXJ at just over $28 at 3:31pm ET on Tuesday, I said: “Sold the last of my GDXJ calls and bought some insurance puts. I remain long the shares.” Also that day, I said: “For me, days like today are for selling, not buying.”
———-
TODAY was a day for buying. GDXJ went as low as 25.91 (3 cents above the 55 day moving average) and filled Tuesday’s gap. This action is positive/healthy and came at the right time to breath new life into the advance. There might be a little more choppy, sideways action before we go higher, but I wouldn’t count on it.
Things can change quickly, but there is no technical reason to be very worried at this time.
Notice the bullish position of the RSI at the top of the chart:
http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=1&mn=0&dy=0&id=p55336505063&a=383997141
Correction: should be 2:31pm ET on Tuesday.
Another correction: breath should be breathe!
Brother Matthew,
We both think alike 🙂
Long term=In
short term portfolio=Did not sell
100% agree this is choppy consolidation and the weekly charts are showing this.
I don’t have a crystal ball but the dollar at some point, and i mean very soon, needs some type of correction.
loonie looks to be forming a bottom and when it does reverse, it will do the opposite of dollar and metals/miners up again.
I agree about the loonie. I think it is also very positive that silver is up over 15% from its low even thought the euro has continued another 5%+ lower at the same time.
Good points!
It’s remarkable that gold/miners continue to perform well despite this parabolic move or so called parabola move in dollar. You made really good points yesterday on that one post you did.
Good luck
By the way Matt or anyone else I’ve been meaning to ask if anyone has a list of top 10 Ceo’s in the mining sector? I have not had much success in finding who really is the leader of the pack.
Here are some of my favorites personally which I care to share with all.
1. Conway
2. Oliphant
3. Pierre la sonde
Anyone else care to share a few that are stand up quality?
Cheers
Most of you know these guys already 🙂
Bo Polny…January 7, 2015 – Cycle High
Sneak Peek for Jan turn dates… http://www.gold2020forecast.com/
As u guys no too well.. i am a fundamental gold bull..Bo Polny makes absolutley no sense! He was damant that gold would hit 2000 in December…BS..its all BS!!!..The market turns when it turns!!! iF YOU CANT STAY SOLVENT UNTIL THEN..YOU ARE BASICALLY SCREWED…sorry..with all due respect…end of story!
know = no..sorry..oops
SD Marc…the link was posted for informational purposes only. I thought Bo was one of Al’s go to forecasters?…just kidding!
Oh yeah..no worries! Thanks for the link!…take care!
Trader Dan market timing site blog comments on the 7th (below) and charts from the gold tent site helped me sell my JNUG yesterday for a 40% profit in one week.i will be buying back in at the next entry point. Trader Dans comments….Gold reversed up on the 55-day Fibonacci step out on Friday and rallied impulsively into the Full Moon Timing Window Tuesday – we’re looking for a corrective pullback into Friday’s turn window and then a reversal up. Gold stocks are leading gold higher – back-to-back closes of GDX above 20.5 will imply a quick move to 28 – this may not be seen until next week. The extremely oversold nature of gold stocks fr
Biggus,
Good to hear from you!
Thanks for your updates. As you know already Im part of the family over at goldtent trading site. They have some of the best traders I have seen. That is short term trading.
Bird,
I responded to your response two days ago. Thanks all the best!
OK…thanks
Glen…yes thanks for the introduction to gold tent. Great site.
Otto Rock points out that the chart of gold/oil ratio is very “spiky”.
Either gold heading down right quick(?)
or
oil heading up right quick(?)
you decide:
http://incakolanews.blogspot.ca/2015/01/chart-of-day-is_8.html
Great chart Irwin. Note the peaks are each lower than the one before. It’s worth keeping an eye on. Here is the chart alone
Gold/ Oil chart — Historical
http://incakolanews.blogspot.ca/2015/01/chart-of-day-is_8.html
If a person drew a trend line across the peaks, it could be said that the latest run-up is a breakout above that trend line. I guess there’s no law says it can’t keep going higher.
Then I look at the P&F chart at the bottom of this page, and I’m thinking – if I was that far up a flag pole without a parachute, I’d be pissin’ meself.
Yes, it has broken out to a 16 year high and there’s no reason why it can’t head for 33 like it did in 1986 and 1988. Gold is entering a cyclical bull market versus oil that should last at least 18 months.
http://stockcharts.com/h-sc/ui?s=$GOLD:$WTIC&p=M&st=1981-09-07&en=today&id=p61642187752&a=366698528
The USD priced in oil is incredibly overbought with an RSI above 97. The dollar is a SELL/oil is a BUY but this doesn’t mean go all-in at one price point.
http://stockcharts.com/h-sc/ui?s=$USD:$WTIC&p=W&yr=7&mn=11&dy=0&id=p37195930152&a=384215562
Rick calls Goldmans trading desk as idiots, the proper word is DEMONS and nothing short of that. Remember CEO Blankfein words before Congress about him doing the lords work, Unfortunately, he didn’t qualify his word, since his title should be Little lord Lucifer, Lloyd Blankfein
Please God bring back the good times.
https://www.youtube.com/watch?v=eFHJ41ktt3Q