I like this one for medium to longer term. Second bounce this morning from 86.44 closest support and 34dma. I think it could be basing here, recharging for more upside.
A deflationary outcome where the US falls behind the rest of the world (China) is simply not an option. Therefore, the government is handing out money left and right at the moment, and industry is a clear target of that money, starting with vaccines. Pfizer Gets $1.95 Billion to Produce Coronavirus Vaccine by Year’s End – 7/22/20 www.nytimes.com Clearly someone...
I admit, I'm caught a little flat footed because I was "buying the dip" at higher levels. But broadly, I see one of my favorite gold royalty companies dipping to the 50ma. I could have been more patient to pick up these prices, instead of buying earlier dips. But, it is what it is. There could still be more downside / consolidation, but iMO the slower this...
Today is quite wild with SLV +4%, GLD +1%, but Gold miners generally down and sucking. I actually remember the same situation happening just before the COVID crash and it seems I can illustrate it with this chart. It's hard to believe miners can be so weak with Gold so strong above $2000. They have amazing fundamentals here. But the tape is what it is. I...
The DXY failed to create an inverse head and shoulders pattern. It is now testing a double bottom here. It could bounce. Or it could fail. Regardless, with a Gold breakout over 2000 I think the ratio between fiat currencies is becoming irrelevant. If the DXY bounces Gold could test 2000 dollars, but in that case, foreign investors would just buy the dip...
I have EQX backtesting a nice cup breakout and therefore not very overbought at all. I like this one because it has very high insider ownership. Relative to Gold, I see it under-performing inside a bull flag. I think it plays catch up when it's ready to.
I see pretty good volume on the Gold tape today, yet the price is holding 2030 despite how overbought it is. This shows a lot of demand even at these elevated levels and elevated levels of profit taking. I would prefer to see a bigger dip to 2000, but it is what it is. IMO, this is consistent with a very strong move that is not yet ready to stop. Therefore I...
Gold consolidated underneath $2000/oz and today has broken through. This is exactly the type of behavior I would expect in a bull market. My mind is always open for a pullback, but now I think $2000 can be used as a first support level. My long term positions across the mining space have done the best and probably give the least headache.
It's been long, slow grind up today, and I'm worried if it's a bull trap. Looks like the DXY could be putting in a potential bottom. Near term, this could send stocks down if the IHS pattern completes. I will be watching this closely and if the patterns looks like it wants to complete, will be selling / hedging long equity exposures.
Today, Ficth Revises United States Credit Outlook To "Negative" Yeah no shit, the US is not going to pay back debts within the same universe as in real terms. It's kind of a non-event, IMO. But what happened last time the S&P went with an actual downgrade to AA+, not just outlook downgrade? Not much, really. US borrowing costs did not go up. Perhaps the...
Nice pullback to the 50ma in an epic currency devaluation. Near term, the Dollar may bounce and stocks take on some selling pressure. But I am pretty sure they will BRRRR more and not let it go down. Long via Sept calls for now.
EQX has resolved bullishly from my last post. It held the channel and is now making new highs. So, naturally, I'm thinking, is it time to reduce risk and take profits? Well, I find that the MACD is -just now- about to cross up, so a new move higher is certainly possible. I imagine the Gold breakout lends new life to the trend. At the very least, it makes me...
This is a Sprott favorite. I have been patiently waiting and watching this one. It does not seem to want to offer lower prices. It has bull flagged while the Gold metal has blasted off. Now bouncing off its 50ma, it may be ready to go. It should play catchup soon.
This company does telemedicine and has been bullishly trending esp after COVID. Here is a pullback to both the 50 MA and a decent trendline.
The Gold bull market continues to surprise to the upside. Now that Gold is at all time highs, it opens the door to investors who prefer to buy big breakouts. Here is Liberty Gold with what I think is a bullish running correction, very similar to the one I posted in Gold itself a while ago. Price unable to make a lower low even after a strong move, MACD has been...
Potential IHS trigger over 100. I would expect it to see new highs.
Nice bounce off the 50ma for this Chinese company that is up 100% in four months.
1. Descending wedge 2. MACD resetting at 0 3. Rate of change of MACD is improving 4. Hedgeye likes the country's macro fundamentals and has been mentioning it Risk: The Dollar bounces from its crash-mode and sends everything down. I have a position I am going to add to it.