XAU Gold Miners - Short Term Peak @ Late October Fed MtgXAU Gold Miners - Short Term Peak @ Late October Fed Mtg
Miners
Beware a Buy FailMarket could not make a new high, on gold or in GDX. Another sell signal that is reliable for a pullback. COT window dressing perhaps. Be careful
EGO trend reversal, looks very bearishEGOs run seems to be over for now, it had produced a continuation gap (bearish candlesticks), but that alone isn't enough to make a confirmation. After today with the 10% drop on shelf offering news.. it formed a bearish engulfing candle. Bearish engulfing also alone by itself is not enough to say bearish also.. so you look for volume confirmation. It seems we have that Double up those two candlestick patterns, along with gold making a pullback after breaking 1500... seems bearish too me. Trimmed position yesterday and will most likely close positions totally, or buy some short term puts. News seems to be coming with Skouries permit, so if that drops soon then its game on again. GLTA
Gold potential correctionGold/miners to pull back? Long term bullish but a correction should be welcomed by bulls
$gdx $gdxj $nugt $dust $jnug $jdst
Posted FFMGF purchase last Friday... Can it Run for 2 years?Posted FFMGF purchase last Friday... Can it Run for 2 years?
JNUG ripping through 34 Month SMA, very powerful statement!!!JNUG ripping through 34 Month SMA, very powerful statement!!!
XAU Mega Bull Looks like 34>500>204>340 (Not Even Started Yet)XAU Mega Bull Looks like 34>500>204>340 (Not Even Started Yet)
BTC: $9415 ---> $420 a RESET SCENARIOwhen Miners become man for himself, the heavy hitters at 400 shall have a feast
to take over float and make a killing in the next 10 years
GDX Short to 24.50ishNeeds to close the gap from past run up and test new support around 24.50 then proceed to test resistance again.
Wesdome Gold MinesIn the precious metals mining industry a large part of equity prices reflect the price of gold and silver. But in this herd of mismanaged elephants and lottery tickets, there exists a few properly managed nuggets that are hidden in the piles of wasted ore.
Wesdome is one of those companies. When the gold market really takes off investors will eventually realize this (many already have), and as hot money rolls into mining companies, outfits like Wesdome can be easily overlooked against the larger cap majors. But eventually the smart money finds the well managed companies.
This is a long-term hold. Much like Kirkland Lake was a couple of years ago. Watch it shine with Gold and expect a healthy return in the medium term. (assuming banksters don't smash gold).
Time for a pirate adventure!Ever dream of being part of a swashbuckling pirate adventure in the search for the 'X' on the map? I have an inkling that this year marks the day where we could get lucky. I've marked the initial 'X' on this map but there could be much greater treasures to find for the courageous. Look to the traditional treasures this year, silver, gold, miner's and a fortune might be found. Trade safe.
(On a technical note, observe silver's explosion in volume and RSI strength. It appears to be at least a weekly candle degree move to this pirate, possibly even monthly).
GDXJ - taking profit With divergences setting up on RSI and MACD and with gold failure to follow through on recent strength, taking profits on junior gold miners ($GDXJ) might be reasonable right now AMEX:GDXJ
Couer MiningTime to take short term profits. After some rest we should see monster run (hopefully) $CDE
GLD Bugs are back!With the devaluation of currencies globally and negative interest rates plaguing over 25% of sovereign government interest rates, Gold has come back in favor breaking their resistance of $129.00. Broad indexes are at all time highs and fear of devaluing currencies will create a run for a "store of value" trade which can also be perpetuated by a "fear trade" where Gold performs historically well. $143, then $154, and finally can test $172. We'll see.
Yamana Gold outlook still strong after guidance updateGold stocks are expensive right now due to the extremely high price of gold. One of the more affordable stocks is Yamana Gold, which has been in a long-term downtrend until it broke trendline resistance a couple days ago.
Last week I reported on an upgrade of Yamana's productivity guidance. That guidance upgrade turned out to be a little too optimistic, and yesterday Yamana moderated it somewhat. However, the outlook for Yamana still looks good.
Production at the Minera Florida mine is returning to normal after interruptions due to labor disputes, and production at the Jacobina mine is increasing and expected to continue to increase for the next three years. The Chapada mine--which has been a bit of a drag on the company's bottom line--beat records for productivity this year, and the company just sold it for $800 million.
With rising productivity and a history of earnings beats, this looks like one of the stronger gold plays in the market right now. Yamana should get some analyst upgrades in the coming months, providing further upside catalysts. Unless gold prices suddenly collapse, I suspect that AUY will hold above the trendline.
