12 thoughts on “CHART OF THE DAY

  1. JohnWilkinson

    I frankly don’t see much hope that a bull market in gold gets going again for another few years. Of course, for gold believers, the major flight to gold is always just around the corner. It was a glorious time for gold 2001-2011. For those who realize the risk of believing in stuff, best to wait for bankruptcies, consolidation, and MUCH lower gold prices over the next 3-4 years.

    1. gary Post author

      I’m a little more bullish than that. I think we could get a final bottom as early as August or Sept.

      I’m seeing the potential for a head and shoulders bottom in miners over the next several months. I’ll post that chart on Tuesday.

    2. John

      You are totally clueless. Look at Osisko Royalty, Abitibi Royalty, Franco Nevada. My top gold holdings are looking just fine thank you very much. The gold bull is alive and well. The $USD falling and has made several consecutive lower highs and going lower in what will prove to be its primary trend over the next several years.

      1. Bill in Tokyo

        FNV? Sideways for 1 1/2 yrs.

        Gary’s got this cycle stuff pretty well dialed in. Best to watch and learn.

        1. John

          FNV sideways??? What are you blind? From mid 2013 to now it is up from $32 to $60. WAKE UP!

  2. Stefan

    The Gold bull is alive in most currencies except the us dollar, look here what a beautiful chart from a Swedish tech artist:


    Silver tested the downward trendline three times and then a brake through, very bullish ! The dollar has topped at 100 imho and is heading downwards. we are 12months away from a major breakout in precious metals and I think Nov low is THE LOW.

    USD chart:

    detail study

    A turnaround formation …

    1. gary Post author

      I have to disagree on the dollar. Once it finishes the consolidation it is going much higher. I’m in agreement with Jim Rogers. It will likely turn into a bubble at some point over the next year or two.

      This is what intermediate degree corrections do. They convince everyone the preceding trend was false and get everyone on the wrong side. Then the secular trend resumes and everyone who took the bait gets run over.

      1. John

        Gary, seriously?? Funny how you have often talked about Higher highs, lower lows, lower highs; yet you completely ignore the recent lower highs that the $USD has made; why? Because you have let your personal bias get in the way of sound technical analysis.

        1. gary Post author

          That one is easy. The dollar is only on it’s first daily cycle. It still has lots of time to make higher highs yet. A first daily cycle will rarely be powerful enough to make it all the way back to new highs.

  3. Dan

    Bought GDX Friday with a stop at the November 2014 lows. That massive hammer bottom on silver is still intact. Most of the metals analysts are waiting for this final washout, which is definitely a possibility, but you never know – the COTs improved dramatically last week.

    I still have lots of cash and panic selling to $1000 or lower gold won’t ruin my emotional capital with this trade.

  4. Stefan

    Ok Gary, but a stronger dollar is not good for the us economy and stockmarkets. I think FED is more keen on propping up the stockmarket than to keep the dollar strong. The dollar strength was bcos many investors thought that FED was about to raise interest rates, but they are not, not yet. The deflationary crash has also passed by, see oil is slowly turning around. The dollar is strengthening during deflation as a safe haven, but that is no longer the case.

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