After studying the charts this weekend I’ve come to the conclusion that a very complex cycles pattern is in play for not only the stock market, but also gold. No other cycle analyst is going to catch this, and they are going to be on the wrong side of the boat at the critical turns coming in the next couple of weeks.
I will cover this extensively in the weekend report and an addition to the weekend report that will be published in the susbcriber site later this morning.
Let me guess: stock market still topping out, and miners still due for an intermediate bottom, but it may take a couple more weeks (and potentially more pain for GDX longs) to play out…especially if we get a scary equity correction, which COULD drag GDX further down with the rest of the market. Obviously, It would be a good sign that the countertrend rally in miners has actually started if the latter didn’t happen to GDX and it went up in spite of the overall equity market going downward.
Hello….in my work. The SP500 has already crest on 5/20,
at 2134. My own work is Bearish, as it pertains to the
SP500. Gold/Silver, adding short position at the open.
I happen to like ASA, Best to all in the Savage group.
I understand Gold, after hours last Friday, jumped $30.
Interesting, I’d say…
If we get a sharp bounce next week to HUI 125-130, take the money and run on miners?
Can’t argue with taking profits and running after a sharp bounce.
Yes, your correct. The coming Gold/Silver rally.
Which may have already begun, after the close
last Friday. Is a counter trend move up, so yes.
Another decline is going to evolve. Good point.
Hedge funds short? Sounds like a set up for the banks to screw ’em. I’m sure we would all welcome a 40% run from where we are today. Bought a few shares of NUGT at the close, that quite a reversal.
Too many are betting on a metals/miners bounce here.
Sounds to easy.
Therefore, probably won’t be.