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Excuse me for being a right numpty here Gary, but are you including oil in this as well?
As I have mentioned in other posts my own personal gut feeling – hey, gut feelings work too 🙂 – is that oil is going to bottom somewhere around here and 4oish. OK, it might break 40 a tad but I don’t see the 35 bucks that so many people are talking about.
Hence I am looking at oil resource companies now as I just think that in 6 to 12 months from now oil is going to be much higher and so will be the oil resource stocks also… in my humble non expertise view.
Oil is the main component driving the CRB. When it bottoms the rest of the commodity complex will bottom also.
Oi is showing the same divergence on the weekly charts.
I am 100% committed as of today in both my swing and position trades… long $JNUG, $NUGT, and $GDXJ and Jan 17 calls on $NUGT.
This is as good as it gets if you have been waiting for 5 years to be long gold.
Same.. I bought some shares of NUGT at $3.25 and I’m waiting for a new low to add to my current position. Just make sure you keep a close eye on your ‘stop-loss’ cuz those Mother F*ers will whip your ass into shape!
The MACD is nowhere close to the 2008 low. A long ways to go.
LOL oil would have to go to virtually 0 to reach that same level on the MACD.
I tend to think oil probably isn’t going that low as it is the single most important commodity in the world.
wow. we are really reaching here. lol
I’d wait for a flush to 950-1000 gold before going all in. It’s still too risky. Holding 15% in juniors for now.
WE might get a flash crash to 1030 but I have my doubts about getting to sub 1000 during this intermediate cycle. We are already on week 20 and the daily cycle is on day 43.
100% committed to Jnug and among other high risk investments? What was it that Greenspan said again? Something about irrational and insolvent?
Bernanke once denied the existence of a housing bubble..
Need I say more?
actually, Greenspan got that from John Maynard Keynes.
Why bet heavily against the trend. The trend in miners is down and nothing had changed. Be careful.
I think its time to take a contrarian trade.