30 thoughts on “CHART OF THE DAY

  1. Jay

    I think the easy “bounce money” has already been made, and I’ve taken a lot off the table. I wouldn’t be the least bit shocked if GDX gradually worked its way down into single-digit territory from here. If that were to happen, then the real/sustainable rally could finally begin.

    1. MuffinTop

      Ladies and Gentlemen, Jay is at it again.. like a dog with a bone, he just won’t let it go 🙂

      Dude, I hope you’re shorting right now cuz you’re about to make ‘mad’ money on your way down to single digit territory!

      1. Jay

        LOL. I banked some nice coin shorting naked DUST calls, but that trade was not for the feint of heart.

        I will not short GDX, but if GDX does eventually get to the single digits, I will get interested in shorting DUST calls again (still probably won’t be for the feint of heart)

    1. bob davis

      Looking at the chart, and a five year chart, I would a more obvious trend line begins in April 2013. That would take the breakout point to between 1210-1230. Just my opinion.

  2. Bill in Tokyo

    I think that, on balance, Gary’s analysis of gold is 100% correct.

    That said, about the $USD, the weekly chart still looks like a symmetrical triangle, which I believe breaks in the direction of the trend (up).

    But, as Gary says gold the the USD don’t always move in sync, so I really don’t care what the USD does for a trade, and I’m looking to get on the Gary gold wagon.

  3. AlexP

    FOMC day or the one before is more likely to set the DCH of the next DC rather than the DCL of the current DC.
    Look for the upthrust in stocks at the end of this week following the correction today and tomorrow.
    That upthrust in stocks will converge with the DCL in USD.

  4. Tech_trac

    Considering the fact that AU spent 36 weeks of distribution before the latest decline to $1070, congestion analysis would suggest that a move to the 200dma @$1176 is the most that traders should expect. Any penetration should be short-lived.

    The multi-year hi in RISK-OFF trades has allowed the ‘safe harbor” premium to expand to levels above AU’s Commodity Value which on Fri stood @ $1040. So any strength in Commodities could support the argument that the low this cycle is in. Besides a 50% retracement of the whole move from $255-1920 has already occurred, more or less, but more time is required to resume the secular(?) bull mkt. Maybe even a cyclical one oo.

  5. Tim

    Miners retreated yesterday with glencore even though gold was up, correcting more today with gold following miners. This is not over with glencore, if they revisit their lows so will miners in general.

  6. Bill


    Retail investors in recent months have seized the opportunity to significantly increase their holdings of silver bullion coins and, to a lesser extent, bars. >>> Due to strong demand, the U.S. Mint, the Royal Canadian Mint, Australia’s Perth Mint, the Austrian Mint and the British Royal Mint have put their silver bullion coins on allocation, where the volume of distribution of coins is controlled due to bottlenecks in the manufacturing process.<<<< This is an unprecedented industry-wide phenomenon. In recent history, putting bullion coins on allocation has only occasionally been done by the U.S. Mint. The practice points to considerable tightness in the silver coin business at the moment.

  7. David

    thanks,Gary. You show gold will go new or final lower low after this rally in the chart, the conclusion is different previous one that you said gold bottom was in place.

  8. AlexP

    Johan, it’s MARVELOUS: stocks are having the pullback today (as I anticated yesterday) after RUT bottomed at the end of Sept and … the pullback has been AS I WANTED TO SEE IT: SHALLOW AND ON VERY SMALL VOLUME.
    Now we have 4 signals that the bear is over:
    – 50dma breakout
    – upper cycle band b/o
    – higher highs and higher lows for NYSE and SP500
    – pullback = small and on small volume.

    Stocks to also retreat tomorrow and then they will go to new highs, as I forecast yesterday, before moving into their HCL –> I’ll buy there

    1. victor

      good job Alex, I’m tempting to get profit out as I long BIS but listening you and going to wait for tomorrow…, thanks

      1. AlexP

        Uaaauu, Victor! We’re welcome
        But that’s an ugly risky trade I would never have the stomach for not even to think of … long on BIS …nooow ?!!
        First of all, the only thing ultra short etfs are good for is –> WRITING CALLS ON THEM. At least for a trend follower like me (to a savvy day trader, scalper may make sense getting into them though). I do not know about your trading style it is true, but watch out!

        Then, there is frenzy buying on strength underway in stocks –> BIG TIME!
        There is so much that if fools’distribution continues tomorrow on so much buying on weakness while the pullback to be shallow and on low volume too, I will consider putting in my pilot longs much earlier than I thought 2 hours ago, i.e. as early as at the end of the trading session tomorow, 5 minutes before the close.
        omg, omg, long on an ultra-short etf now….more than I can bear
        Good luck, Victor!

        1. AlexP

          ….buying on weakness I meant above not “on strength”…i’m tired, i’d better go to bed…bye!

    2. Hong Bang

      Hi Alex,

      Thanks for sharing your thoughts.

      You speak about “cycle band”, what is it? Is it Keithner Band?

      Please teach me about thí indicator.


      1. AlexP

        yeap, it’s Keltner, it’s ATR-dependant and you adjust it to fit the avearge span of the cycle, for instance some 20-25 days for USD, gold, crb (i go for 25) or some 30-40 for stocks (i go with 35 especially now that cycles are shorter post-QE3).
        I’m going to sleep now. It’s 2:31 am in Bucharest, Romania. But it has been worth it – nice stream of additional evidence that Gary was about 10-days faster than me in recognizing we are in a new bull stock market.

  9. William

    GDX’s EMA (20) just crossed above EMA (40) in the past few days, so, any dip here should be a good buying opportunity…i won’t expect it to dip too low, my wild guess is it may not even go below $15.

  10. David Silver

    William i bought my last 20% cash in JNUG near the close based on intraday dynamics and after realizing my long crude buy point wouldn’t trigger.

    Holding a boat load of miners, long thr Shanghai and Nasdaq tech.

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