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Bill, OPEC meeting I think will be a catalyst for crude oil and CRB index to dive strongly into their IC decline.
By that time gold and stocks will have already been entrenched in decline or gold at least for sure, while stocks may vacillate in the first days of next week.
Well don’t say I didn’t warn you ahead of time.
No matter how many times we go through this it never changes. Every DCL is the same, and after the market proves me correct the bears just continue to try to find a reason for why they will eventually be rewarded. All they accomplish is to make the losses worse.
How fitting is this? The folks over at https://goldtadise.com/ have been all over me lately telling me I was wrong on gold, wrong on the dollar, wrong on stocks, and wrong on biotech.
Turns out I was correct on all of my calls.
How does that humble pie taste my friends?
Noticed that here too. Unproductive stuff. LABU is in trending mode, UP,UP. Just flow with the tide, anybody is free to think what they like.
Cycle trend line broken. DCL confirmed. Very early in a new cycle. I don’t expect a final cycle top until sometime in July.
Gary
Confirmed even it closed under the trend line?
T
All we have to do is break it to confirm. Ultimately it will close above and move far beyond. But for purposes of confirmation a break is all one needs to start buying. Of course we started buying earlier on Friday, when everyone else was watching the technicals and calling for a bear market … and getting left behind.
Thanks Gary.
Right on Gary.
Gary, Here is an update on my SPX Wedge watch and the Daily Cycle trend line was broken but I want to see a bit more confirmation into Friday before going long as there have been many head fakes lately.
Still plenty of time to catch the train if new ATH’s are ahead.
The best news out of this is that your Subs now have some stops in place to protect them. 😉
https://goldtadise.com/?p=370887
Great Gary. NDX making higher high. Double bottom? FYI bears , SPX so far is only corrective. NDX has made some important lower low, but SPX did not. And now NDX has turned up, making higher highs. NDX 5000 here we come?
The bears are totally done! Today is the confirmation that bull is resuming! Good work Gary.
Oil perking up this morning again.
Gary, don’t you wish you could use a couple of judo throws on them.
You would think if one keeps making the same mistake over and over, year after year that eventually they would try something different… but they never do.
Oh well the market needs losers, and dumb money retail traders are usually reserved as the bag holders at tops and bottoms.
Gary — DCL confirmed in stocks but since the rally is so intense today, would you wait for a fade before adding to longs, or are you already 100% long?
We got 100% long on Friday when I made that offer. I knew this was coming.
Well said. It is important to keep learning continuously without bias. Loose your bias, not your money. Price is king. Just ride it until it exhausts itself.
Alex,
“This is the time for swinger traders to buy a low-risk, low-weight gold position: stop loss at 1234 and profit target 1285 by Friday.”
done at 1229.65
NUGT may be close to a short term low. Would go all in on if it goes down to low 60’s over the next few weeks.
Well done, Gary! It still might be a bit early for your victory lap, as it looks for the moment like a low-volume sector rotation within an overall trading range. But I am your side and am long IBB, oil and just waiting on gold. Do you still think we’ll hit the equity market all-time highs in June?
Convinced me enough to buy a membership. Thanks for the insights Gary.
Looking good.
To da moooooon!!!
Once again energy stocks look Awsome Gary.. Oil to $60
Today should be a follow through day. Great! Now regarding gold, it has to do fib retracements, putting it in 1160-1190 ish. It has a trendline at 1200-1210. So, it has to break that trendline then we can start to scale in to buy. So laughable at the you are to be crucified for selling gold, no correction, going to 1500 argument. lol
It never changes. At the bottom the herd can’t buy. At the top the herd can’t sell.
If you want to get off that boat you need to join the SMT and start learning how cycles work. 🙂
I am still bearish for common stock. I sold my position long time ago, last summer and bought precious metals instead.
The line in the sand is a weekly close above 2140 for Spx but I suspect it will not break 2100. I can not decide, the market does.
For Gold&Silver we are in a corrective B-wave to be finished mid summer at sub 1200 for Gold and 15.70 for Silver.
Gary, Here is an update on my SPX Wedge watch and the Daily Cycle trend line was broken but I want to see a bit more confirmation into Friday before going long as there have been many head fakes lately.
Still plenty of time to catch the train if new ATH’s are ahead.
The best news out of this is that your Subs now have some stops in place to protect them. ?
https://goldtadise.com/?p=370887
Why in the world would you short the stock market when we are only 3 days into a new daily cycle?
The time to short is when the cycle is 30 days in not 3.
My last round of stock market shorts were very profitable 😉
The QID position is a very small starter position with a tight stop based on a speculative price channel. If it is wrong, I will get stopped out with minimal damage.
Gary and friends,
What vehicles will you be investing in relating to gold in the next few weeks? I was thinking of NUGT for the leverage but not too sure if it is safe to buy and hold for long period due to decay. GDX and GDXJ do not have enough leverage. Only individual companies left but they carry risk if you dont do homework. Like to your thoughts. If i had to pick 1 company it would be between GPL, FSM, DRD, AUY
I would never recommend NUGT for more than a few weeks due to the decay you mentioned (Wall Street loves the 3xers for that reason). GDX and GDXJ are also flawed, IMO because they have good and bad miners in the mix.
My favorites are: NEM, AEM, AG, NG, RIC, DGC.TO and MUX. PVG also has a good property with proven reserves. These are all well managed companies with low cost operations that should outperform over the long run.
For small mining stocks that are potential rocket ships, I would recommend Spock’s Rocks.
https://goldtadise.com/?p=370534
Thank you. Agree with the decay on x3 but just looked on the chart again, if one bought NUGT when it was at 20 and held would have made around 6x your money. So if you catch the next ICL not inconceivable for you get more than 100% return
Gary, RE: Gold, it is now almost 6 months from the early Dec 2015 low so I am curious how you KNOW that the ICL will be in late June? Also how do you KNOW that June will also be the Yearly Cycle Low?
Take a look at the Gold fractal from the 2009 bottom in this post? Where was the bloodbath phase ICL on the charts? Was it the 38%+ retrace near the normal 6 month ICL timing band (hardly a bloodbath). Also, where was the Yearly Cycle low on the move out of the 2009 low?
https://goldtadise.com/?p=370732
Lastly, most are not buying the metal here but rather the miners. GDXJ is up 50% since mid-February while Gold is only up 2% over the same period.
Most recently two notable resource investors, Ross Beaty and Eric Sprott, purchased / increased their stakes in two companies: Anfield Gold and Americas Silver.
These two companies are currently in their transition periods. In the not so far future they should perform much better.
Both investments were made at the time when most investors are trying to guess the direction of the gold market.
Ross Beaty and Eric Sprott are not guessing, they are buying.
http://seekingalpha.com/article/3977415-2-transitional-resource-companies-insider-buying