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Monthly Archives: February 2017
SMT UPDATE
Well our stops were hit so we are now back in cash.
The leveraged portfolio is up 158%.
The unleveraged metal portfolio is up 82%.
Now we will have to watch and try to determine when the daily cycle has bottomed and then decide if we want to reenter.
We made some nice profits on this rally and I may just decide we made enough and we’ll wait for the next ICL in May or June.
In the meantime there should be a DCL in the stock market sometime soon and that may be the next long trade opportunity when it occurs.
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CHART OF THE DAY – The US Dollar
The US Dollar
A close below the 10 DMA on the US Dollar would be the “second step” in the confirmation that its daily cycle is rolling over and starting the next leg down in the intermediate decline. The first confirmation was the initial break of the daily cycle up trend line.
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WATCHING THE DIVERGENCE
CHART OF THE DAY – MINERS NEED TO LEAD THE METALS?
Do Miners Need to Lead the Metals?
It’s a common misconception that miners always lead the metals sector. As you can see in this chart the miners often produce false signals.
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DCL COMPLETE, NEXT LEG UP BEGINNING
The next leg up in a new daily cycle for the precious metals has begun. Silver is breaking away above its 200 dma with little resistance now until it reaches $19. Gold is approaching its 200 dma and once it breaks through that resistance is expected to top somewhere above $1300+.
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