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Graceland Updates
By Stewart Thomson
1.Most amateur gold market investors look for �road
signs� that suggest gold is in a bull market or a bear market.
2.In contrast, professional bank and FOREX traders focus
on price levels.
3.These levels are powerful support and resistance zones
where professional investors buy weakness, sell strength, and do so very
aggressively.
4.On that note, please click here now.Double-click to enlarge
this important daily gold chart.
5.Investors should not waste too much time trying to
discern whether gold is going to �hold� at a certain level when the
price goes there.
6.When the price of gold enters a key buy or sell zone,
it�s better to think less, and simply act with firm buy or sell action!
7.There were a lot of reasons why gold should have gone
higher in the $1305 - $1320 area, and it did go to about $1380, but that
doesn�t change the fact that $1305 - $1320 is a selling level of importance.
8.Likewise, I�m sure that most gold investors are nervous
now.They likely have many reasons why the $1230 - $1200 area should not be
bought.
9.Unfortunately, I don�t believe that analysing a key
support zone builds any wealth.Buying it does.
10.It�s true that gold can move lower than $1200, like it
moved higher than $1320, but that doesn�t change the fact that $1200 is a
good buying area.
11.Please click here now. Central banks continue
to buy substantial amounts of gold, and that�s generally price-supportive.
12.Next, please click here now. While most investors
wonder if the dollar is beginning a new leg higher, Barron�s master analyst
Shuli Ren wonders if it�s time to unwind long positions!
13.I think so, and the unwind could be the catalyst for a
major gold price rally.On Friday, I sold the bulk of my long dollar/short
yen position at the 110 price level.
14.To view the current key price levels for the dollar
against the yen, please click here now. Double-click to
enlarge.
15.For investors whose main focus is getting richer, it
doesn�t matter whether the dollar is in a bull market or a bear market.What
matters are key buy and sell price levels, and the dollar is at a key sell
level right now against the safe haven yen.
16.RBC Bank economists turned positive on oil in the
fall, and now Goldman�s heavyweight team of analysts are joining the upside
prediction fun.
17.On that note, please click here now. Goldman is tactically
bullish, and with good reason.
18.Oil is the largest component of most commodity
indexes.The oil price has a huge effect on institutional inflation expectations.
19.RBC believes an OPEC deal with teeth is imminent.I
agree.To view the price action, please click here now. Double-click to
enlarge this eight hour bars oil chart.
20.Goldman�s fundamentally-oriented analysts have a $55
target now, and I�ll note that if oil can hit $55, it would take out some key
highs on the chart.That should usher in substantial commodity fund buying of
both gold and oil.
21.A rollover in the dollar would add to the oil price
rally.
22.What about gold stocks?Well, please click here now. Double-click to
enlarge this GDX daily chart.
23.GDX has arrived at the key $20 round number level.It�s
done that just as gold has moved into the $1200 area buy zone.That�s
significant.
24.Eager gold stock enthusiasts can be buyers here in the
$20 zone.Note the action of my 14,7,7 Stochastics oscillator, at the bottom
of the chart.It�s very positive right now.Also, Chinese jewellery companies
are poised to begin their buying for the upcoming New Year celebratory
season, and that tends to precede a great January rally for GDX.As Christmas
approaches, tis the GDX season to be jolly!
Thanks!
Cheers
St
Stewart Thomson
Graceland Updates
Note: We are privacy oriented.We accept cheques,
credit card, and if needed, PayPal.
Written between 4am-7am.5-6 issues per week.Emailed at
aprox 9am daily.
https://www.gracelandupdates.com
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Email:
stewart@gracelandupdates.com
stewart@gracelandjuniors.com
stewart@guswinger.com
Stewart Thomson is a retired Merrill Lynch broker. Stewart
writes the Graceland Updates daily between 4am-7am. They are sent out around
8am-9am. The newsletter is attractively priced and the format is a unique
numbered point form.Giving clarity of each point and saving valuable reading
time.
Risks, Disclaimers, Legal
Stewart Thomson is no longer an investment advisor.
The information provided by Stewart and Graceland Updates is for general
information purposes only. Before taking any action on any investment, it is
imperative that you consult with multiple properly licensed, experienced and
qualified investment advisors and get numerous opinions before taking any
action. Your minimum risk on any investment in the world is: 100% loss of all
your money. You may be taking or preparing to take leveraged positions in
investments and not know it, exposing yourself to unlimited risks. This is
highly concerning if you are an investor in any derivatives products. There
is an approx $700 trillion OTC Derivatives Iceberg with a tiny portion
written off officially. The bottom line:
Are You Prepared?
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