1. We’re only as good as our last trade. Please click
2. A week ago, the charts indicated that silver was
potentially set to begin a long period of outperformance against gold. That
has seemingly started “on
3. Note the black HSR (horizontal support &
resistance) line that was created by the lows around .01873 and .01889. Like
a wild bull, silver has charged into that price area, on enormous volume.
4. Investors should consider booking light profits on
trading positions now, while entertaining the view that this is probably only
the opening act of the “big
5. Where should you reload your trading gun with fresh
silver bullets? Please click
here now. Note the highlighted buying area.
6. There is a difference between booking profits and
calling a top. Generally speaking, professional investors sell into strength,
while amateurs try to call turns.
7. Silver is overbought against both gold and the
dollar, but it could make more highs
during this rally, before correcting.
8. Gold is also slightly overbought on the daily chart,
but that doesn’t mean it turns down.
here now. Gold has rallied about $90 higher, since mid-August.
9. Note the black HSR line in the $1675 area.
There’s another one at about $1715. We can’t know if gold will
decline from here, or rally up towards $1715. Since I’m heavily long
gold, obviously I’d prefer the next move to be towards higher prices.
10. Please click
here now. Gold may be making a short term top, or it could be
consolidating between $1660 and $1680, before
launching a powerful surge to $1700-$1715.
11. The $1647.50 price zone appears to be key support,
and I have buy orders there.
12. If the price surged to $1715, then I would recommend
booking more profits, and placing buy orders in the $1680 area.
13. It’s critical that investors carry long term
core positions that are never sold, because gold is the ultimate asset. It is
wealth itself. That’s a concept that is hard for many people to
14. Another key wealth-building concept that is
difficult to grasp is the difference between a “buy signal” and a “bullish event”. Please click
here now. You are looking at the GDXJ daily chart.
15. It could be described as a “technician’s dream”. Price
has surged to a new minor trend high, on very good volume.
16. I view the rise to $22.37 as the most important
technical event to occur in junior gold stocks in almost two years, but that
doesn’t make it a “buy
17. Please click
here now. If GDXJ rises to $23.38 or higher, the $22.18 area becomes a
buy zone for traders.
18. If GDXJ rises to the $27.16 area that I’ve
highlighted on the chart, and then declines towards $22.18, the area around $22-$23 becomes an
enormous buy for long term investors.
19. To view the current key buying areas for GDXJ
traders, please click
20. Note the blue HSR lines highlighted with green
circles at about $22.50, $19.83, and $19.09. Those are your points of action,
and mine, for buying!
21. I’ve noticed a big change in the general
morale of the general gold community over the past week. I want to see that
vibe “amped”, with a bullish view of the GDXJ chart.
22. Most investors have given up on QE3, but I’m
holding to my prediction that it occurs in September.
23. Volume is the technical lie detector of all major
market moves, and it is building on each rally in every precious metals
24. Gold is entering the strong season, and Iran-Israel
tensions are increasing. Overall, the gold market pendulum is moving quickly
and decisively, from bear to bull!
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