Gold Mine Stocks
Gold Mine Stocks
Gold and Stocks Rally but is it time for a Little Pullback
Gold and Stocks Rally but is it time for a Little Pullback
It has been a very interesting week thus far. Monday kick started traders with a heart pounding equities sell off which sent money into the US Dollar, precious metals and bonds as the safe havens of choice.
A lot has happened this week on a technical analysis basis which I can’t really show in a written report like this. But can do so in detail within my video newsletter. There are just to many charts required and layers of analysis to cover… But I can cover some of the points and my thoughts using the charts below:
SPY 30 Minute Intraday Chart
This chart shows the volume traded at various price levels for the SP500 index. These high volume levels act as support or resistance depending if you are above or below them. On Wednesday we had large gap higher into a resistance level which the market could not break through. So I am expecting to see the market take a pause and fade back down to fill part or all of Wednesday’s gap window.
While most gaps tend to get filled. Gaps that occur right at the beginning of a new trend when momentum is strong. They generally do not fill all the way down to the bottom. I expect a couple days of sideways to lower price action. Buyers should step back in and send the market higher next week if this trend is to continue.
GDX – Gold Miner Stocks – Daily Chart
Gold stocks have been underperforming the price of gold bullion for several months. This typically is not a strong sign for physical gold prices. That being said I do feel the majority of investors are seeking true safety and want to own real gold and not some highly leveraged gold stock. This to me is more of a risk off trade for global investors and it explains the performance.
From the recent price action shown on the GDX chart I am expecting to see prices trade sideways or lower in the coming days. A sideways move would actually be bullish and would signal a possible breakout to upside. So that is what I am hoping will unfold in the coming days/weeks.
US Dollar Daily Chart
The dollar continues to get sold at a tremendous rate and the Fed is devaluing the currency as quickly as they can trying and save the world one dollar at a time…
The trend is strongly down but it’s starting to near a point where we should start to keep a closer eye on it for signs of a reversal to the upside. When the dollar makes a move higher and starts a rally it will put downward pressure on stocks and commodities. We must be prepared to move our protective stops ups and possibly take advantage of falling prices in the near future. Until then remain long equities and commodities.
Mid-Week Trend Conclusion:
In short, it looks as though stocks and commodities are in favor again. Monday’s panic sell off looks to have shaken the masses out of the market and the big money players were buying up all the shares they could. Members and myself are sitting nicely in our long positions and this could be the start of something exciting.
You can get my Pre-Market Trading Analysis Videos, Intraday Chart Updates and Trade Alerts with my Premium Newsletter: http://www.thegoldandoilguy.com/free-preview.php
Chris Vermeulen
Gold Mining Stock Pick: UXG (PART1)
|
|
ESTATE VINTAGE NEW OLD STOCK 14K WHITE GOLD DIAMOND MINE CUT NICE APPROX .50CTS $550.00 |
|
|
20 STOCK BOND SHARE CERTIFICATES OF GOLD MINE CONGO AFRICA COLONIAL PERIOD WWII $99.99 |
|
|
1888 Montrose Mining Company Stock Certificate OURAY COLORADO Placer Gold Mine $85.00 |
|
|
Alaska gold mine stock certificate- Talkeetna $75.00 |
|
|
Lot: 5 pc 1907 Mining Co Stock Goldfield Nevada Mohawk gold mine (Western Union) $55.00 |
|
|
CALIFORNIA GOLD RUSH STOCK CERTIFICATE Mine/Mining/Santa Clara County ORIG 1853 $46.99 |
|
|
Alaska gold mine stock certificate- Cantwell $29.95 |
|
|
1883 The Yellow Jacket Silver Mine – Stock Certificate – Gold Hill Mining Dist. $27.50 |
|
|
GOLDEN GLOW MINING CO antique stock certificate Idaho 1920s gold mine history ID $15.00 |
|
|
original antique 1922 the plumbago gold mine company stock certificate $15.00 |
|
|
LEE’S CREEK GOLD MINE STOCK AD – PORTLAND ORE 1906 $15.00 |
|
|
Old California Gold Mine Stock Certificate $12.50 |
|
|
Western Deep Levels South Africa gold mine stock share $6.99 |
|
|
Blyvooruitzicht Gold Mining Company South Africa mine stock certificate share $4.99 |
|
|
COLORADO CITY CO GOLDEN CYCLE GOLD MINE ORE REFINING MILL & LUMBER STOCK $3.99 |
|
|
Apple iPod 4 GB mini M9160LL/A (Silver) OLD MODEL The engineers at APPLE squeezed all the finest features of the celebrated iPod into an anodized aluminum case weighing just 3.6 ounces, and smaller than any cell phone. This scratchproof, stainproof wonder provides over 25 minutes of skip protection, and lasts up to 8 hours per battery charge — so, for once, you pay no penality for miniaturization! Includes sleek, wide range earbud headphones F… |
|
|
Metal Gear Solid $129.95 This software is BRAND NEW. Packaging may differ slightly from the stock photo above. Please click on our logo above to see over 15,000 titles in stock…. |
|
|
Unreal Tournament: Game of the Year Edition $14.99 This software is BRAND NEW. Packaging may differ slightly from the stock photo above. Please click on our logo above to see over 15,000 titles in stock…. |
|
|
Desperados: Wanted Dead or Alive $8.78 This software is BRAND NEW. Packaging may differ slightly from the stock photo above. Please click on our logo above to see over 15,000 titles in stock…. |
|
|
Junior Mining Investor: 14 Natural Resource Experts Show You How to Invest Profitably in Emerging Gold, Silver, Platinum, Base Metals, and Uranium Mining and Exploration Stocks $22.95 Junior Mining Investor brings together the combined wisdom of 14 mining-industry veterans to reveal how they make money speculating, trading and investing in junior mining and exploration stocks. These issues trade like no other sector and the potential to double or even triple your investment in 2-3 days means you have to be in the right stock at the precise time. Each succinct chapter presents t… |
|
|
Bonanzas & Borrascas: Copper Kings and Stock Frenzies, 1885-1918 (Western Lands and Waters) $38.99 The second of a two-volume study of the heyday of gold, silver, and copper mining in the American West is unique in both scope and approach. Here is a saga of mines and money, of the richly profitable bonanzas and crushingly profitless borrascas of the West. Richard E. Lingenfelter describes how miners, managers, investors, and speculators produced enormous wealthâspurring the American e… |
|
|
The Bre-X Fraud $21.12 The history books will add the Bre-X saga to other legendary frauds like the South Sea Bubble. When the Bre-X bubble burst, the stock that had soared from fifty cents in 1994 to the equivalent of $286 in 1996 was worth nine cents in May 1997, before trading halted forever. And the Busang deposit, supposedly as much as 200 million ounces of gold, worth about $70 billion U.S. â the biggest gold… |
