All Systems GO?!?!?

Thursday, December 26, 6:10 am EST. Just looking in on gold and silver, and how they are trading overnight overseas… And, I’ve got to tell ya, it’s lookin’ pretty good!

I see gold breaking up through $1,500 an oz. again, and silver is approaching $18 an oz.!!!

It will be fun to watch and to see what volume will look like again today, as many traders will be away for the rest of this week, and a good many don’t even have plans to return until well into next week. If volume’s HOT, you can bet they left underlings with instructions, or they are placing commitments via online links away from their offices and consoles!

It sure looks to be real! My positions are lifting well, and I haven’t put any new ones on at all… yet. I might today. I love being in the no-pressure place, where I don’t have to do anything anymore… I can watch what we’ve got do well for us, and be perfectly content with that!

I don’t know if you look to, or read anyone else… But, did anyone else call it and catch it any better than I did? As Babe Ruth used to say, “It ain’t braggin’ if you can do it!” Hahaha I have to be careful though… the markets always have a way of humbling anyone… and, they most certainly do! Don’t take anything for granted!!! Until it clears all resistance, it could still get turned back. The last line of resistance isn’t too very much higher. I should calculate that and write of it next if today ends well.

Harold

We Have a LAUNCH!

Tuesday, December 24, 3:08 pm EST. A look at the chart of all the exchange-listed issues as their own index, and all the symbols I track, also as if they were an index, display the same thing… Overhead resistance was crushed! Further, for a shortened trading day, volume could said to have been pretty high… not monstrous, but high for such a shortened day.

Prices lifted off well, advanced a goodly ways, and closed very near their highs. You could hardly ask for anything more than that… Gold rose $13.80 an oz., while silver rose $.31. For gold, that was a .93% increase, while silver lifted by 1.78%. Those are both big numbers!

So, let’s see where they might look to open Thursday, and let’s also see if any kind of reaction arises, that might push prices back down to the previous resistance, to test it now to learn if it will be new support.

But, for all intents and purposes, as I stated yesterday, long before today’s open… would today be that day that we might see a kickoff of a new gold and silver price rally… and, the answer as of this time, would most certainly appear to be a YES! We have a launch….

Harold

 

Metals on the Move?!?!?

Tuesday, December 24, 8:26 am EST. It just might be happening today! The metals are up enough in overnight trading overseas, that we might just be beginning to see that possible break out of the channel the price of gold had been forming in recent months.

If so, this could be a real trading opportunity… It’s certainly well worth watching today. An eye on volume would be key, along with this possible breakout. A true breakout above overhead price resistance, on strong volume, so very typically announces the commencement of a new price rally.

It’s Christmas eve, and the market closes early today… I think at 1 pm EST. It would be possible to put a trade on today, and track the price of the metals online, as they trade ’round the world, until our markets reopen Thursday… If anyone felt so inclined. I’m not likely to, as I find myself (and, as I showed and explained to my wife), we no longer have to engage in any kind of new investing or trading, if we don’t want to… as, we find ourselves to have attained unto, and be in that place where we want to be, as far as our retirement income picture is concerned. She doesn’t want me to engage in higher-risk financial activity, and I don’t want to incur any unnecessary stress! So, Merry Christmas to you all… and, trade savvy, not stupid! If it’s truly going to launch today, and from this level, it is no error at all to give it another entire day to let it confirm first, then get aboard.

And, beside all that… it would also not be the least bit surprising if some selling were to also come in, and to push price back down to the resistance level, so as to test it to see if it has become price support. Should anything like happen, there would be another excellent opportunity to join in on the “holiday festivities”!!!

Merry Christmas to you all!
Harold

Short and Sweet

Monday, December 23, 7:40 pm EST. No need to write a whole lot. This is simple. It is short and sweet. Today the miners moved with some authority. The price move was good, but the volume was not indicative of anything, as it was little more than average.

But, the picture is of interest for this reason: Today’s price move took the chart of both my selected symbols and of every exchange-listed symbol in my database, from which I create my own ‘index’ of gold and silver miners, and in both charts, price was stopped, and slightly turned back… right at my very line of overhead resistance in the sideways channel that prices have been eking out for quite some time now.

Will price breakout tomorrow? If it does, will there be any significant increase in volume to say that traders are pouring in? What are the odds any such as that would happen… on a short trading day; the day before Christmas, when markets won’t be open?!?!? Hmmmmm.

Harold

A Sign of Good to Come?

Thursday, December 19, 5:31 am EST. I mentioned, last post, that the timing indicators in the Xpert for GLD were beginning to turn back down. Price had been bumping up against overhead resistance within a channel for 5 days in a row. I said that the best thing that could happen, would be if the price of GLD were to continue sideways, within the channel, or better, start back down toward the level of support within the channel… and, this morning, as I look in on the precious metals prices overnight overseas… they are off some!

My hope would be that we could continue sideways and/or down long enough to put the timing indicators into place for a new low-risk entry signal. Might it be a Christmas season gift to us all?

I’ll keep watching! If the indicators line up, AND they would appear to do so around a support price level on the chart, I’ll be getting excited and looking to place a trade!!!

Harold

Fifth Day in a Row!

Wednesday, December 18, 5:46 pm EST. GLD has bumped up against overhead resistance for the past 5 days in a row.

The good thing is; the indicators in the OEXpert 7 have, for the most part, begun to turn back down! This is good because it can go sideways, or even back down toward the bottom of the channel, and I’m likely to get a new low-risk entry signal!

I’d love to see the indicators line up at the same time that price is finding a technical price support level, say, maybe at the bottom of the channel!

I’ll be keeping my eyes open, waiting and watching. If anything happens, good or bad, I hope to be there to call it right when it does!

Harold

THIS is a Rally?!?!?

Tuesday, December 17, 5:24 pm EST. Well, depending upon what you’re looking at… there’s a rally on… Or, there isn’t! If I go thru each of the symbols, charting them separately… SILJ has been rallying wonderfully since mid-October! This is an ETF of junior silver miners. But, it just hit resistance at its prior high, and was turned back today on very low volume. My silver miner, AG, is also bumping up against resistance at its 52-week high, after a tremendous rally since 5/31. SSRM, another silver miner is looking much the same.

But, next comes the gold miner ETF SGDM, and it is doing that sideways channel thing since back in September, that much of the gold related stuff has been doing. It just hit the channel’s upper resistance line again yesterday, and was turned back today. WPM, very much silver related, or, it used to be prior to changing its name, is acting like the gold related stuff, and not silver. Barrick, GOLD, has been forming a round bottom since into September. GDX is acting like SGDM.

GLD, our ETF for the actual metal, and the symbol I track in the OEXpert 7 Timing program, is basing in a channel, and hitting overhead resistance within that channel. That technical resistance is also precisely at it own 50-day moving average, too, making it particularly strong. What is the timer, itself, saying? The mid and late November lows were marking out a real low-risk market entry signal. I’m talking Price, F1, F2, F3, F4, F5 and F6! There was an all-out low-risk signal given in November, but there’s been precious little gold price rally since then. What has happened in the gold price has lifted all those indicators out of their low-risk signal area. But, for all that, what has price done? Not much! In all of this, volume has been seriously drying up, too. Interest just isn’t there.

What’s really odd is how that the junior silver miners, and my silver miners in particular, have been doing so well, but as I look right at SLV, the ETF for silver, it’s going dead flat sideways in a consolidation since about mid-November… What’s with that? Final symbols, KL, RGLD and NUGT, are all unspectacular. BUT, and this is huge… Everything is trading above their own upwardly trending 200-day moving averages… these are all in a Bull mode! Only half are above their 50-day averages, however.

A look at a chart formed of all the exchange-listed miners is all about that sideways channel pattern since before mid-September. That makes the channel a little more than 3 months long now. So, we watch it to see which way price will break out of it… to the upside, or down, as that may be the start of the next real trend. That’s what I’ll be watching for. And, if the indicators keep climbing, while in this channel, the greater likelihood, I would think, would be that price would break down through the bottom of the channel. But, I’ll keep my eyes open for the actual move.

Harold

So, Where’d We End Up?

Monday, December 9, 6:14 am EST. Friday knocked the metals and miners pretty hard. I had been saying that they were knocking for multiple days up against overhead resistance within a sideways channel of price consolidation. I last closed with the question, did the fall of Friday result in the metals and/or miners breaking down through there price support residing underneath?

Looking at the individual charts for the 13 symbols I track… The answer is a very simple No. All, but KL are above their upwardly trending 200-day moving averages, and nearly all are still close to, being either above, or a bit below their 50-day moving averages. The same goes for my “index” of 57 exchange-listed issues… The price remained within is channel, and found support to rise right off of its 50-day moving average.

None, but Kirkland, have broken down through the bottom of their channel formation. So, technically, there is still a bull market in place for the metals and miners. And, at some point in time, price is going to begin to make a more major move, either to the upside, or down, that will break out of the channel, and violate moving average lines. The longer it takes to do so, the longer or broader will be this base, and, perhaps, also, the greater likelihood it will serve as a most sound level of support and a launching pad for a whole new bull rally in gold, silver and their miners.

We continue to watch! As if this moment, prices are up a bit overnight overseas… Friday’s hit is not following through into Monday.

Harold

That Didn’t Take Long!

Friday, December 6, 8:27 pm EST. The metals got rocked today, as did the miners. I closed yesterday by making the point that the miners had been trying to challenge the overhead resistance of the channel they were in… “Creating my own miners “index” of the 57 exchange listed mining issues in my database, I see the sideways channel basing pattern that has been under construction since mid-September. Price of my index is presently pressing these past 3 days up against the overhead line of resistance… I’ll watch for a breakout.”

I watched… and, it didn’t break out. I’ll get back and finish, but I think I will also find that they didn’t fall through the bottom of the channel either… In which case, the basing pattern would still be on. I’ll check on all that for sure, and finish this post later.

Harold

Is There Anything to Report? Yes!!!

December 5, 8:09 pm est. Don’t get frustrated with me! I’m frustrated, too! The metals and miners are a perverse thing! I only just recently learned, too, that there are periods when the metals and the miners do NOT correlate, and the gold can run away, and leave the miners in the dust! What a revelation that was when I saw that!!!

In any case, for the longest time it was gold that was doing well, while silver was nowhere to be found… Now, I see silver miners doing a recovery thing, while gold seems to be languishing! I see Junior Silver Miners (SILJ), leading the way, ahead of everything else! My SSRM is just about to challenge its previous highs of August and September!

Same with AG… see, it’s the silver miners pulling the freight here… I come to SGDM, and I see gold miners just tracing out a sideways channel for about the past 3 months. WPM is pushing up against some overhead right here at $28.35, which is the top of its similar channel as SGDM. Since GDX and SGDM are of similar issues inside them, they look about the very same, too. Eric Sprott’s SGDM tends to do a little better than GDX, however.

Now, gold itself, as GLD, is simply going sideways and doing nothing, or so one might be tempted. But, in reality, this is a great formation to be eking out, as it is most typically a base from which to launch higher in the future. My timer has said as much… as I’ll relate in a bit.

PVG had gotten seriously whacked, but it appears to be making its way back just fine. RGLD is struggling at a level of resistance, it’s own 50-day moving average. Barrick is basing, but on its 50-day, not under it. Then, and this blows me away… Silver, as SLV is not been moving in such a way as to give any reason for the silver miners that have been performing so well of late. What to make of that…. Closing with NUGT and KL, they show nothing to give reason to believe that we’re on the cusp of anything great. But then, these are all bullish, as every one is trading above its own upwardly trending 200-day moving average!

Creating my own miners “index” of the 57 exchange listed mining issues in my database, I see the sideways channel basing pattern that has been under construction since mid-September. Price of my index is presently pressing these past 3 days up against the overhead line of resistance… I’ll watch for a breakout.

With the OEXpert 7, and data only for GLD, I get a fine low-risk entry signal from the price and its relation to the program’s 2 lower trading bands, F1, F2, F3, F4, F5 and F6… These coincide well with the dates of the candles on the chart of 11/12 and 26.  And, since those dates, there has been NO price movement in gold to signify that from the above signal I just wrote, the metal has tried to rally… It is still basing sideways within a channel, and it is now, for the past 3 trading days, attempting to challenge the overhead resistance of the channel and it s own 50-day. So, there you have it… Will it break out and run? That’s the question of the evening, and the thing we need to be on the lookout for!

Harold