Will It? Will It???

Tuesday, June 20, 7:34 am EST. Gold’s up ever so slightly this morning. Silver’s doing just a little better. Need to update the timer, to see if it’s getting much closer, and I might be able to be a little more specific as to what day I could anticipate a signal.

Okay, we’re approaching the $118 price objective, and the indicators are racing toward their respective signaling places. I could see a minimum of maybe 2 days for 3 or 4 of them. We don’t often get all 7, so if we can get 4 or 5 of them, I’d be thrilled.

It’s time to start thinking of what you would do, if an opportunity were to arise within the next week, or so! I believe I’ll take a NUGT position.

Harold

Metals Still Slippin’ Away

Monday, June 19, 6:42 am EST. I see the metals still slippin’ away overnight overseas. They’re off another .21% each. We’re likelier to get our signal, and it may be closer to getting there the latter part of this week, or first of next.

As I update the timer, and measure the risk… we’ll be watching for a lo-risk entry opportunity to arise. May it come as the indicators say so, and may we get the upside reversal worthy of buying then, as well!

Harold

Any Closer?

Friday, June 16 8:14 pm EST. This week is over. Volume was huge, but it was due to options expiration. It doesn’t mean anything to our analysis.

Prices were mixed. Gold was up, and silver was down, so the miners were all over the place. But, it does mean that the measures of risk would still be falling. I need to update the timer with today’s closing data.

Updating the OEXpert 7 Timer, the indicators are dropping down fast. I could see this market generating a signal possibly in the next week, if prices continue to be soft. It would help if GLD were to continue down to something under $118, and into its 2 lower trading bands that appear when I punch the F1 key.

We’re getting closer. Stocks are also wringing out risk. I’m watching both the stock market and the precious metals. I time stocks to time the purchase of my investments. I time the metals to trade the miners.

I’ll be away next week. There’s wi-fi where I’m going, and I believe I’ll have a working laptop or two along with me. I have every intention of staying on top of things while I hope to enjoy the southern side of Cape Cod, Massachusetts. Happy Fathers Day to all you dad’s out there! May God bless you!!!

Harold

Approaching Support

Friday, June 16, 8:27 am EST. Prices are approaching levels of support. Will they hold? Will it reverse to the upside? And, what of the technical measures of market risk?

I will update the timer, and get back shortly. The charts are looking interesting… most important support levels have been established as of May 4, March 8 thru 15, and December 20 thru 23rd. These are looking good, and make the case for a bullish longer-term uptrend.

Recent tops, for the miners,¬†of 6/6 and 5/17, along with previous highs of 4/13 and 2/8 show a bullish wedge pattern. Gold itself looks far healthier than even the miners… it’s been consistently eking out higher lows, and higher highs… also, a very bullish pattern set.

We’ve a rally coming. Let me update the timer to see if I can begin to possibly pick up on when that might be. Back in a bit…


8:50 am EST. Here’s what I see: The technical indicators are heading south very quickly. Several are not far from signaling. I could see this thing getting to where we’d like it to be in another week, or so. GLD is at $119.32, and would be elated to see it get down under $118. Let’s start to get ready. It’s early yet, but we may get our chance fairly soon!

Harold

Hard Times Hit?

Thursday, June 15, 7:18 am EST. Metals are down again overseas. I think we can expect this to get us to that place I’ve been wanting to be for some time… I hope!

As I enter the data and measure the risk, I hope to identify the next low-risk entry area. And, just maybe, the next time will be that one from which we will truly launch out of. If not, we’ll just keep watching, and waiting, as one really good bull market gold rally can make one a whole lot of profit. And, I, for one, want to be there when it does!!!

Back later with a timing update… but, maybe not until after today’s close.

Harold

Anybody Get the Number of that Truck?

Wednesday, June 14, 5:36 pm EST. That left a mark. The metals didn’t have a rough day, but the miners sure did! Wow, did they get knocked down! I’m going to look at the charts. I want to see how close to testing support they might be getting.

Clearly, it’s time to update the timer. Support is intact, and unbroken… but, in a number of instances, price is starting to get close. I’m 3 days behind, but I’ll catch it up Thursday, and see where we stand.

Volume was 64% higher than the 50-day average, which is a lot of volume compared to recent times. I’ve wanted things to settle back, that we might get a restart on a new rally… hopefully, one that will have ‘substance’ behind it. This kind of sell-off can go a long way to setting up such a low-risk entry as that. So, we will be watching and waiting closely, as we may get our next opportunity in another week or so!

Here’s to your accumulation of real wealth!
Harold

Maybe Next Time?

Tuesday, June 13, 6:05 pm EST. Was wading through all my emails, and saw this… I thought it was of interest, as it is actually stating what, I, myself, believe.

“Gold could begin its surge to new heights at any moment…

Ongoing worries around the globe helped to push the price of everyone’s favorite “safe haven” asset higher over the past month.

The uncertainty included a pair of terror attacks that rattled the United Kingdom over the past few weeks as the country prepared for its general elections.

We’ll need to keep our eyes on these situations in the coming months. In the short term, all these events helped to boost the returns of gold.

Last week, gold closed as high as $1,297 per ounce… its highest level since the week before U.S. voters elected Donald Trump as president last November. From May 9 through last Tuesday, the precious metal rallied 6.7%. It’s up about 10% overall this year.

Gold also flirted with the psychological barrier of $1,300 per ounce in mid-April, but there’s one key difference this time: As you can see below, it broke through a six-year downtrend.

The price of gold has pulled back about 2% from its high last week to $1,268 per ounce.

But if gold can finally punch through $1,300 per ounce for the first time since last November, it should be a great summer for investors who have put their money to work in precious metals.”

These kinds of things play to my sense of just what I think the charts are trying to say. The overall outlook appears to be bullish. We just need some catalyst to kick it off.

I’ll check the charts. If there’s anything to report from them, I will, otherwise… I’ll get back again tomorrow.

Harold

Is That So?

Tuesday, June 13, 7:19 am EST. Well, it would appear that we are getting just the pullback I had hoped for. I’ll update the timer, and see if the measures of risk are beginning to head for their reset, that we might begin to anticipate the next rally… and, may that one have conviction behind it, in the form of big volume.

It’s hard to believe, but with lower lows in place in December and March, we have a bullish picture before us. This is further reinforced by the bullish wedge pattern being eked out since the highs of last summer.

I’ll check the charts, and look at the prices again this morning, but what I think I see is that period of consolidation, of retracement, of correction since the last rally that began 5/4, and we really want that to play all the way out until our measures of risk are all wrung-out, then I’m going to step up and add some shares… probably by way of a position in the Triple-Leveraged ETF, NUGT, as trade.

If anything of further interest shows up, I’ll be back with it.

Harold

 

Talk To Me!

Saturday, June 10, 8:39 pm EST. Time to examine the 16 charts. What’s the situation? I think I’m looking at what is to be regarded generally as a sideways price consolidation action between closing nearby support underneath, and resistance just overhead.

It’s plain that’s what’s happening with CDE, HL, SGDM, PAAS, FSM, even GLD, SILJ, GDX, AG, SLV, WPM, NUGT, SSRI, PVG and ABX. That’s all, but RGLD. It has put on a more bullish appearance of late.

Looking at one chart that is an average of them all, the sideways consolidation between support and resistance is a clear as it can be. These things breakout, one way or another, and if I had to hazard a guess which way at this point, I’d say that I think the measures of this market’s risk are likely high (I will update the timer very soon), and therefore, I would actually expect the initial breakout would be to the downside, so as to disappoint a great many more traders and investors to quit and throw in the towel, selling off their shares in these miners… before they should launch again.

That’s the scenario that I would wish for, as I want to be in that place where I can anticipate the upturn, as I have been able a few times already. Back when I’ve updated the timer…


9:08 pm. Having updated the timer, my guess was correct. Market measures of gold risk in the program are reading high, and it would be more natural to expect that maybe some pain might be inflicted first, before we get to see another goodly rally to kick-off. Though we have very good support levels in place from December, March and May. One or more of these price support levels may yet need to be tested, before what we want to see might ever happen.

Harold

Slip Slidin’ Away!

Friday, June 9, 8:00 am EST. I’ve yet to get to any charts, but that’s okay. The metals didn’t play well Thursday, and the miners were, oddly enough, mixed. The metals are down some more overnight, and I expect we just might get what I’ve been hoping for???

That remains to be seen, of course, but it’s time, this weekend, to examine all the charts and the timing indicators, to see if I can possibly get a fix on when we might be able to expect the next potential opportunity to arise. I suspect it’s still, at least, a couple of weeks out… but, that’s what I’ll begin to look for.

More after I’ve conducted my study…………

Harold