Get started

Miners

Gold's direction stay LONG I'm thinking that pullback (blue arrow) was either a 1/2 cycle low or the end of the 1st DC. If its the 1/2 cycle low we should move higher towards $1390 as the top. If its the later we are on day 2 of the 2nd DC. The first DC was 34 days long which is right in line with the previous cycles. If I am right we should blow past the previous high at $1348 easily. If we get resistance and start going side ways then it may be the end of the 1st DC and we get that notorious heavy sell off. IMHO
FX:XAUUSDLong
by bhowe
2
Don't Trust Today's Upturn in GoldIn my last post I mentioned that JNUG performs better when it closes above the Hull Moving Average . Today it moved decisively above the Hull, which I'd usually take as a bullish indicator. However, on this occasion, I don't trust it. The price of gold tends to move opposite the market. The market is down today for reasons of seasonality . Today (June 12) is what the Stock Trader's Almanac designates a "bear day"-- a day of the year on which the market has historically declined more than 60% of the time. However, it's an isolated bear day. Seasonality favors an upturn in the market tomorrow (June 13) and Friday (June 14). Friday is a "bull" day-- a day when the market has historically risen more than 60% of the time. There are several more bull days next week. I expect weakness in the price of gold as the market rebounds. Gold also tends to move opposite the dollar. The dollar is showing weakness today, breaking downward through some critical support levels. But in my experience, market movements on isolated bear and bull days can't be trusted for purposes of charting. I usually ignore moves through support or resistance on these days. The dollar may rise back above its supports tomorrow. If you're feeling lucky, you could even try shorting gold by buying the Junior Gold Miners' Bear fund (JDST). I'd only try a one-day short play, however, because even if the dollar does move upward tomorrow (an uncertain prospect), it may soon return to weakness ahead of the Fed meeting. As always, this is just an idea and does not constitute investment advice.
AMEX:JNUG
by ChristopherCarrollSmith
Gold Miners - Push Up Incoming Welcome back guys, sorry for disappearing for a while, I’ll be post more frequently after June! But in the mean time… here’s what I’m looking at right now. First, let’s acknowledge that trading gold miners have been pretty boring lately given the tight range it’s been stuck in. That’s why I was primarily day trading for the past month to avoid taking overnight risk, aka the battle between negative macro news and Trump trying to bring the sentiment back up by tweeting. Now if you look at the GDX chart, you’ll see that the past 31 days have been forming a symmetrical triangle pattern, meaning a lack of trend either up or down. However, this type of pattern usually represents a large move to either side is highly likely, since large players have been likely accumulating or dumping shares throughout this flat period. This time around, I’m betting that it breaks to the upside. The reasons are as follows: Potential catalysts for Gold and Gold Miners: 1.) GDX is showing very strong upward momentum on the Money Flow Index, which is similar to the RSI except adding in volume. It’s showing that even though prices are not trending, buying pressure is increasing. I see this as bullish in the short term. 2.) Macro news will likely remain negative when considering the EU, therefore positive for gold a. May has to step down, speculation is betting on the next leader to be tougher about Brexit. High potential for an exit without a trade deal to minimize economic impact. b. Economic growth will not likely show a strong reversal anytime soon, given that negative interest rates have done very little to spur growth so far. 3.) Macro news in the US will most likely be neutral. a. Trump will most likely continue to tweet positive hope for deal. He has to calm the markets at least until he’s re-elected. b. Labor market is still showing increasing tightness. However PMI and new home sales have been failing to meet expectations. c. Next round of corporate earnings will not likely be as easy to beat as this first quarter. Since expectations were set extremely low. 4.) Market sentiment has been tough to break recently. With money flowing in to buy up the gap downs. Mainstream media is usually a good place to judge how the general public is feeling, and usually you should be looking for confirmation of the opposite direction of whichever way the news is saying the market will go. Right now I see some positive and some negative, leading me to believe the market will continue to be choppy with no clear direction, which is bullish for gold since uncertainty will maintain a support for safe haven assets. 5.) M&A activity picks up, bullish for miners. (This is probably not likely to happen any time soon, just fun to think about) a. An increase in M&A activity could draw investor attention to this long forgotten sector. All in all, I’m currently long miners with a healthy position in $NUGT. Placing my stop-loss a little more than half a percent below the nearest support. There might be a final push down by the big players to gather liquidity in order to make the breakthrough push upwards.
AMEX:GDXLong
by FireFly450
1
GDX -Waiting for a buy setupWe are getting closer and closer to an important buying opportunity in gold miners. Though yesterday we almost tagged the 200 SMA and bounced I still don't see that buying opportunity what i like to see at the gold miners bottom. At the beginning of today's trading we broke above yesterday's high which is usually a buy signal but after a few hours of trading we gave back all the gains and closed in the red. I think we are quite close to the bottom in days - 4-5 days only - but these last few days can be extremely scary as we print the cycle lows. First of all I dont see the volume spike what usually occurs at these intermediate bottoms: The other thing that we stiill have a gap between 20.5 and 20.8 which pulling down price like a magnet: Today was the 5th day since we broke below an important level at 21.41 and usually these breakdowns lasting for 7-8 trading days: Today was day 5 of the breakdown. So I would wait with the buying till next week in the miners as we might have 3-4 red days ahead in the upcomong trading sessions.
AMEX:GDX
by chartwatchers
3
GDX Gold Miners First Take Profit Reached, Still Long Short TermThis is a continued trade based on my previous post. This was posted on my blog yesterday night We have a big week ahead of us with potential updates on several important political event, along with some important economic data being released throughout the week. The news that we should keep our eyes on are updates on the trade deal, and vote outcomes of the Brexit extension set to be voted on Wednesday. US and China are in what seems like the final stretch of signing a trade deal that could help boost the world economy, however we can’t discount the multiple occasions where US trade reps admitted that there are still issues which need to be resolved before a deal can be made. As long as investors are still in the dark, markets will likely trade in a range as the speculation continues. Wednesday is looking like a big day in terms of catalysts that could drive the market in one direction, at least in the very short term. We have the decision on the Brexit extension, as well as CPI numbers coming out in the US. These indicators and events could help Gold break out of its recently tight range and make a strong push in one direction. As previously mentioned in my daily posts, Gold has been consolidating at the bottom end of its descending triangle, meaning it’s found support and more likely to breakout to the upside than downside. As of writing this, Gold is up 0.4% overnight so far and I believe it’ll push up to at least the downward trendline. The US dollar is still relatively flat, and looks to be consolidating as well near the top end of the ascending triangle. My current view is still that it’ll likely trend down after some more sideways trading, however my thesis depends on the price action this week so stay tuned for my daily updates. Yields are starting to slip as investors wait for more catalysts, with CPI numbers and the Fed minutes being the most important ones this week. Gold miners will likely continue its short-term trend upwards given the bullish sign from Gold. While I am bullish on miners in the short term, I will be actively taking profits as it hits the previous resistances marked on the chart. My medium term view is still unclear and depends on further macro development and more concrete directional news flow. I will also be watching the price action throughout the week to gauge sentiment that might be helpful in my predictions. Have a great trading week everyone!
AMEX:GDXLong
by FireFly450
New Gold: interesting counter trend playAlthough the Precious Metals Miners are a bit of a mixed bag, there are a couple of interesting stocks for an aggressive long setup. One of the opportunities is New Gold (NGD).  Strong bullish divergence in combination with sector outperformance (near-term) suggests a fierce recovery move is getting under way. A bounce well into the CLoud resistance is the least to expect: 1.26 and 1.48 are the first levels to watch out for. Of course there is elevated risk, but with stops below 0.75 the 'gamble' is worth it. Near term trend: positive Long term trend: negative Outlook: strong recovery in down trend, positive Strategy: counter trend/recovery long-entry Support: 0.75 / 0.69- Resistance: 1.26 / 1.48 / 1.76+
AMEX:NGDLong
by buyem_nl
Kirkland lake blowoff phase Update from January. Seems like Kirkland lake's announcement of 1 million ounces was enough to get the investors to keep rushing in and create support where there once was resistance. If you are like me and it was enough to keep yourself into this play we now may want to stick around a little longer. There are two ways to play this: - Wait till the support line gets broken to the downside. - Wait till blow off leads to valuations significantly above support line. At the time I would say it would be significant if we see a move above 50 CAD.
K
by fatjohn