XGD
AUD dying a slow death against real moneyXAUAUD - This has to be the most telling of all sorties of all.
While everyone continues to pile into trendy tech stocks operating in crowded consumer markets, harbouring astronomical debts, that make no profit, with PE ratios higher then Cheech and Chong. At the same time the unloved boring gold sector with low PE ratio businesses, no debt, free cash flow and cash reserves finally showing signs of life. Gold tells the story of a slowly dying monetary system poised to give the retail investors one last f**k you. Where will you be on the next bank holiday?
How did you go broke?..Slowly. Then all at once.
Aussie PM stocks consolidating, ready for move up?Australian precious metals stocks appear to have double-bottomed on top of their previous slow uptrend channel.
A further pullback in the gold price to the USD$1450 area (38.2%) will probably lead to the XGD retesting its current lows, but given the bearish look of the S&P500, this scenario is unlikely to last long.
XGD Gold stocks 45-day cycleI stumbled on this using the Tradingview cycle pattern tool and it seems to be a valid cycle although I don't know how long this cycle of bottoms and tops will continue. The next one is set for Oct 8. The only problem is I can't figure out if the next cycle date will be a top or a bottom. I guessed on the last one and made a 8.5% profit using HGU (2x ETF for XDG) buying on the next trading day after the cycle date and selling the next morning when it hit the top of the channel I'd drawn. Maybe someone else can figure out how to know if the next cycle date will be the start of a downtrend or uptrend. I tried a number of indicators and Bollinger bands but couldn't spot reliable pattern that I'd actually trade my own money with.
Long GT.caExcellent set up here. Broke over the double top trend line, back tested the trend line and now seems to be curling back up. Lots of room to run. Trigger at 0.77 with no much over head resistance since november 2017.
Set up NVO.ca (TSX)Nice set up here in this resource stock. Watching for confirmation of bounce on fresh uptrend start.. 4.65 good buy taget, with an add over 6.