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Jordan Roy-Byrne, CMT, MFTA |
TheDailyGold: Gold Stocks are Best When They Look Awful...
Published: Fri, 09/09/22
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In looking at various bottoms in gold stocks (2000, 2008, 2016, 2018, 2020) the charts looked bad. Really bad.
You don't want to wait for charts to look good to turn bullish, nor do you want to assume that bad = good. This is an art not a science. I explain in this article. Gold Stocks are Best When They Look Their Worst In a similar vein, Gary Tanashian highlights how the Dickens quote (it was the best of times, it was the worst of times) applies to Gold and gold stocks- at times like these. The Best of Times for Gold (and the Miners) ------------------------------------------------------------------------------------------- This chart is from Barry Bannister at Stifel. He has been one of the most accurate strategists over the last 20 years.
In the early 2000s he was on Jim Puplava's radio show talking about the commodity bull market. In 2012 he turned bearish on commodities and super bullish on equities. He thinks the stock market has begun a new secular bear and commodities & value stocks a new secular bull. While he is short-term bullish on the S&P 500, he shows potential comparisons to 1939, 1972 and 2000.  ------------------------------------------------------------------------------------------- In TheDailyGold Premium...
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