Here are the links for this past week.....

Close to Bottom but not there yet
Written Thursday night, I felt a snapback rebound was coming but that it wasn't the bottom….though Silver & the mining stocks are extremely close.

Video Update on Gold
I published this video analysis on Wednesday. I just focused on Gold. Similar to my editorial comments, but worth a quick listen. 

Precious Metals are Oversold
A Post from Tiho written on Thursday, noting how oversold the precious metals complex is.

Portfolio Update: Bought Silver & China
Tiho buys Silver and China.

Dan Norcini Debunks Some Disinformation
There is quite a bit of hyperbole and disinformation from gold bulls. Dan Norcini debunks much of it in this excellent post.

Quick note for you guys- I am updating the free reports for you as the current ones are outdated. 

Premium Snippets

Judging from the bear analogs, various sentiment indicators and history we are very close to the bottom (at worst). At best, last week was the bottom. I think there is more to go but not much more. Silver and the mining stocks are certainly extremely close as they figure to bottom before Gold which has some more work to do.

There are a handful of things which lead me to that conclusion and I will share a few with you. First, below is a chart of our top 12 index. It formed a very bullish reversal and figures to rally for at worst, a few weeks. The index was down 9 of the past 11 weeks. A bounce was to be expected. However, I would expect some kind of retest. In early 2013 the index was down 12 out of 14 weeks. It took a few months to bottom after that point.  

How Gold looks against the other asset classes is very important. Before Gold bottomed in 2001 and 2008 it bottomed against the other currencies and assets. It was showing relative strength before it bottomed in US$ terms. This chart plots Gold against a foreign currency basket, commodities, US equities, and global equities.

Gold is showing strength against commodities and is holding up well against foreign currencies. But until that chart takes out 50 we won't know if it has bottomed or not. I think it has more work to do. Gold against US equities and bonds (not shown) is still a mess. Those charts could bottom and turn around quickly but that would take time. We need to see Gold show more strength against conventional investments. 

A historic buying opportunity is coming. In fact, it could end up being the best of all time. That opinion comes after analyzing history, valuations, sentiment, etc. However, Gold has yet to break below $1080 and the bottoming process could take a few months to play out. Patience are discipline is key if we want to take advantage of the opportunities to come. Remember, no major bottom occurs in only one day or one week. There will be plenty of time to buy at excellent prices. One just has to have the discipline to hold that position indefinitely or until the stop loss or hit.      

Consider a subscription to our premium service as I believe we have one of the best services available. We are the only credentialed technical analyst who is the editor of a service. Secondly, we are one of only a few people who run a real money portfolio. That means our goals are 100% aligned with our subscribers. Other well known newsletters have been puking their stocks in recent days. We sold everything in September and repeatedly urged subscribers to protect themselves. 

Weekly updates are sent on Saturdays while flash updates are sent when we make a trade. Reports are sent sporadically. Upon signup you receive all recent reports and updates which includes a recent Top 10 Company Report.

This Top 10 Report is a full 35 pages and 15,000 words long and is available with a subscription. Upon signup you will immediately receive all recent updates and important reports. Recently, we've published a Top 10 Stocks report, a Long-Term Precious Metals Outlook Report as well as a Global market update (with a new one coming). You won't be disappointed with this material.  

Thanks for reading. I wish you all great health and prosperity. 

-Jordan

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