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I apologize for the double send of the previous email.
Here are some links which I think you will find actionable...
Gold & Silver Moving Closer to Breakdown
The title says it all. The metals are nearing major support which has held for 7 months.
Interview with FutureMoneyTrends
Daniel of FutureMoneyTrends read the book and asked me a handful of questions. He was also kind of enough to let me give long answers. The interview mostly covers content from the book.
Gold: Big Move is Coming!
Tiho Brkan thinks a big move is coming and expects it to be to the downside.
Steve Saville on the Great Gold Debate & Gold-Backed Yuan
Steve Saville is one of a small group of gold analysts I've learned from and I enjoy his comments, though I don't always agree. He weighs in on a gold debate and a gold bug fairy tale.
Brent Cook comments on specific Junior Miners
Premium Snippets
Saturday's 27-page update (TDG #416) included an updated report on a company we hold at a gain in the portfolio. Among other things we provided introductory comments on a high-risk but very high potential turnaround play. There are only a few negatives with the company but many positives. We estimated that it could be worth 300% more at $1500 Gold in the second half of next year. Turnaround plays can have substantial upside.
We want to find the next LSG which went from 17c to $1.25.
A week ago we noted that the sector had been bifurcated. The group of roughly 20-25 companies we track is all over the place. Some are strong, some are weak and many are somewhere in between. Last week I noticed selling in some of the strongest names. They put in bearish weekly candles. When the strongest stocks start to weaken, it is a sign that more selling could be on the way.
Another insight for you (obvious to most I bet) is GDXJ has outperformed GDX since March. The ratio has gone from 1.20 in March to 1.33 on Friday. That Friday close is nearly a 5-month high in the ratio. So the selloff is picking up but juniors are showing relative strength. And, this is GDXJ, priced in US$ which as we know has been very strong.
Just take a look at GDXJ and the volume. The largest volume came in Oct-Nov with less volume in December and even less in March as the index made a new low, barely. It will be very interesting to see how GDXJ performs if Gold breaks below $1100. GDXJ has about 15% down to its daily low. Will it make a new low? Who knows, but the chart tells us that 1) selling pressure has abated over the past seven months and 2) there should be
strong support around $21-$22.
I took profits on my short positions on Friday. One thing I've learned is that with these 3x ETFs, is you have to take profits when they are there. Trying to buy and sell at exact points is very difficult. These positions are hedges and we shouldn't try to make huge gains. Also, its best to buy weakness and sell strength.
I could be wrong but I think metals may remain above key supports for one to two weeks. I'm not expecting a breakdown immediately. I'm hoping this is the case so I can get back into these positions. Judging from Friday's action, the metals could rally this coming week.
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Thanks for reading. I wish you all great health and prosperity.
-Jordan
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