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Here are some links which I think you will find actionable...
Gold & Silver Headed for Breakdown
We penned this article on Tuesday evening. The article includes a few charts which support our position that a breakdown could be imminent.
Podcast: Tiho Brkan Comments on Precious Metals
Tiho provides his latest thoughts on Gold, Silver, gold stocks & GDXJ.
99 Barrels of Crude on the Wall
Erik Swarts/Market Anthropology makes some comparisons to 1999. He looks at Oil, bond yields as well as Gold. Interesting thoughts and many charts.
June ML BOA Fund Manager Survey
Great information and charts on the sentiment in various markets and assets. Be sure to check this blog regularly. Great actionable information.
Jim Rogers Interview with PeakProsperity
Latest thoughts from Jim Rogers.
Premium Snippets
There is no way to sugar coat it. Metals look terrible right now and sentiment is nowhere near the extremes that I'd like to see. That is something I covered in TDG #419 sent on Saturday. The net speculative position in Gold is back up to 23.4% while for Silver its steady at 15%. The 2013-2014 lows were at 4% and 5%.
Below we have the weekly candles for Gold & Silver. It's not looking good for the bulls. Metals could certainly rally for a week or even two but to me that is delaying the inevitable.
In the update we gauged potential downside in the HUI based on the monthly chart. This is a daily line chart and it includes two oscillators: the HUI's distance from its 200-day ema and its 200-day rate of change. You can use these as overbought/oversold indicators and you can put in any number.
There is a strong risk that the as the metals break lower, the HUI will break lower and hard. The HUI does not have any royalty companies in it and another negative (same for GDX) is large and major producers have debt. Lower Gold price obviously exacerbates things for miners with debt. Anyway, if the HUI plunges lower we can consider support at 100 and see how oversold these oscillators get. It will help us spot a low risk buying
opportunity.
Here is a daily bar chart for GDXJ and GDX showing support and resistance. GDXJ has yet to break while GDX already has.
In our last update to you we noted we would increase our hedges if precious metals bounce. We've been using any strength to add to our hedges. Precious metals are somewhat oversold and could certainly bounce but my view is that those are opportunities to hedge long positions. (We do have some long positions but we are completely hedged).
Consider a subscription to our premium service as you will immediately receive all recent updates as well as recent company reports (a 48 page file) and our book, "The Coming Renewal of Gold's Secular Bull
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This is an important point as it appears that the bear market could end with a really loud bang in the months ahead. We will be using various technical indicators and sentiment indicators to assess developments and position our portfolio appropriately. Find out the stocks we are watching and planning to buy in the months ahead.
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Thanks for reading. I wish you all great health and prosperity.
-Jordan
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