Here are the links from this past week...
 

When Will Gold & Gold Stocks Correct?
Gold and the gold stocks particularly have been on a tear. What is the prognosis for when and where they may peak and correct?


Interview with Mike Swanson on Friday
We talked about Gold and gold stocks, if they are in a new bull and the prognosis going forward. 

Hedge Fund Manager Erik Townsend Comments on Oil & Gold
Erik Townsend joined us to discuss mostly Oil and the energy sector but also Gold.  
 

Get Real on Gold Fever
Post from Erik Swartz at Market Anthropology. He's not a gold bug. He's impartial. 


Oversold Rally & Global Economy
Latest post from Tiho Brkan. He covers US & global markets and the global economy. 


Interview with Rick Rule, Comments on Gold Stocks
Palisade Radio interviews Rick Rule







Premium Snippets 



Chart 1...

Here is data from Gold's CoT. I measure everything as a percentage of open interest.

From 2001 to 2012 the net position spent almost all its time between 20% and 60%. The current net position is 30.8%. Gold reached a 1-year high but the net position remains below the late 2015 peak and well below the early 2015 peak of ~48% when Gold touched $1300.

If Gold is back in a bull market, then 31% should not be considered bearish. By early 2009 Gold's net position climbed from 20% to above 50%. The current gross short position of 29% is not yet near a trough. Recently troughs have come at 15% to 20%. From 2001 to 2012 troughs were around 10%. There has been some short covering since Tuesday but there is room for more short covering before that figure goes to 20% or below.  






Chart 2....

The weekly top 15 index. 

Last week we wrote: 

I'd prefer it correct immediately (along with Gold testing $1200) and snapback to 138 (10% decline) before moving onto higher levels.

Interestingly, the index which closed the previous week at 152, did exactly that. It opened Tuesday at 140, hit a low of 137.99 and that was that. It gained 15.5% from there to close the week. In very strong trends, corrections are swift. The top 15 index has endured two 11% corrections in the past two weeks. The two corrections happened in a span of 6 days but each correction lasted less than 2 full days. The top 15 index has successfully re-tested the breakout in each of the past two weeks.

The index shows a potential ascending triangle pattern which projects to around 175. The next strong support is around 170-180 and that fits well with the upside potential in GDX and GDXJ.   
 

In TDG #453, a 30-page update sent Saturday evening we included a report on a development company that has just started to move and we feel is undervalued relative to its peers and long-term potential. We also commented on a handful of companies we are watching but have no interest in yet. A few companies with Copper-Gold deposits have been slow to move and that could be a result of Copper not moving yet. That figures be an opportunity whenever Copper starts to move.

The short-term trend remains higher and our work argues for another +10% upside potential in the miners. I'm looking to put a little bit of cash to work this week but will hold most of my cash in anticipation of the next buying opportunity. It might take a few months but it will come. Even if GDX runs to $21/$22, we expect it will retest $17.

To answer the question in the subject line, perhaps March.   

We are writing one company report per week in our updates. The amount of information and analysis you get in our updates simply dwarfs what other services provide. 

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I have subscribed to many investment services over my lifetime. I can honestly say Jordan Roy-Byrne has developed not only one of the most analytically accurate, but also has hit the high water mark by making his analysis feel personalized. In addition to a detailed weekly report, he often sends additional emails with daily observations of not only the physical metals and miners, but also related metrics such as the market and currencies. His service is a great integration of history and future probability that has not only helped me make money, but also avoid losing. In fact, the only time I do lose is when I take more aggressive positions than he has recommended, or follow my gut instead of his objective reasoning. It truly is a 5 Star Service at a great price.

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