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Chart 1: Gold Stocks Daily Bar Chart
Here we plot the daily bar charts of GDX and GDXJ.
The gold stocks declined after the start of last week. For the short-term trend to remain bullish the gold stocks should hold above the blue lines and 200-day moving averages. They already rebounded from the 200-dma's nearly two weeks ago. They could correct more and consolidate but as long as they hold above those support levels, there is a good chance the uptrend will resume.
Saturday evening, we published TDG #553, a 25-page update which included an updated report on one junior explorer, an extensive Q&A section and notes on some of our companies that were in the news.
Here is a snippet of our page 1 summary:
Sentiment is getting bullish but we see nothing that points to a major pullback. The net spec positions (against open interest) are 40% for Gold and 25.5% for Silver. As of two days ago daily sentiment readings were as follows: Gold 84% bulls (21-dma 68%), Silver 68% bulls (21-dma 54%) and US Dollar 17% bulls (21-dma 35%). Open Interest and speculation is increasing in Gold but has not hit an extreme yet.
The junior explorer covered in the update had 5x-7x potential when we bought it. Although it has since gained +40%, we think it continues to offer significant upside potential. The company will soon report drill results from both projects- one of which is being financed by a major. Over the next two years the company figures to have a significant amount of capital going towards its projects (relative to its market cap).
A month ago or so we published an updated report on one of our favorite explorers. This company released some important news recently and the stock responded. That was covered in the update.
We were one of the first analysts in on the stock (early last year) and subscribers who acted then have tripled their money. This company could be one of the biggest stories in the industry over the next year or two.
Not a subscriber? Now is the time to get serious about this sector. Do not wait for the sector to breakout and be forced to buying stuff that is already moved 100%.
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You nearly always read the trends and support and resistance extremely well. Please keep us posted if or when the outlook seems to change. which you always do of course. TDG is the most valuable resource for understanding what is possible to understand about the PMs.
I appreciate your service and have some concept of the work that goes into it. Your stock picking is excellent.
Thanks for being a good stock picker and an excellent chartist.
I have been a subscriber since late last year and just wanted to say thanks. You are the best analyst for gold stocks that I have found. (And I have been around for quite a while : ) )
"I am simply a pure market-timer for a broad basket of gold stocks and precious metals. Jordan, on the other hand, has provided superior STOCK-PICKING abilities over the longer-term. I am familiar with most gold stock subscription services over the past 30 years. I rarely provide endorsements of any kind, but Jordan's ability to analyze individual gold/silver stocks has been among the top 5 services over the past decade. First and foremost, I respect his integrity. - Dr.
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Thanks for reading. I wish you all great health and prosperity in 2018!
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Disclaimer: This newsletter is intended for informational and educational purposes only and should not be considered personalized and individualized investment advice. Investment in the precious metals sector contains significant risks. You should consult with an investment advisor and do your own due diligence before making any investment decisions. This email may contain certain forward looking statements which are subject to risks, uncertainties and a multitude of factors that
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