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Chart 1: Stock Market Oversold Indicators
In the chart below we plot various indicators that can determine if the market is at an extreme oversold condition or not.
We plot the Vix, the put-call ratio, the percentage of stocks above the 50-dma and new highs minus lows. The blue lines show the extremes for each indicator.
As we can see, each indicator has more room to move (whether its up or down) to reach an extreme. For example the Vix is only at 21. An extreme would be almost 40. The percentage of stocks above the 50-dma is at 30%. Below 15% would be very close to an extreme.
TheDailyGold Premium #597
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We published TDG #597, a 24-page update Sunday morning.
Even though we've been bearish on the sector since spring and keeping heavy cash positions along with occasionally some hedges, there are companies that are performing well and we continue to hold a handful of stocks.
This update included a report on a company that has been a strong performer this year. The good news is I think it has topped and will probably decline some more. In the report I provided buy targets.
I'm not selling this company because it is a very strong takeover target. I expect it will be acquired in 2019.
This is a great time to subscribe because we are updating reports for our top holdings. So you can get an immediate update essentially on these companies.
The miners rallied but was last Wednesday a top? If the miners look like they will breakdown again and get close to it, we are prepared to profit from the downside just as we did in August.
Conditions are definitely improving for precious metals but they aren't bullish yet.
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Man! I wish I would have signed up for your service last month. I think you could have saved me from the bloodbath in my account. I have liked your approach.
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I follow your work and it's very impressive -- am considering subscribing even though I focus on futures and macro more than individual equities. You are a refreshing voice in a space full of doom-and-gloomers, perma-bulls, and precious metals salesmen.
My 6 month renewal is due once again. Your work continues to be outstanding and I want to make sure there are no disruptions in the service.
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.
Subscribe to our service for only $149 and find out which juniors are great values and have massive potential over the next 12-18 months. (And we answer subscriber questions).
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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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