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Jordan Roy-Byrne, CMT, MFTA |
TheDailyGold: How Will This Correction in Gold Stocks Play Out?
Published: Tue, 09/29/20
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Precious Metals are now confirmed to be in a correction/consolidation. We are 1.5 months into it.
How long do these things last? What form do they take? Here are some answers in my editorial. As investors, what do we do during these periods and right now? Here are my tips in a 4 minute commentary. Here is another good piece from Steve Saville. It's titled: The Inflationary Depression of the 2020s. You offer such an excellent subscription service. In my opinion, your analysis is so sophisticated and accurate, but yet it is very simple to follow and learn from. I have also subscribed to 3 other newsletters, but up to this point, yours is the BEST! The other writers don't give enough good, solid reasons why I should buy their recommendations. The 2 things I ABSOLUTELY LOVE about your updates are the technical analysis of support and resistance. And the possible upside and downside of each pick. I need SOLID reasons why I should consider buying something. Great work Jordon. You’re the best in your space probably the best in all PMs
Jordan has been way more accurate than most metals analysts and the people who pretend to be analysts.
I have tried quite some subscription over the years and yours has been best of all hands down.
Moving along, here is a chart of the Euro & the net speculative position (white). The net spec position in the Euro is extremely high, which means the specs are betting on a Euro rise & Dollar decline. Look for the dollar to continue to rally as, at a minimum, some of this big position will need to be unwound.  Moving onto TheDailyGold Premium...
I have seen and tried a few of the news letters. Yours is by far the best, yours is the only one that really gets the technical analysis down. Fundamentally I really like your picks they are all low risk minimal downside with huge upside. I have found some of the other news letters pick a lot of risky exploration stocks or they simply have far too many companies. You seem to
sift through the best and recommend a simple more condensed list with big upside.
I’ve been reading JRB for over 12 years and a subscriber for 2 years. Excellent, outstanding honest service, best investment newsletter I’ve ever made (and I’ve been through many). My only regret is not being more patient and listening to JRB more closely!
In TDG #692 published 8 days ago I wrote:
I know there is some possibility that GDX and GDXJ bottomed at $39 and $55 but Gold’s history (above), the weak advance decline line and bearish weekly candles argue there is a good chance the miners dump lower. GDX’ A/D line is at a 2-month low and over the last 8 weekly candles (for GDX & GDXJ), at least 6 signal distribution. In any case, continue remain patient. I don't always get it right but I do understand the technicals of the market as well as anyone. I can give you a sense of where the market is, where it's going and how to invest during those periods. In TDG #693 I charted our portfolio holdings and noted buy price targets in CAD$ and US$. In Q&A I answered one question highlighting our holdings by tiers. My goal is for us to invest in things with 3x to 5x potential over the next 18 to 24 months. Make sure you get into the best stocks with the most potential. We could see some very good entry points coming. I look forward to helping you make money. "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. -Jeffrey Kern, SkiGoldStocks.com
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