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Jordan Roy-Byrne, CMT, MFTA |
TheDailyGold: Correction Targets in Gold, Silver, GDX, GDXJ...
Published: Mon, 08/24/20
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The precious metals sector is in correction mode. Now we can turn our focus to support levels.
Here are potential lows that could be tested over the next few weeks. If you prefer the spoken word, here is an interview I did a week ago. We discuss the correction and the current context of the bull market. Moving on, Warren Buffett was in the news because he bought a position in Barrick Gold. Here is my brief commentary on that & what it means in the larger picture. Here is a different commentary on the conflict between making money and predicting something correctly.
Jordan has been way more accurate than most metals analysts and the people who pretend to be analysts.
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Moving along, there are some interesting ratio charts in precious metals right now. Here is one. We plot GDX (gold stocks) against Gold. The industry has badly underperformed the price of Gold. But, this chart suggests if the ratio can takeout the 2016 & 2020 highs then gold stocks would soon dramatically outperform Gold.  Moving onto TheDailyGold Premium...
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sift through the best and recommend a simple more condensed list with big upside.
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Sunday AM we published TDG #688, a 30-page update. The bulk of this update is charts on our companies. Our analysis includes buy target prices for majority of our holdings. You could join our service and get these prices immediately.
To recap, we also recently published two silver updates (TDG #685 & TDG #674) and a Macro-Market and Precious Metals report which was a condensed update of my 2019 book. The report focuses on the secular outlook going forward and the outlook for the current cycle in precious metals. I assess how long this cycle could last. By subscribing you could get access to all this immediately, plus a lot more and another 6 months worth of updates. My goal is for us to invest in things with 3x to 5x potential over the next 18 to 24 months. If we are lucky we find companies with more than 5x potential and some of our stocks still have that potential. Make sure you get into the best stocks with the most potential. The next few weeks should provide a decent entry point. 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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