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Jordan Roy-Byrne, CMT, MFTA |
TheDailyGold: Gold Stocks & Juniors Hit Bottom...
Published: Wed, 02/10/21
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There is a good chance the gold stocks and juniors hit bottom last Thursday.
I share my analysis in this editorial. Here is my video analysis on the attempted Silver short squeeze, which fizzled out quickly. The video is from last week so its a few days old. It also includes some analysis of SIL & SILJ.
This chart compares the correction in Gold with an average of those in 2003, 2004, 2006 and 2009. In many cases, Gold began to rebound around 5-6 months from the previous peak. It has been 6 months since the early August 2020 peak. I'm not sure if Gold is going to rally to a new high in the months ahead but my main goal is that it establishes a low.  This chart compares the current correction in GDX with those in 2006 and 2002. I realize the chart is quite messy and I should make a new analog and perhaps an average of the corrections. The important takeaway is those two examples rebounded to 41 and 44 around the end of winter. GDX closed at $35.  Moving onto TheDailyGold Premium... Jordan's newsletter The Daily Gold is the best deal in precious metals investing. He is sharp, experienced, honest, doesn't overhype, disciplined, and he is killing it in this bull market with well researched picks that are outperforming the GDX & GDXJ with less risk and better
upside in my opinion. Seriously, check it out.
In TDG #712 we focused on the technicals of the sector and the potential important low. We rated several of our stocks buys with the rest either accumulate or hold. (We have a column in the model portfolio with this rating for each stock). Over the short-term I like the upside potential in two of our exploration stocks. One is trying to breakout while the other is very oversold and has begun a bounce. That's the one I mentioned last week, which has up to 4x upside and is a no-brainer takeover target. "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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