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Jordan Roy-Byrne, CMT, MFTA |
TheDailyGold: Inflation Peak, Gold Resumes Correction...
Published: Wed, 06/23/21
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Gold has resumed the correction that began last August. A few weeks ago I had hope that the remainder of the correction could be more of a bullish consolidation. That appears unlikely now.
However, bigger picture, Gold is still building the handle on the 9-year cup and handle pattern. Subscribers know I've never expected it to breakout this year. A 2-year long handle is perfectly normal. Or an 18-month long handle. In that bigger picture, that bird's eye view, this handle is a bullish consolidation. Heck, Gold could test $1575 and that would not change the technical setup. This interview is from last week but I discuss the peak in inflation, what it means for Silver and Gold's cup and handle pattern. Click Here for the interview In this article I analyze potential downside targets for Gold & Silver. Click Here for the article ------------------------------------------------------------------------------------------- I forgot to include this chart in TDG #731. I did include it a few weeks ago. This compares the correction in the HUI from 2004-2005 with the current correction. If gold stocks could have pushed higher another 10% this would have been dead on. There are some similarities to 2004-2005 but the Gold price held up better then.  Subscribe to TheDailyGold Premium for Only $149
------------------------------------------------------------------------------------------- In TDG #731, I reviewed our portfolio. Periodically I review the portfolio and where we stand with these positions. Right now I have a clear top 10. If a few certain stocks correct more with the sector, then I will have a potential top 6. Subscribe to find out what they are. The most money will be made by buying and holding the biggest winners and then managing your portfolio appropriately. (Trimming big winners, cutting losers & laggards). Stock selection is very important. Invest in the right companies with the most potential and you can ride out corrections. That's because in a correction there's still demand and these stocks will make huge moves when metals prices launch. "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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