Blog Archives

Gold is a Great Trend Buy Right Now

Today the Gold price finally got the job done.  The GLD was flirting with new all time highs for a whole month and teasing both the bears and the bulls.  With today’s very clear sign of strength, the GLD ETF and the DGP ETF is a very clear trend buy right now for more upside in the months ahead. 

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Posted in Commodities, Commodity ETF
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Is the SLV ETF Still a Good Long From Here

A comment poster wrote me and asked me if I thought the SLV ETF was a good long from the 37 level.  My response would be that one should be keenly aware that the SLV has already made a huge move from early February 2011 up until the present time frame. 

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Posted in Commodities, Commodity ETF
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Silver Futures Do Retest of Key Short Term Support

Silver Futures seem to have managed a successful Wyckoff Retest of the near term and short term support range of 36.43.  Today they printed a hammer reversal and the low of the hammer was the break out level of 36.43.

In the short term I think it is important to hold 36.43,

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Posted in Commodities, Commodity ETF
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Can Gold Break Out to a New Life Time High Next Week

I just reviewed the weekly GLD gold price chart versus the MACD histogram and I think I have to come to the conclusion that there is a pretty good chance that next week is the upside weekly break out week for the GLD to new life time highs.

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Posted in Commodities, Commodity ETF, Gold Market
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Mining Stock Boom Coming Soon

There has been a lot of ‘chatter’ lately about how the gold price may be at a major top.  I keep looking at the GLD price chart since October of 2010 and have been trying to come to a bearish conclusion but am having a hard time doing so.

It is clear that the GLD has shown a struggling attempt to make new all time highs from the period October 2010 to end of year 2010. 

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Posted in Commodities, Gold Mining Stocks
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Gold Price ETF does a Teaser Life Time High Today

Today the gold price ETF and the spot gold price rallied up to life time highs but then sold off end of day to settle and close under yesterday’s low.  I have seen this type of action before on the gold price as it attempts to break out to new all time highs.

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Posted in Commodities, Gold Market
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Still Long URRE Uranium Resources Inc but Nervous

I am still long URRE Uranium Resources, Inc, the uranium mining stock but I am a bit concerned that it will not be able to break out of the recent long consolidation.  Actually it already did break out of the down trend line of the consolidation, but it has not shown much follow through action as of yet while other uranium miners are still charging ahead.

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Posted in Commodities, Commodity Stocks
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A Mega 10 to 15 year Bull Market in Commodities

I was contemplating a little bit the MACD of the monthly inflation rate chart I posted a few days ago this past weekend and it occurred to me after reflecting on the yearly portion of that chart that we have not really even begun the commodity bull market

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Posted in Commodities, Long Term Charts, Long Term Trading, US Dollar Index
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GLD ETF Soundly Rejects the 129 Range

The GLD ETF today gave a good signal that it really wants to reject the 129 range which is the bottom of the current extended trading range.  Today’s price action in the GLD ETF is the type of helpful clue that says GLD should be able to work its way higher to the top of the range again near the 139 level and maybe even break out from there.

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Posted in Commodities, Gold Market
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Spot Gold Price Still Clinging to Support Range

The spot gold price is still holding above the 1314 support range despite the recent days violent volatility that kept traders guessing if we would get a support range break down or confirmation of holding support.

I suspect a lot of sell stops have been triggered at the bottom of the range near 1314 level and now after today’s minor pullback the spot gold price may be in a stance where it can swing back topside to the top boundary of the current channel range.

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Posted in Commodities, Gold Market
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