A bit of reading from one of the technicals guys that gets it....
SGOL 6 Mth Chart
I issued a Super Force buy signal for SGOL yesterday, Jan 20. I still expect a move to $1260 for gold, and further weakness will likely gives us higher intensity signals. The current signal I have classified as a Super Force Surge 50. We can get even stronger buy signals going forwards.
I urged Super Force subscribers to add more shares in the gold sector in the last week. The most successful investors in the history of the business have consistently traded a part of their positions and built a larger and larger core. That is precisely what I do for you with Super Force. Lower your costs and enlarge your positions, in the entire Gold sector.
Most analysts are nervous now. I like the sector better now than I did just a few weeks ago. Use the current correction in Gold to buy assets that will continue to appreciate over the course of your lifetime.
I continue to see Gold working its way lower towards my $1260, yet we are making good progress at eliminating the excess bullishness in these markets. The COT report released last Friday actually makes me wonder if my 1260 target will even get hit. The bottom line is, market losers pulled their gold positions, while the biggest and smartest investors were on the buy. This COT report is bullish for gold in the extreme.
Put me in the Gold Bull column. Not a “back up the truck” Bull any point in time, but the kind of bull that is more than glad to diversify into Gold, over lower price. As price goes lower, I buy bigger, and I’m doing it now.
SGOL 14 Month Chart
Note on the 14 month chart that my middle trend line shows price had been marching up, but has failed to hold. My target remains 1260, and I’m incrementally buying all the way down to that point Whether we ultimately hit it or not, nobody knows, but I think we will.
Gold Juniors GDXJ Chart
Gold Juniors Analysis:
I issued a Super Force Buy signal yesterday on Jan 20th at $34.30 for GDXJ. This signal is a Surge Index 75 Buy Signal. This is a fairly intense buy signal.
GDXJ continues to make excellent correction progress. Note the MACD in the bottom of my chart. Now is the time for you to be a very aggressive juniors gold stock buyer.
Volume may be petering out on the downside. It is a little early to issue a full volume-based buy signal, but volume on declining days this week has been petering out. This action is something I am watching very closely on almost an hourly basis.
GDXJ is an asset headed dramatically higher in the next few years. Weakness in here is a gift to you. My buy target of GDXJ $34 was tagged on Jan 20, yesterday. Price could possibly go down to $32. This is another phenomenal long term buy at $34, and more so at any price under $34.
GDX 6 Month Chart
The GDX ETF also has a Super Force surge 75 buy signal on it as of yesterday Jan 20. As of now, I have more money in Senior Gold Stocks than any other holding other than Gold. GDX is a phenomenal long term buy right here.
We are seeing panic selling in GDX, beginning last Friday. I have been a heavy buyer in the current correction, and I bought more Gold Stock on Thursday Jan 20 than any time since the July Bottom. I urge you to do the same. We are in some of, and approaching more, of the absolute best buys of the year.
The Dow is up 16% from August, while the GDX is down 16% through this correction since Dec. While the Dow is overbought (and over-loved), GDX is oversold and under-loved. That’s a 32% price disparity, making gold stocks very good value against the Dow.
GDX Massive Breakout On 3 Year Chart
SIVR (Silver Proxy) 6 Mth Chart
Silver’s performance is impressive. A year ago when precious metals corrected, Silver lead the way lower. Not now! Silver continues to act well, in this correction.
Volume is petering on price declines and MACD is approaching the bottom of the channel. Bullish!
I bought more physical silver Monday. I am extremely bullish on silver!
AI
