Gold was getting whacked on this particular morning after head-faking early in the session. We placed our bets on a projected bottom at 1729.00, and, lo, the futures rallied nicely from 1729.10. Although we had to drill down to the tick chart to find a ‘camo’ opportunity to get long at the bullish turning point […] Read More
Friday's shakedown was sufficiently vicious to imply that Silver Wheaton's handlers were keen on buying the stock. If the trampoline bounce they engineered from the low goes just a tad farther this morning, surpassing a minor external peak at 35.67 (see inset), bulls will be on their way to rejuvenating a larger, bullish pattern with […] Read More
The euro's daily chart looks more bullish than the dollar's at the moment, implying that Greece's latest resuscitation will pass muster where it matters most -- i.e., in the make-believe world of global finance. Even so, the futures can't afford to stall for more than a few days lest they lose the considerable momentum that […] Read More
April gold was through the midpoint resistance shown, strongly favoring more upside over the very near term to its 'D' sibling at 1737.10, at least. Notice that a precise hit would fall two ticks shy of exceeding the peak recorded on Thursday just before the futures began to fall. That peak will need to be […] Read More
The 1353.00 target precisely contained the most recent short squeeze, but if it gives way today or tomorrow, that would suggest that there is plenty of buying power remaining to be spent. The next logical stop would be a Hidden Pivot at 1362.50 noted here earlier, and although it will offer a promising spot to […] Read More
The euro's chart looks more bullish than the U.S. dollar's at the moment, suggesting that the latest deal to keep Greece afloat has passed muster with the global banking establishment. Index futures are up as well, but only by enough -- six points -- to imply DaBoyz are more interested in distributing stocks than buying […] Read More
This impromptu session from Thursday morning runs a little more than an hour, touching on B of A, the E-mini S&Ps and Comex gold. But of greatest interest, perhaps, in the final 15 minutes, is a detailed (and bullish) look at the HUI Gold Bugs Index. My suggestion is to fast-forward to this segment (unless […] Read More
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