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Outlook for Gold, the Mining Sector & Global Equity Markets (video)

This video begins with analysis of gold & the precious metal sector via GLD & GDX followed by a the outlook & some technical developments in the US equity markets.

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Oct 5, 2016 7:17pm|Categories: Equity Market Analysis, Gold & Commodities|Tags: , , , , , , |5 Comments

5 Comments

  1. Mrg5a October 6, 2016 7:08 am at 7:08 am

    Hey Randy….

    Any thoughts on China Tech (CQQQ)? Or similar story to US markets? Powerful divergences building or too much momentum?

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    • rsotc October 6, 2016 9:09 am at 9:09 am

      CQQQ (China Tech ETF) looks poised for a move down to at least the 39 & possibly the 38 area or below pending a break below this bearish rising wedge pattern.

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  2. dmel October 6, 2016 7:14 am at 7:14 am

    Randy,nice update, do you find better to follow charts of GLD instead of $GOLD or doesn’t it matter. not sure if i seen u look at both, tks

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    • rsotc October 6, 2016 9:19 am at 9:19 am

      I think that GLD is so big that I could be the case of the tail (GLD) wagging the dog (gold), at least at times. Case in point, a couple of years back I recall reading about the massive short bet that that John Paulson had on gold. He wasn’t using gold futures or physical, rather he simply shorted GLD. John Paulson is know for personally making (his own profits, which were a mere fraction of the profits his hedge fund made) $4 billion betting against sub-prime mortgages in 2007 & earning (again, personally) nearly $5 billion in 2010.

      With hedge funds, mutual funds, pension plans, etc… often using GLD as their preferred trading proxy, I think it is safe to say that one can effectively use the charts of GLD for analysis on the direction of gold. Yes, there will be more gaps than gold futures as the GLD candles only represent trading during US market hours but then again, with GLD being such a widely held proxy for trading gold, those very gaps certainly have technical significance while the charts of gold future won’t have the same gaps being they trade virtually around the clock. Therefore, I actually think GLD may be the better option to use when charting, at least for those that trade gold in the western hemisphere (i.e.- are trading while the US markets are open). JMHO

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  3. rsotc October 6, 2016 9:33 am at 9:33 am

    FYI- Someone had commented to me about the way videos have recently appeared on the site & within the trading room. My reply to them:

    I’ve noticed that too. I was inserting the videos as an embed code before, which defines the width & height but recently noticed that on mobile devices, the video was “unwatchable” as it the right side was cut off so you couldn’t access the Full Screen or Watch On YouTube options.

    I recently started just pasting the url to the video which is supposed to auto-fill the screen but I see what you are talking about. I’ve been looking into a fix & hope to have that figured out soon. One the site or on a mobile, even if the right part of the video screenshot is cut off, once you click on the video image or start playing it, the option to play on YouTube (my preference) or click on the Full Screen option (the [ ] icon) should show up.

    Thanks for mentioning it as I had backed off looking into a solution but will get back on it.

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