A review of the chart of GLD, SLV, SIL & GDX as they all approach key support levels with bullish developments on the chart that indicate a bottom may be close at hand. My preferred strategy of scaling into exposure in the gold & silver mining sector, along with the buy ranges, stop levels & some potential price targets are covered. Please log in to view this video as it is currently reversed for RSOTC subscribers. [...]
This video starts with a brief overview of the charts of gold & silver (via GLD & SLV) followed by a discussion focused primarily on the near-term outlook for the gold & silver mining sector via the charts of GDX & a few of the leading gold & silver mining companies in the following order; ABX, NEM, GG, AEM & SLW, wrapping up with some final comments & technical levels to watch for on GDX.
Gold, silver & the mining stocks are at or near key resistance levels. Should both the metals & the miners make a solid & sustained break above resistance, that would bode very well for the longer-term outlook for the precious metals & mining sector. However, with the miners & metals at or near major resistance, the chances of a near-term pullback are elevated at this time. This video start with a quick overview of GLD (gold ETF), SLV (silver ETF) and GDX (gold miners ETF), followed by a look at the charts of the top components of GDX including several trading [...]
This video covers GDX (gold miners etf) and some of the largest components of GDX that look to be at or near key long-term support levels with potentially bullish technical developments. As such, although gold & the mining stocks are still in a confirmed downtrend, the stocks covered in the video look to offer objective entries for longer-term traders & investors. With the mining sector yet to show any technical evidence of a bottom, these stocks are not yet official trade ideas at this time. Static charts on some or all of these trade ideas will follow soon and should we [...]
The following video covers spot gold prices as well as the gold mining sector including some of my top picks as potential long-term trade/investment ideas. As this video is quite lengthy, a brief summary of the items covered can be found in this order: About the first 6 minutes discusses the big picture on spot gold prices ($GOLD) with some comments on the mining sector as well. Starting at the 6:25 mark, I begin covering the daily & weekly charts of some of the most promising long-term trade candidates in the gold & silver mining sector in the following order: AU, [...]
AEM (Agnico Eagle Mines Ltd.) was one of about a dozen individual gold & silver mining stocks that were added to the Live Charts page as trade ideas in late December. On Friday, AEM hit the final target, T2, for about a 40% gain from the original entry price and as such, will be removed from the Active Trades-Long and Long-term Trades-Active categories. As with all closed trades, all associated posts for this most recent trade on AEM will be moved to the Completed Trades category (and respective sub-categories) where they will be archived for future reference. [...]
Although I wasn't planning on trading much this week, I have booked full or partial profits on numerous positions, including both the aforementioned Growth & Income Trade Ideas as well as GDX and numerous individual gold & silver mining stocks. All in all, I have probably booked profits on at least 2/3rds-3/4th of my total exposure to the mining sector today & would prefer to wait for a pullback before adding back exposure to the sector. I plan to post the updated static charts and some additional commentary on these trades over the 3-day weekend but until then, here are some [...]