This video starts with brief analysis on GLD & GDX followed by the outlook for my favorite trade ideas in the gold & silver mining sector. playback speed can be increased in the settings to reduce video duration
The following securities are covered in this order: $GOLD (spot gold prices), GLD, KGC, AU, GFI, AKG, HMY, NEM & TRX.
TRX (Tanzanian Royalty Exploration Corp.) was one of numerous mining stocks that were posted as hitting a profit target in the Feb 14th post titled Reducing Exposure to the Gold Mining Sector. As with those other trades, I did not have the time to post updated static charts for a visual reference on the trade until recently. TRX hit the final near-term target (T2) for a 40.5% gain just one month after breaking out above the descending channel. As discussed in the Jan 16th update on TRX, the longer-term outlook for TRX remains bullish and I continue to believe that the [...]
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 [...]
TRX (Tanzanian Royalty Exploration Corp) has hit the first profit target (T1 at 2.03) with the charts remaining constructive at this time, especially for a longer-term trade. As TRX, along with most other individual gold & silver mining stocks were suggested as scale-in trades, stops should be determined based on one's own unique cost basis, risk tolerance, trading style and of course, preferred profit target(s). As with most other mining stock trades at this time, additional targets may be added to this trade, depending on how the charts develop over the next few weeks to months. Click here for the live [...]
I started easing back out of vacation mode yesterday and spent some time combing through the charts, particularly gold & many individual mining stocks. With $GOLD now within a hair of my preferred target (primary uptrend line) just in time for the new year, this looks like an objective time to begin scaling into to gold and select mining stocks as long-term trades with stops commensurate with one's preferred target level(s). I've added several additional gold & silver miners to the Live Chart Links page, many of which list clear buy levels such as a break over a well-defined downtrend line [...]
As both GLD & SLV are rapidly approaching those first key resistance levels that I shared yesterday, I had started to put together a video screen recording to discuss both gold & silver as well as the list of my ten favorite gold & silver mining stock trades that were posted on June 26th (and covered in this follow up video a few days later). However, I scrapped the video nearly 30 minutes into since it was just to long and redundant. Basically, the theme that I was covering is that most of those 10 top mining picks, not coincidentally, are [...]