gold price chartI 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 or horizontal resistance level.

Once again, I am viewing gold, silver and the related mining stocks as potential long-term trade/investment candidates at this time.  With gold still firmly entrenched in a bear market, it could very well continue lower for some time, possibly overshooting the long-term uptrend line by a fair margin (or more).  As such, my preferred method to gain exposure to the sector will be to use a shotgun approach, scaling in gradually into multiple names in the mining sector initially using relatively wide stops as my position sizes will be small (i.e.- smaller total dollar loss exposure) and my profit targets relative large (i.e.- stops inline with a 3:1 or better R/R to my preferred targets).


stock chart analysisAlong with several new mining stock setups, I have also added some additional charts to the Live Chart Links page such as the IBEX 35 Index (Spain), MUB (S&P National AMT-Free Municipal Bond Index ETF), JNK (Barclays High Yield Bond Index ETF) as well as a link to the US Treasury Yield Curve.  New charts will continue to be added to the Live Chart Links page going forward so be sure to check back from time to time.  Market commentary, new trade ideas and updates will start to continue as usual today and the new feature allowing email subscribers to select which categories to receive email alerts should be ready later today as well.

Finally, I just wanted to wish everyone a very happy & prosperous New Year!  May 2014 be your most prosperous trading year ever!

-Randy Phinney