gold stocks (2)


Gold Losing Its Luster

1291170?profile=RESIZE_320x320I'm back from Illinois after "life intervened" and I rushed out the door and gold has done exactly what I felt it would do.  In this previous post I felt that the 100 week SMA would pose a resistance and if you think about it, it makes complete sense.

  • From a season standpoint, gold doesn't have much demand until last Summer when Indian festival and wedding season kicks in followed by jewelry gift giving as the Winter holidays approach.  (see seasonal chart)
  • Inflation is very low = no need to hedge with gold
  • The stock market is challenging new highs.  When equities are doing well, not to mention the killer strong U.S. dollar, again there's no need to hedge risk with gold.

For all you gold bugs out there, dude, be a patient investor and wait for smart entries.

My guess is that gold will take out the low which has been tested three times and we'll see lower pricing.  For those who want to place bets on gold falling, I would recommend $GLL or $DGZ however beware; they are thinl

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All That Shines, Gold And Silver

Sometimes it pays to simply remove the distraction of moving averages and let the chart movement speak for itself.  What say you StockBuz?  Are those head-and-shoulders bottoms or no?  Long gold and silver (and miners) with a stop below last weeks low (to your tolerance).  Partial on a breakout, move up stops to b/e, final target equal to distance of head to breakout zone.  Call it flight to safe havens, call it massive short covering/profit taking, .  Who cares.  The risk/reward is irresistible.


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