Loading ...ON THE THRESHOLD OF A DREAM
THIS IS A TRICKY SPOT
MOST OF US HAD TURNED BEARISH AND WE ARE THE GOLDBUG’S GOLDBUGS
PERHAPS THATS WHAT IT TAKES
LOOK AT THIS CHART
THE XAU IS THE LONGEST STANDING GOLD INDEX STILL WIDELY IN USE
THE P/O IS MIND NUMBING
$XAU looks so much better than the HUI/GDX, I’m assuming because it has more silver exposure (as opposed to better gold miners). You are absolutely correct, the XAU looks like it could break out imminently.
Depends on market liquidity.
Jeffrey Snider – Do Not Rule Out a Market Panic Next Month, “there’s an impending US Treasury Bill air pocket in March”:
https://www.youtube.com/watch?v=ECYJefWDNoM
In May 2020 US regulators gave SLR relief that expires on March 31 2021. A cliff(hanger)?
24:56 mins https://www.youtube.com/watch?v=ECYJefWDNoM&t=1496s ?
Steven Van Metre – GDX Weakness Signaling Market Crash
https://www.youtube.com/watch?v=UP5pPyvmMH8
He discusses why his macro thesis can be wrong in the short to intermediate-term but believes it will play out as interest rates collapse to zero. Those that are bullish on gold miners should also be bullish on bonds. He expects the GDX to fall and explains the relationship between it and the TLT. He believes bonds will rally, GDX will drop much lower, and then he can flip his portfolio into the junior miners. Falling mining equities often are a leading indicator of a coming liquidity event and a move lower by the broader equities. [SvM targets are, should GDX fall through 31-33 area, then quickly down to 16. He’ll be backing up the truck at GDX circa 12 !!].
FWIW:
1. I’m strapping myself to the mast again and, if it gets really bad, I’ll seek shelter behind the sofa.
2. I will hold my core positions, cos you can’t trade a tsunami, and there’s no doubt that all of our rocks will reach ATHs in the aftermath.
3. I do hope Plunnger has retained his core rocks…
4. If you pitchfork gold and/ or silver from the 1971-1974 lows (ie. the beginnings of the current monetary system: gold silver throttled via LBMA Comex and derivatives, Bretton Woods, fiat currencies and markets, London Eurodollar becoming dominant), the median line targets are astonishing… let alone the top line.
Peace, success, out.:))P