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Morris Hubbartt
Weekly Market Update Excerpt
posted Apr 01, 2011

Gold and Precious Metals

SGOL (Bullion Proxy) 6 Mth Chart

SGOL 6 Month Chart Analysis

• Now is not the time to play games with gold or gold stocks. Those with no core holdings could be wiped out. Metals are the only insurance for the coming economic nightmare, and they are going much higher.

• Look closely at trading signals on my charts today. Use my buy signals to increase your core positions and lower cost, always enlarging your overall position. Strive for real economic security with your gold. If your financial advisor is telling you to sell all your core gold holdings, I hope you are not listening! What is coming down the pipeline, economically, is disaster.

• This huge precious metal bull market is now greeted with heavy scepticism. Even the gold community seems to be a bit unsure. There are too many doubters, and that spells higher prices!

• The debt crisis is the main fuel cell for the rising price of gold. Debt levels are still rising, to the point that the system may be nearing or even past the point of no return.

• “Hyperinflation is assured.” - Jim Sinclair, March 31, 2011.

• As long as debt is rising, gold and silver are going to go higher. It is important to have a large core position (I recommend 65%) in the metals sector.

SGOL 14 Mth Chart

• Black Swan events keep coming. The Middle East, Japan, and food-related events may be in the pipeline. We are at the very cusp of an enormous blast higher in the metals, and it will catch most of the investment world totally off guard.

• When considering all of the assets one can hold, such as commodities or stocks or cash or gold, which one is the best? Of all assets, physical gold stands tallest. The physical market for gold is in the strongest hands, and they will accumulate all weakness in the market because they sense an economic nightmare is near at hand.

Gold Juniors GDXJ Chart

GDXJ Chart Analysis:

• I just issued a fresh buy signal on March 28th for GDXJ.  I look for weak volume pullbacks to enter fresh buys, which is what happened Monday.

• With physical gold in the strongest hands, my SFS Gold Stocks Ratio continues to project a huge target of $75.00 for GDXJ! If the target is acquired, many individual juniors would rise by hundreds of percent!

GDX 6 Mth Chart

GDX Chart Analysis:

• I just issued a fresh buy signal on GDX Mar. 28th.  Look at the long tail on the identified candle from Wednesday’s trade. This candle is suggesting more upside for this move. When you get this type of candle configuration, particularly in gold stocks, it can spell higher prices for quite a few more trading sessions. It is a sector-wide phenomenon and very powerful.

• As bullish as I am, this market could roll over after the current move higher is completed, opening the rocket door for final boarding. In a correction, the GDX $55.00 range is the best opportunity for heavy buys, if we get there. VBS (volume-based support) is sitting in that area for GDX.

• My volume analysis of the current trading sessions indicates only one more buying opportunity, before take-off!

• One year target: My SFS Gold Stock Ratio projects a $72 one year price target for GDX. Imagine what that means for some of your intermediate and senior gold stocks!

SIVR (Silver Proxy) 6 Mth Chart

SIVR Chart Analysis

• I want to urge some caution in the silver market. I am buying small corrections personally, and I think price is going much higher along with gold, but silver is a more volatile market, and more susceptible to being hit if the over-priced general stock market enters a major correction.

• Incredibly, the very near term scenario for silver calls for even more upside action, followed by a gut-wrenching correction. I worry that investors with little or no silver may not understand how quickly a big downside sell-off can turn the current excitement into tremendous fear.

• I just issued a profit-taking alert for SIVR at $37.32. Owning the physical product is an absolute necessity. As I send you fresh buy signals in silver, put more money there, in physical silver. Compared to gold, silver is still dramatically underpriced, even after this huge move up in price!

UUP (US Dollar Proxy) Chart

• The US dollar is down 37% from highs of 2001. It’s down over 95% since the current central bank started in 1913. When nations can’t pay their debts they debase their currencies. These debts can never be honestly repaid because they are simply too much of a burden for the average citizen. The dollar is in major trouble and the dollar buy signals my system generates are the only buy signals I have stopped taking.

• The great tell-tale sign for the dollar is the lack of a “safe haven bid”. With all of the current problems in the world I would expect money to flow to the dollar, as it has in the past. That’s not happening, and it is a tell-tale sign of the beginning of the end, for the dollar.

• The public is now more heavily invested in bonds than they were in the stock market at its all-time highs. The US treasury has over $8 trillion in bonds issued. Supply is poised to totally overwhelm demand.

• The decline coming in the bond market could be enormous. Possibly a bigger problem than the involvement of individual investors (weak hands) in the bond market is the enormous participation by pension funds, both public and private. A major bear market in both the dollar and bonds would destroy the pensions of millions of retirees. A global panic could occur, sending gold parabolic!

• At best, the bond and the dollar are a crowded space. Stay away! Gold is owned by just 3% of the American Public. Gold is seriously under-owned.

• All my volume and price analysis tells me there is only one more modest rally coming for the dollar and the bonds, before they begin what could be a terminal collapse. I see just one modest buying opportunity coming for gold, and then price begins a quasi-parabolic rise!

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Apr 01, 2011
Morris Hubbartt

321gold Ltd