Super Force Signals - A Leading
Market Timing Service
We Take Every Trade Ourselves
Gold Market RSI - The
Weekly Market Update Excerpt
posted Oct 18, 2010
Gold and Precious Metals
KEY CHART #1:
GOLD via SGOL-NYSE
Buy and Sell recommendations should be
added at the recommended price.
The Surge Index System Buys Weakness and Sells Strength
Super Force Gold Bullion Analysis:
- Gold has a Surge Index 100 Sell Signal
as of Oct. 1st.
- This is the maximum Surge Sell Signal.
- I am a Long Term Bull as it relates
to GOLD. I bought more physical bullion when many were predicting
much lower prices and better entry levels back in July. I bought
and I'm not selling my physical gold. Longer term, I'm convinced
Gold and Silver will be much higher.
- The main analysis in this Update is
a look at the weekly Gold chart. I have included chart #2.
- What I would like to focus on is RSI
analysis. High RSI is like overhead weight on price, especially
on the weekly chart. Notice the area in which RSI is at now.
In the past, in this Bull Market, this reading has brought price
- Note, the corrections are varied in
size. I've included what I see as Initial and Secondary Support.
- It always pays to be prepared for such
weakness; you never know when a normal correction expands into
something much greater. Again the key to successful investing
is buying weakness and selling strength.
- I personally am prepared for all action
in this sector. I want to own more Gold and Gold Stocks. Use
my Surge Index System to time your buys.
KEY CHART #2:
GOLD - Weekly
KEY CHART #3:
GOLD JUNIORS via GDXJ-NYSE
Super Force Gold JUNIORS Analysis:
- There is currently a Surge Index 100
Sell Signal on GDXJ as of Sept 8th.
- My strategy has been to sell strength
and to buy weakness; I set my orders to re buy 3% from the sell
price on GDXJ. The Superforce 60 trading service has booked 8
round trip trade wins since the lows of July. Gains range from
3-5%. With zero losses.
- Price has had a fabulous move from the
July lows. That is when my largest buys were entered. I made
a note on this chart at the time, stating where additional capital
was allocated. GDXJ is up some 46% from those lows to the highs
- That said, there are warnings on this
chart. Note that distribution days are adding up. This is a warning
that those who have owned the shares longer term are releasing
their shares to those chasing price.
- I would say Friday's decline shows the
highs will likely be tested sooner rather than later. Topping
in a sector is generally a process and not an event.
- When a sector is up 46% in several weeks,
price chasing is suicide. I re buy the sector only after already
booking profits. My longer term strategy is to add to my position
during the next correction. Yes, there will be a correction!
- As mentioned above, there is a Surge
100 Sell on GDXJ. Although there is a sell, I hold a core position
of approximately 50%. When weakness occurs, I will enlarge my
core position and trading position.
KEY CHART #4:
GOLD STOCKS via GDX-NYSE
Super Force Gold Stocks Analysis:
- A Surge Index 75 Sell Signal was issued
- My strategy for Gold and GDX for many
weeks has been to take profits and re buy 2% under the sell price.
- This strategy has been an effective
way to protect profits and continue to maintain nice trading
and core positions.
- Gold followed by Gold Stocks are by
far my largest holdings.
- Many of the same warnings mentioned
above apply here as well.
- I want to mention the blue vertical
lines. In many charts I use what I call the "Price Volume
Wedge". This is a perfect example of the final outcome.
This timeframe in GDX warned of a coming correction. As can be
seen here, the correction played out just as the "Price
Volume Wedge" warned.
- As mentioned above, this has been a
powerful rally. New money should ideally wait for a fresh Surge
Index Buy Signal. Now is not the time to blindly buy.
- Follow a proven strategy. Use the re
buy program for profits already taken and wait for the Surge
System when putting new money to work. It may be tempting, but
do not chase price, period.
KEY CHART #5:
SILVER via SIVR-NYSE
- There is a Surge Index100 Sell Signal
as of Sept 7th for SILVER. This is the Max Sell Signal on Silver.
- Volume is telling this week. Thursday
was very strong in price and volume. One thing I begin to watch
as rallies mature is excessive volume. This may qualify as the
rally is extended and volume does appear excessively heavy.
- Again, this is an asset that I hold
a large core position in and one likely going much higher in
the long term.
- In the shorter term Silver is seriously
- The one thing worth mentioning here
is the US Dollar. Later in this Update I will give an in-depth
look at the Dollar. There is more and more evidence that the
dollar is turning, at least in the short term. This can cause
a correction in the precious metal sector. Silver is up 38% from
its recent bottom in late August.
- Use a proven winning strategy in this
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Executive Editor, Macro Risk Manager.
Morris Hubbartt: Chief Market Analyst, Trading Risk Specialist.
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Oct 17, 2010