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GDX Technicals: Your
Ticket to Ride
Weekly Market Update Excerpt
posted Nov 12, 2010
Gold and Precious Metals
6 Month Chart
Super Force Gold Bullion Analysis:
- Gold has a Super Force Sell Signal as
of Tuesday November 9. This is simply a profit taking alert.
- Sell price 141.73 on SGOL.
Buy Price: 131.70 on SGOL.
- The "bullion equivalent" buy
The "bullion equivalent" sell price: $1417
- A key point on SGOL's chart is the long
tail candles. These have been quite positive in this market historically.
The action points to higher prices in the short term.
- The Gold market spiked into my trend
line target this week just below the 1425 area. Note the longer
term one year chart below. Target area touched!
- Although we touched the target area,
I certainly do not think the move in Gold is over. The Gold Market
did, however, turn apparently decidedly, but I believe that most
technicians are misinterpreting what is actually occurring here.
- A close look at the volume since the
day Gold topped, tells me we may revisit the highs, most likely
early in next week!
- I urge you to take advantage of all
corrective action in the Precious Metal sector in the coming
days on the buyside.
- I have highlighted price targets for
- The sensible way to buy in this sector
is to use the identified buy target buys I have highlighted for
you, and place your buy orders into that area. I was on the buy
as soon as the precious metals sectors turned south, and have
already booked profits on what I bought into those lows. You
can do the same on this move down underway now for even bigger
One Year Chart
Gold Juniors GDXJ Chart
Buy and Sell recommendations should be added at the recommended
Super Force Gold Juniors Analysis:
- At $42.18, I issued a Super Force Sell
Signal Alert on GDXJ on Tuesday November 9th.
- Readers booked enormous profits, since
my GDXJ buy signal was issued Wednesday Oct. 27 at $34.02.
- The bottom line is my latest signals
booked gains of 24%, and did it for you in just two weeks! Now
gold is being hit hard this morning and those of you who followed
me are flush with cash, and profits, and prepared to buy again!
- The Juniors have been the leaders in
the precious metal sector for quite a while. Few understand this
fact. Note in the above chart how my warning indicated a solid
buy opportunity was coming for you.
- What do I see now for you in the Juniors?
OK, after the action this week I see a move likely back into
the area of the highs followed by a filling of the gap identified
in the $37 area. See the highlighting in green of that gap.
- I need to point out a couple of key
factors on the chart to you: 1) Note the volume on the day of
decline. HUGE! 2) Since then volume has been light, yet price
- It is twofold, price looks headed back
to the highs short term, yet based on overall volume, corrective
action is ahead at some point.
- The main thing to remember is the Big
Picture. Price will not be just higher, but dramatically higher.
Don't just add to trading positions, add to core positions. I
believe it was a rap star who sange, "you've only got one
shot, do not blow this opportunity." If we get a sell-off,
especially in the juniors, you need to take those sale prices
very seriously with your buy orders.
- The gold market looks less certain than
last week, and you must be prepared for all outcome at all times.
I cannot overemphasize to you that any further weakness in price
should be used to add to positions, not to get concerned about
9 Month Chart
GDX Massive Breakout on 3 Year
Super Force Gold Stocks Analysis:
- My Super Force Sell Signal
was issued Nov 9th at GDX $62.73.
- That profit booking came for my
Buy Signal, which I issued on Oct 19th for GDX at $54.26.
- This latest booked gain of 15.6% in
just a couple of weeks is equivalent to many many years of interest
in a bank account at current rates.
- Price has rocked and my Surge Index
System grabbed the profits and locked them in for you.
- Stare hard at my "Major Breakout"
GDX chart above. You can make the argument that if you missed
the Bull Market in Gold, GDX is your ride, and today your
ticket to ride is on sale.
- All the gold stocks doubters are wrong.
The breakout is underway.
- Go back to the daily chart and look
at the buy targets. Don't be greedy and try to buy too much.
- Work your capital in as price goes down
and get ready for a long run ahead for your Gold Stocks.
- Please make careful note of the following:
My surge index did not get the type of buy signals on Silver
that the other Precious Metal sectors received at the lows of
the recent correction.
- At this point, I believe it somewhat
dangerous to put large new monies in Silver. Instead, be patient.
Wait for a better entry point for new positions, while maintaining
existing core positions.
- I personally hold a very large core
position in Silver.
- Technically, in the shorter term, silver
is still seriously overbought. To make serious money in the ultra-volatile
metal, silver, my Super Force Surge Signals are carrying readers
forwards on a wave of profits! It's going to get more volatile,
|Friday, Dec 6th 2019 Super Force Signals Unique Introduction For 321Gold Readers:
Send an email to email@example.com and I’ll send you my free “Candlesticks Of Thunder!” gold stocks video report. I’ll also include 3 of my next Super Force Surge Signals free of charge, as I send them to paid subscribers. Thank you!
Proprietary SURGE index SIGNALS:
Index Buy or 25 Surge Index Sell: Solid Power.
50 Surge Index Buy or 50 Surge Index Sell: Stronger Power.
75 Surge Index Buy or 75 Surge Index Sell: Maximum Power.
100 Surge Index Buy or 100 Surge Index Sell: "Over The Top"
Stay alert for our surge signals, sent by email to subscribers,
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Our Surge Index Signals are created thru our proprietary blend
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We understand risk and reward. Our subscribers are generally successfully
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Executive Editor, Macro Risk Manager.
Morris Hubbartt: Chief Market Analyst, Trading Risk Specialist.
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Nov 12, 2010