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GDX Technicals: Your Ticket to Ride

Morris Hubbartt
Weekly Market Update Excerpt
posted Nov 12, 2010

Gold and Precious Metals

Gold 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 price: $1317
    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 your buys.
     
  • 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 profits!

Gold One Year Chart

Gold Juniors GDXJ Chart

Buy and Sell recommendations should be added at the recommended price.

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 is resilient.
     
  • 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 greater damage.

GDX 9 Month Chart

GDX Massive Breakout on 3 Year Chart

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.

Silver Chart

  • 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, not less!

Friday, Dec 6th 2019 Super Force Signals Unique Introduction For 321Gold Readers:
Send an email to trading@superforcesignals.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!

The SuperForce Proprietary SURGE index SIGNALS:

25 Surge 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" Power.

Stay alert for our surge signals, sent by email to subscribers, for both the daily charts on Super Force Signals at
www.superforcesignals.com and for the 60 minute charts at www.superforce60.com

About Super Force Signals:
Our Surge Index Signals are created thru our proprietary blend of the highest quality technical analysis and many years of successful business building. We are two business owners with excellent synergy. We understand risk and reward. Our subscribers are generally successfully business owners, people like yourself with speculative funds, looking for serious management of your risk and reward in the market.

Frank Johnson: Executive Editor, Macro Risk Manager.
Morris Hubbartt: Chief Market Analyst, Trading Risk Specialist.

website:
www.superforcesignals.com
email: trading@superforcesignals.com
email: trading@superforce60.com

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1170 Bay Street, Suite #143
Toronto, Ontario, M5S 2B4
Canada

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Nov 12, 2010
Morris Hubbartt

321gold Ltd