Wednesday, July 16, 2014

CHART OF THE DAY


12 comments:

  1. Gary, are you also looking at the US equities to put in a top while Oil, Crb, Gold bottoms and turns for a decent run into Sept?......jj

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  2. As long as the Fed keeps propping up the stock market I'm not going to look for a top. And I think they have no intention of letting a serious correction start while they taper. It's anyone's guess how long it will take the stock market to break free of Fed intervention.

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    1. Interesting Gary, your not looking for money flows out of the US equities into Gold to fuel its rise, the strength will come from an overall commodity rise into Q3-4........jj

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  3. So far GDX is doing an amazing job of holding onto the Aug '13 - Mar '14 downtrend line in price - keeping its recent breakout on the poker table and refusing to be flushed. Really impressive!

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  4. Latest CoT report for oil suggests oil headed down significantly by year end. Are the Commercial traders wrong this time?

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  5. Here is the exact words coming out of Janet Yellen on Monday. The Fed doesn't want to prop up biotech and social media stocks for sure but everything else is ok including gold and commodity.

    "Valuation metrics in some sectors do appear substantially stretched--particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year....

    Equity valuations of smaller firms as well as social media and biotechnology firms appear to be stretched, with ratios of prices to forward earnings remaining high relative to historical norms."

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  6. Gary, the indicators I use show Oil, CRB and GNX have turned upwards.....reload!......jj

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  7. As you know we added oil to the commodity portfolio yesterday and I'm adding DBC this morning.

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  8. Hi Gary, does it now oil has already found the bottom low and now ww have to wait for gold to bottom in few more days probably early next week is my understanding right?

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  9. gary, what is your take on Russian debt-insurance costs surge? http://www.iol.co.za/business/international/russian-debt-insurance-costs-surge-1.1721522#.U8f5pZRdWdA

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  10. I don't know how gold will rally as the dollar rises.

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    1. Just because the dollar rises against the euro doesn't mean it is gaining purchasing power. Gold has rallied along with the dollar in the past.

      http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=7&mn=6&dy=0&id=p80792134742&a=359932045&listNum=1

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