Not Looking Good for Gold (So You Should Buy)

June 10, 2017

The gold chart is not encouraging (so I’m probably interpreting it incorrectly, so you should probably be buying……..).  As my proxy for gold I use NUGT – Direxion Daily Gold Miners Bull 3x Shares NYSE + BATS because it’s 3x leveraged to a basket of gold miners, so the swings are more pronounced. Here’s the six month […]

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Gold and Crypto-currencies

June 3, 2017

The weather is gorgeous this weekend, so I’ll keep this short and sweet: Gold As me in a week or two and I’ll tell you what’s happening. For now, I don’t know.  The chart of NUGT shows that we are nearing an inflection point. The longer term uptrend line is about to intersect with the […]

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A 10 Year Look at Gold

May 27, 2017

It’s a good idea to occasionally take a step back and look at the big picture. Here’s the big picture for gold: What does it tell us?  Either a lot, or not much, depending on your perspective. The blue lines show the uptrends from 2008, and 2009, remain intact.  The red lines show that since […]

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Perfect Timing on Gold

May 20, 2017

Perhaps the timing was not exactly perfect, but it was close.  The chart shows red circles where I was buying, and the blue boxes were the sell orders. I was buying on April 27 just under $31, which I thought was the bottom, but it wasn’t, so I averaged down again on May 5 at […]

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Bull Market Just Beginning, and Great Week for Gold

May 13, 2017

So there was a story last week that said that a life changing rally is shaping up in the stock market.  Hard to believe, right?  The markets are at or near all time highs, so how is it possible that the bull market is just getting started? The theory is that, if you look at […]

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NUGT: Reverse Split Apparently NOT a Buy Point for Gold

May 6, 2017

Last week I proudly proclaimed that the NUGT Reverse Stock Split was a Buy Point for Gold.  Apparently not. As we can see over the last six months, NUGT – Direxion Daily Gold Miners Bull 3x Shares NYSE + BATS bottomed around $22.50 (split adjusted) just before Christmas, and then peaked just under $55 (split adjusted) in […]

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NUGT Reverse Stock Split and Buy Point for Gold

April 29, 2017

I’m back in gold. As regular readers of this little blog know, I have a significant percentage of my portfolio invested in gold stocks.  In addition to gold miners, my preferred speculative gold play is NUGT – Direxion Daily Gold Miners Bull 3x Shares NYSE + BATS,  which was over $13.50 in mid February, before correcting […]

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Report from Kentucky

April 22, 2017

I have spent the last few days in Kentucky, so having not followed the markets this week, I will give you a very brief report on Kentucky itself.  Here’s the short version: from an uninformed tourist’s perspective, (so this assessments is most certainly incorrect), Kentucky is in fine shape. We drove down from Ontario (because […]

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Lightening Up on Gold

April 15, 2017

I spent the last week taking profits on my gold holdings.  I’m lightening up. This is not to say that I think the gold run is over.  I don’t.  I think it’s just beginning. But, my favorite gold trading vehicle, NUGT – Direxion Daily Gold Miners Bull 3x Shares NYSE + BATS, which was trading […]

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Inflection Point 2017

April 8, 2017

So, where are we at?  Are we at an inflection point, a turning point, or will it be more of the same? The general market, as measured by the S&P 500, peaked at the beginning of March, and has faded since.  However, if you measure performance since the start of the year, it’s still up, […]

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