A Deep Dive on Gold

August 3, 2019

For some perspective, let’s start with a look at a twelve year chart of gold: Looks pretty good.  On August 1, 2007 gold traded at $645.  By September 1, 2011 it hit over $1,920.  That’s a nice triple in four years, but from there the correction began, culminating in a drop to $1,046 at the […]

Read the full article →

Great Week for Tesla (if you were short)

July 27, 2019

As regular readers of these ramblings know, I am not a fan of Tesla.  I believe that electric cars are the future.  I don’t think we are quite there yet.  Battery technology needs to improve, and we need to find a better way to generate the electricity that will power these cars.  (Burning natural gas […]

Read the full article →

NUGT – The best way to gamble on gold

July 20, 2019

Let’s talk about NUGT – Direxion Daily Gold Miners Index Bull 3x Shares, an ETF leveraged three times to the underlying gold shares.  If gold is going up, and I believe it is, you have a few choices: Buy physical gold – good idea, but you have to store it, which is not particularly convenient, […]

Read the full article →

Gold and Bitcoin – Both Looking Good

July 13, 2019

Now that gold appears firmly ensconced above $1,400, let’s review the charts: Here’s the conventional chart, gold, in US dollars, over the last three months.  An approximate double top was formed around $1,440, with a subsequent pull back to under $1,390, so gold must either break below $1,400 or back to $1,440; one of the […]

Read the full article →

Gold hits $1,400

July 6, 2019

For the first time in 6 years, gold topped $1,400 this week. That would appear to indicate that higher prices are in store for gold.  However, it would also appear that after the dramatic rise of the last month, a short pullback is in order. I of course like to play it via NUGT, which […]

Read the full article →

Bitcoin: It’s Finally Time To Discuss it

June 29, 2019

Last week I opined on whether or not the gold market is moving back into a bull market.  (Yes).  After six years, it’s back. Today, same question, but about Bitcoin: is the bull market back?  Yes. From a peak at around $20,000 (measured in USD fiat currency) in December, 2017, bitcoin dropped to around $3,000 […]

Read the full article →

Is a Gold Bull Market Finally Starting?

June 22, 2019

I have no idea.  Here’s a long term chart: We all know the story: gold went from under $400 in 2005 to $1,900 in 2011, and that was it.  Gold then took two years to drop into a trading range between $1,050 and $1,375, and that’s where it stayed, for 5 years, until this week. […]

Read the full article →

Gold: Finally

June 15, 2019

Let’s start with a long term perspective on gold; here’s the chart: From lows around $600 in 2007 and 2008, gold had a great run, topping out over $1,900 in 2011, before collapsing to under $1,050 at the end of 2015. Of note, gold never fell below $1,000. The epic crash never happened. $1,000 is […]

Read the full article →

Good Shorting Opportunity for Tesla

June 8, 2019

The Tesla bulls are saying “what a great week!”  From a low of $177 on Monday to a high over $210 on Thursday and Friday, Tesla is back, baby! Yeah, no. Despite a bump this week, the chart remains dismal. This dog is almost dead.  Yes, the pump and dump guys did the “pump” this […]

Read the full article →

Gold is Golden?

June 1, 2019

I’m happy to finally get to talk about gold again, after spending weeks talking about Tesla (which is still a garbage stock, hitting $184.10 on Friday, the same price it traded at in September, 2013, so you are not a growth stock if the stock price hasn’t moved in almost six years, but enough about […]

Read the full article →