Gold breaking out and stocks continuing to get a bid higher
Dave Erfle joins me today for a focus on the precious metals sector. with gold closing at it’s highest quarterly close ever this is drawing more investors into the sector.
We discuss Dave’s trading strategy for the stocks and the environment where even small metals stocks with no news are getting a strong buy.
Cup and handle …………looking good…. 🙂
Beer and stein………….looking good… LOL! DT
Fun and games………..looking better…lol 🙂
Yesterday:
On June 29, 2020 at 8:27 pm,
Matthew says:
The Canadian dollar looks like it will soon rise which is what we want to see when the miners look good.
—————
Today, it is up significantly:
https://stockcharts.com/h-sc/ui?s=%24CDW&p=D&yr=1&mn=5&dy=10&id=p89334850916&a=681313181
Jerry Matt did very much mention that! We here at the ker serve a purpose lol.
Excellent job to all..
Did anyone notice my monthly call of $1800-$1823?
I nailed it $1800.50 lol.. through me a bone
Glenn……….You were SPOT ON……….
Yes, spot on, Glen!
Thanks Jerry and Matt for your kind words 😃🍾
I’m also in agreement with Matt regarding to weekly but more specifically monthly pointing higher and i believe it’s pointing higher at those targets I have mentioned. I remain keen that for now higher quite possibly for 4-6 weeks more. Then we will update the crowd. Nothing goes up forever so healthy corrections are good for the bull to continue. But as I say higher for at least the time above.
Next target $1820-$1840.. no timeline here as it’s getting more difficult to nail lol
Cheers to all and to all a great day!
Ditto………on Nothing goes up forever so healthy corrections are good
Just a note…….delivery at comex contracts are interesting…..I posted it in another section…..
Wash and rinse…………gold going higher…….just a pause in the action…..
Congress out with a WORTHLESS MESSAGE on the mask………
Neocons join in with the demwhits…….Elites just pushing the needle, to make some more profits for their bosses, the Drug companies…..totally a joke……
Ding dongs with the wrong message…….non of their research is accurate…..jmo
Sheeple are so lost , is is pathetic …………
I just added to my SILJ at 11.52…
https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=0&mn=7&dy=5&id=p48711644141
I think you are way ahead of the pack on that one…….I would say well done……
Matthew, in terms of price target from hold to sell for SILJ… what is your approximate target price on that for when you pull the sell trigger? Is this a day trading exercise or is this linked to your view of price of gold getting to 1840 or 1900… or longer term?
Thanks.
I wasn’t thinking we were punching thru 1800 until post-December.
I do day trade here and there with the trend but I intend to stay long SILJ for at least months (I got long just above 10 after the recent pullback).
My minimum target in the months ahead is 18 but I would be surprised if it doesn’t hit 22-23. I’ll let the charts guide my actions along the way, however, and will probably sell some at lower resistance levels along the way with the intention of buying the shares back at a lower price. I think the technical term for this is “getting cute” and most seem to be against it. 😉
Silver looks so much better than gold for the short term and beyond and I bet we’ll see the SLV:GLD breakout that I mentioned recently happen tomorrow…
https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=1&mn=0&dy=0&id=p02594517809&a=722423179
I personally appreciate the added insight Matthew. Thanks.
Matthew…….mentioned this the other day……thanks for the heads up….