A couple stocks that Erik is liking at these levels
Erik Wetterling, Founder and Editor of The Hedgeless Horseman joins us to share a couple companies that he thinks are doing good work and he thinks are undervalued.
The XAU completely filled its June 22, 2020 gap yesterday…
https://stockcharts.com/h-sc/ui?s=%24XAU&p=D&yr=1&mn=5&dy=0&id=p63908063172&a=986055675
It’s worth reposting the three supports that it hit yesterday…
https://stockcharts.com/h-sc/ui?s=%24XAU&p=W&yr=5&mn=5&dy=0&id=p61989194843&a=1012440604
Sure seems like your use of the forks standard deviations is real effective Matthew….
As long as I don’t get lazy, it works pretty well.
This HUI:DIA fork might have marked a major low perfectly:
https://stockcharts.com/h-sc/ui?s=%24HUI%3ADIA&p=W&yr=6&mn=0&dy=0&id=p09104056258&a=953633255
Big money managers are active as new quarters begin so tomorrow could be interesting.
Looks like that gap occurred during the War of the Roses. Glad we got a fill.
There is a ton (at least a few) of new articles on Wall Street on Parade concerning Fed and Wall street Bank fraud. Some related to commodities like trying to corner commercial markets….and other things that banks with fiduciary duty should should not get involved in. Let’s see if Justice can handle it…
” Buy when there’s blood in the streets , even if the blood is your own ”
Baron Von Rothschild.
Anyone got a bandaid.
LOL
Good one David. I may need more than one bandaid. Haha!
Gold Mining Stock Sentiment Hits New Lows: Contrarian Buying Opportunity
Sep. 29, 2021 – Gold Mining Bull – Seeking Alpha
– A stronger dollar and rising treasury yields are hurting gold prices this week; $1,675/oz downside target in play.
– The gold miner bullish percent index has hit extreme oversold levels last seen in March 2020. Nobody wants gold miners here.
– Several Gold Mining Bull portfolio stocks are outperforming the market.
– Update on the metals and gold mining sector.
All true, but PM sentiment as measured by $bpgdm always drops to 5 or less at major bottoms.
It bottomed at 16.87 at the extremely important low of 2018 while gold was well under $1,200.
At the January low of 2016, THE bear market low for the gold miners, it was 13.79 and had a weekly RSI(14) reading of 41.05 while today it is 20 with an oversold RSI reading of 28.51.
100% not true and glen brought this up a week ago! Again jerry is my witness lol..
2008 bottom happened around 15 give or take when most miners hit there lows. It continues lower but miners had already began there move higher. This is why I have everyone I’m here a wise tip a week ago if you all remember that anything between 15-20 is a serious buy.
Glen
My response was to truth
Agreed Matthew & Glenfidish. I had posted this last week dispelling this notion that the “$bpgdm always drops to 5 or less at major bottoms.” That has not been the case for this whole bull market cycle at bottoms.
Here’s the repost from last week on this same topic.
____________________________________________________________________________
> On September 23, 2021 at 3:35 pm,
Excelsior says:
The BPGDM has not dropped below a reading of 5 at significant bottoms in the last 6 years, and all the other bottoms were much higher levels than that, so not really sure where you are getting your readings from.
The lowest bottoms in the last half dozen years, since this bull market started were at 7.14 and 7.69. Keep in mind that the 7.69 reading synched up with the Pandemic Crash of March 2020.
The 2016 major bottom in gold mining stocks was at 13.79 on the BPGDM, so if folks were waiting for a 5 reading then, they’d still be waiting and would have missed the entire move higher.
Here are the rest of the low readings on the BPGDM index where miners made intermediate bottoms:
16.67, 17.86, 21.43, 23.08, 24.14, 32.14, and 34.48.
>>> So where in the world are you getting the idea that BPGDM needs to drop to 5?
Here’s a BPGDM chart that shows the actual factual bottoms in it going back to the end of the bear market in 2015, and beginning of the bull market in 2016.
Freaky Friday ….. within hours…. again.
You people should watch this …. IMO
https://www.youtube.com/watch?v=IX-vIlIx5bc
Keith always a good listen…… That could be the IRISH Channel… You should be the commentator in lieu to those guys…. JMO
I would almost guarantee , you have more experience than those blokes..
My first question would have been: Keith, where are you?
He was holed up in his Neumarium. Ha!
I expected bugs on the screen, butterflies in the background and a lizard eating.
is Keith trying to save the rain forest
Current Quality : https://tinyurl.com/2vc9pznu
PMs: Wednesday turn. Silver head fake.
General Market on the march?
King Dollar still dictates.
SILJ is now 11.84 and based on the 5 minute chart, I’d say it is heading for at least 12.30 next.
Either way, my 11.48 buy yesterday looks pretty good.