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Bob Kirtley  

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  • Gold Has 2 Major Hurdles To Overcome [View article]
    Team,

    Im hitting the road this weekend and will be away from my desk for the next 4 weeks or so, but I will tune in and try and answer any queries, but it will be a little erratic as my time is dependent on the schedule of those that I want to see.

    Anyway take care and enjoy the summer lull, Bob K
    May 28, 2015. 07:25 PM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    Not a chance - he is tough and will bounce back, especially if gold turns around now and heads to higher ground.
    May 27, 2015. 05:22 PM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    I am saddened to read the above as I have been jousting with Steven for a few years now and have admired his conviction and courage to back his beliefs to the full.

    As you well know I haven't been able to line up with the bulls as I'm of the view that we are not out of the woods yet.

    There are many among us who have followed the perma-bulls and who are suffering at this time. I can only hope that the PMs turn around and head for higher ground in the not too distant future, however, I'm not a buyer yet and our subscribers are advised to be patient, not an easy thing to do.
    Take care and try and be patient, gold's time will come.
    May 26, 2015. 06:01 PM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Sleeps At Least For Now [View article]
    Gold has 2 hurdles

    1. Interest rate rises in the US
    2. Money printing by others

    Both support the $ and put downward pressure on gold.

    Take care , Bob
    May 25, 2015. 09:39 PM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    I am looking for a big rise in gold prices but its not on the cards just yet.
    Janet Yellen is talking about rate rise this year which is supportive of the dollar and will hamper gold's ability to rally - patience is still the order of the day as the US dollar continues to outperform the PM's.
    May 22, 2015. 08:27 PM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    For starters I doubt I will pay $40.00 for it let alone $80.00 because it has been a poor performer so far.

    You talk about GSXJ being likely to go up - well its also likely to go down and you are losing money on it right now whereas we have banked the profits by shorting it.

    So we have more cash to spend when the time comes and you can't participate because you are all-in. Would we trade you positions right now? - not a chance.
    May 21, 2015. 04:23 PM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    If GDXJ is trading today at $25.85 then it wasn't a good buy at $40.00.

    Further more it will get cheaper this summer and as you say; time will tell.
    May 19, 2015. 09:01 PM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    I agree with your first sentence;

    "An intelligent investor doesn't remain permanently bullish or bearish toward any asset, no matter what it is."

    However, you have been bullish on GDXJ for as long as I can remember - you did say it was a good buy when it was around $40.00, and I have never seen you sell it, so you must be well and truly in the red with GDXJ. On the other hand we have shorted it 3 times and made a profit each time as our trading record shows. http://bit.ly/17UodLA

    Our cash position has grown in readiness for the resumption of this rally a position which we are very comfortable with. But, alas, as you are 'all-in' so you wont be able to take part.
    Take care.
    May 19, 2015. 05:11 PM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    The four year period you mention was part of the corrective process, however, the perma-bulls have stuck to their mantra of buy, buy, buy despite the erosion in prices.

    When everyone gives up and throws in the towel we will have that final capitulation and many bargains to choose from including the likes of GDXJ. But I would still rather do the work and buy individual stocks rather than this fund which peaked at $150 as now trading at $26.70. SGDJ might be a better vehicle to use if funds is your thing, but as you say we will see shortly.
    Take care, Bob K
    May 17, 2015. 09:56 PM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    We certainly hope that the subsequent bull market is dramatic and it looks to be close at hand. However, bear markets usually end with a final capitulation and this is something that we have not seen yet. Should the dollar bounce from here which is a good possibility with the RSI being under 30 suggesting that it oversold, then gold will no doubt retrace its steps and once again challenge the lows around the $1150/oz mark.
    May 17, 2015. 07:12 PM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    According to Stockcharts GDXJ formed a lower low in December and another one in March and it is still more or less the same price as it was at the start of the year.

    If it rallies and gets to say $30.00 I will be seriously considering shorting it again as we have been doing successfully throughout this bear phase.
    
    In order to form a new higher high GDXJ needs to get above $30.00.

    'The fact that so many analysts don't recognize this uptrend' - maybe that's because there isn't an uptrend?

    take care
    May 14, 2015. 06:38 PM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    james,

    I believe that you have already said that, but the above comment is a statement of fact and not rhetoric.
    May 10, 2015. 05:54 PM | 1 Like Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    Gold has slowly drifted lower in recent weeks and in recent months it has been all over the place - there is no trend of higher lows in place on gold's chart.

    Further more the dollar has lost 6% over the last month or so and what did gold do -
    nothing at all

    Look out below
    May 10, 2015. 12:13 AM | 1 Like Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    Dollar drops but gold fails to rally - not a good sign for gold prices - Cash is still King

    http://bit.ly/1JY6dBz

    Take care
    May 2, 2015. 12:35 AM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    "DXY is today DOWN 0.30 to 97.76 to soon challenge the crucial 97.5 level, which if that fails will activate its Double Top at 100, and thereby signal a large drop to approximately 89"

    Well as I read this the DXY is 97.30, so if you are correct then the USD should fall to 89 - we'll soon know.

    The other events that you mention, Greece, etc, are all known about and to some extent they are baked into the cake.

    We will no doubt get small rallies and small falls over any short time period, but overall gold will trade $1000/oz this year.

    Take care
    Apr 23, 2015. 05:25 PM | Likes Like |Link to Comment
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