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written on 7-24-12 "the treasury bubble (TLT) is in danger of popping." http://seekingalpha.com/a/g0eb Aug 15, 2012
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http://seekingalpha.com/a/5mfc UXG and Mneaf.ob merge Jun 14, 2011
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http://seekingalpha.com/a/5mfc UXG and MAI.TO Merge Jun 14, 2011
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Connev on Video with Thestreet.com From December On Fronteer No mention of PALADIN in the Fronteer/Newmont d...
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200 day moving average,
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advance decline.,
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Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.
View Jeb Handwerger's Instablogs on:
Long Term Trend In Gold, Silver And Miners Ascends Upward
My firm has stated unequivocally that we have been programmed over the past two months to accept accommodative policies and QE3. The recent downturn in economic data such as home prices, increased unemployment and decreased manufacturing, indicates that we are being prepared to accept further bailouts and money printing measures. The Fed has already invested trillions of dollars in order to stabilize the capital markets. We are heading into the election year. Fed policies may be affected by political concerns in order to continue the accommodative measures of the Obama administration.
We have assiduously monitored the all important level of GDX $52.50 for several weeks. It was important that this support held for the long term uptrend. We saw a head fake, or bear trap through $52.50, the 2011 low. The new low was not confirmed by our indicators. This signaled a potential turning point and head fake.
The market will often do what it can to confuse us. Ergo, in an attempt to shake out weak holders, a head fake break below this support occurred. After these fakeouts occur at support, powerful moves tend to follow, which we are currently witnessing.
In plain language, the all important 200-day moving average, which has been regained, proves the long term trend in mining stocks moves on a labyrinthian path; however the path ascends upward over time.
Silver is showing signs of demand as it regains its 50-day moving average. Notice the 200-day moving average continues to catch up with the price during this consolidation. This recent pullback has been quite healthy for the silver market and has wiped out a lot of speculative hedge funds and day traders who bought at the wrong time when it was overbought and extended way above the 200-day moving average. Notice the decreasing volume, showing that the enthusiasm of profit taking and selling is waning.
An ascending triangle has been forming and I believe we may see a breakout to the upside where we can challenge April highs.
Gold is making a record breakout and is forming a bullish symmetrical triangle. This breakout may lead us to our $160 target, originally forecasted in late January. A high volume breakout to the upside has occurred. These continuation patterns favor a confirmed upside breakout.
Disclosure: I am long GLD, SLV, GDX.
Video On Dollar Declining To New Lows As Precious Metals Breakout
Video On Dollar Declining To New Lows As Precious Metals Breakout
Video with Thestreet.com From December On Fronteer