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Crude Oil Trader
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Crude Oil Calls, Superior Trading Tools Visit us at http://crudeoiltrader.blogspot.com
My company:
Ray @ The Crude Oil Trader
My blog:
Crude Oil Trader
My book:
A Trader's First Book on Commodities: An Introduction to The World's Fastest Growing Market
  • Is Santa Coming Early For Gold & Gold Mining Stocks?  0 comments
    Oct 28, 2012 10:26 PM | about stocks: GDX, GDXJ, GLD, GLL, GOLD

    If you own physical gold, gold mining stocks or plan on buying anything related to precious metals before year end, you are likely going to get excited because of what my analysis and outlook shows.

    Since gold topped abruptly a year ago (Sept 2011) with a massive wave of selling which sent the price of gold from $1920 down to $1535, technical analysts knew that type of damage which had be done to the chart pattern could take a year or more to stabilize before gold would be able to continue higher.

    Fast forwarding twelve months to today (Oct 2012). You can see that gold looks to have stabilized and is building a basing pattern (launch pad) for another major rally. The charts illustrated below show my big picture analysis, thoughts and investment idea......Here's our charts.

    Themes: Chris, gold, silver, Santa Stocks: GDX, GDXJ, GLD, GLL, GOLD
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