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Director of Research & Owner at Ivancic Associates. Creator of the IMTS which uses multiple variables and signals to create a heatmap of market health and momentum.
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  • Gold, Silver And Crude Oil Morning Update 0 comments
    Dec 9, 2013 8:12 AM | about stocks: DGLD, DSLV, DWTI, OIL, UGLD, USLV, UWTI

    ** This is a preview of what members get in their reports **


    Type of market: BEAR

    Investors should be: SHORT

    Exit Shorts and go to cash: 1394 (or more)

    Go long: 1422 (or more)

    To show you how low gold is right now, it would have to go up all the way to 1394 just to leave the bear market that it finds itself in and be Neutral. While gold has fallen quite a bit so far, it still hasn't gotten to the point where the IMTS can safely call a bottom. In fact, it is in a range (-0.044) where it should fall further. In order to call a bottom, gold would have to fall to the 1090 to 1180 range.


    Type of market: BEAR

    Investors should be: SHORT

    Exit Shorts and go to cash: 23.57 (or more)

    Go long: 24.05 (or more)

    Silver is also plumbing the depths much like gold. Silver is actually much closer to a bottom, but is also teetering on the precipice of much lower lows if it can't build some upside momentum. Silver needs to shoot up to 23.57 or greater in order to just become Neutral in our IMTS, and over 24.05 to enter another Bull market. On the flip side, silver could fall to 18.50 or even as low as 15.50 if it fails in its upside swing.

    Crude OIl (NYSE:WTI)

    Type of market: BEAR

    Investors should be: CAUTIOUSLY SHORT

    Exit Shorts and go to cash: 98.10 (or more)

    Go long: 100.08 (or more)

    Crude Oil has worked its way back up to almost Neutral territory after its drop recently. There is a risk, even after its solid climb recently, of dropping again so we do not recommend starting any long positions unless it regains the 100.08 level or greater.

    Disclosure: I am short DGLD.

    Additional disclosure: I may exit my short gold position (NASDAQ:DGLD) within the next 24-48 hours.

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