Seeking Alpha
  • Robert Edwards
    Where Are Gold & The Miners (GDX & NUGT) Heading In 2014? Much Higher! $GLD, $NUGT, $GDX http://seekingalpha.com/p/1ic55
    12/30/13
    Reply (133)
    • shopvac20: Thanks for the good read, looking for gold prices to get motivated today and have a small rally to finish off the year.
      12/30/13
    • glaserdx: thanks Rob for the guidance - interesting as usual- also interesting links
      12/30/13
    • glaserdx: question Rob aside from MACD shown in your GDX chart, what other indicators do u use?
      12/30/13
    • ptTL9: VantagePoint prediction for today http://bit.ly/1bxgli2
      12/30/13
    • Robert Edwards: Americanbulls.com took a loss in DUST on Friday. That late day surge to new highs in GDX on Friday was very helpful.
      12/30/13
    • davePx: Another downer day....
      12/30/13
    • davePx: Dollar showing weakness gold falls! What is going on here
      12/30/13
    • shopvac20: gold showing painful weakness, a grind all the way down to 1200 :(
      12/30/13
    • Growfast: Dave, seems to me one or the other of USD or Gold is wrong today. With the US debt and ceiling issue headed back to the limelight soon, I
      12/30/13
    • Growfast: think it is the Gold price. Greater inflation expectations would arise out of continuing strength in the economy as well.
      12/30/13
    • Growfast: At this low on Gold, just picked up some call options on NUGT expiring this Friday. We should rally from here.
      12/30/13
    • Robert Edwards: Just bot NEM on close at $22.92. Today's action looks fishy. Still looking for strength on Tuesday.
      12/30/13
    • Growfast: I tend to agree. this is artificially low, especially in light of the USD and Treasury rates pulling back as I think they should. The open
      12/30/13
    • melanielshop: Grow - I wonder if there will be drama on the debt ceiling this time.
      12/30/13
    • melanielshop: I'm thinking politicians don't want to take a hit to political capital like October
      12/30/13
    • Growfast: Good point there. Certainly, I don't think the political view is going to let any bad news on the economy hit around this EOY. But, the debt
      12/30/13
    • Growfast: ceiling card is going to come back up. I believe there will not be a fiasco and crisis this time - but, the highlights in the news, may be a
      12/30/13
    • Growfast: small catalyst. Like you, I do think the FED is going to intend to continue to work on tapering. That is where I see some short-term down-
      12/30/13
    • Robert Edwards: Buying on weakness, GDX was not in top 100 but in last hour, was #44 then #30 at 3:48 pm, GLD #18, NEM #27, IAG #59, XME #87, GG #88
      12/30/13
    • Growfast: side risk. From the last taper, we still haven't recovered back to the 1230 level - although I'm still believing along with RE that we will.
      12/30/13
    • Robert Edwards: At 4:04pm, covering close, buying on weakness GLD # 15, GDX # 31, NEM # 23, IAG # 54, XME # 87, GG # 76. They bot GDX & GLD on the dip!
      12/30/13
    • Robert Edwards: My last hour comments r on the earlier thread if one cares to read them, as I typed while gold sold off, pulling GDX with it this afternoon
      12/30/13
    • Growfast: The money flow continues.... Someone is working to hold down the Gold price to flow funds into these positions.
      12/30/13
    • njtoms: Anyone seen Growfast? MIA...
      12/30/13
    • njtoms: In the recent Past, Bobby, would be advising Everyone to get in on the Cheap NUGT/NEM Price. No? What Changed Mr. Edwards? Care 2 Share?
      12/30/13
    • gonetouring: Tax loss selling of miners almost over, just half a day to go, looking forward to more consecutive up days in 2014 (like - later this week!)
      12/30/13
    • Robert Edwards: I bot NEM on the close at $22.92 as posted above. I am already long so no reason to add here. Will only add in size at lower prices
      12/30/13
    • shopvac20: And the bottom has fallen outta gold again ... Back in the 1180s range.
      12/31/13
    • Growfast: Better look again shop; 1194 and moving. I like the rebound. There are those trying to hammer down last day of 2013 for trading.
      12/31/13
    • Growfast: Playing with a little resistance now at 1200. Lets rock and roll.
      12/31/13
    • Growfast: In the money at this level on NUGT call options but looking for upside move.
      12/31/13
    • Robert Edwards: Caught some more NEM 2 cents off low. Retested support and lows were rejected. Looks quite bullish if we can get above $1200 in gold
      12/31/13
    • Robert Edwards: During night big sell order hit and fell from 1198 to 1194 and then bot up immediately and eventually above 1205. Today bounced again
      12/31/13
    • Growfast: And, now over 1200; 1207 and climbing fast. Here we go folks.
      12/31/13
    • Robert Edwards: Just took out overnight high. Now need to take out 1210 and we could pop to 1240 today in gold!
      12/31/13
    • Lefty6x6: man that was a fun ride for a few minutes ! buying more dust @ 44
      12/31/13
    • Robert Edwards: Took NEM profits $23.16 on shares bot yesterday's close, still holding extra NEM bot near today's lows.
      12/31/13
    • Robert Edwards: Looking quite bullish in here. Impressive short covering. Does not look like they want to knock gold under 1180 after all
      12/31/13
    • Robert Edwards: $1210 did not launch gold but $1220 could cause $20 more up in seconds based on stops. Big stops above $1220 to propel higher
      12/31/13
    • Growfast: The base building here around the 1210 level, looks similar to what was being done in Gold this morning around the 1187 level before up move
      12/31/13
    • Growfast: When NUGT clears 30 and DUST is knocked down below 40, we will start having some fun riding the NUGT train.
      12/31/13
    • Robert Edwards: I was looking for $1200 to hold this week and a move by Tuesday to $1240. I still believe $1240 is doable even with low of $1181 in gold
      12/31/13
    • Robert Edwards: NEM, GG. and NUGT made the selling on strength list today as one would expect. I sold some NEM on strength today to make some pocket change
      12/31/13
    • Robert Edwards: If gold gets to $1220, new buying in NUGT, NEM & GG should remove them from the selling on strength list. GDX not on list which is good
      12/31/13
    • Robert Edwards: Each day it is more apparent there are too many shorts n gold to get it to move down. Probably need a $100 rally minimum to dump some bears
      12/31/13
    • Robert Edwards: When gold becomes a slam dunk sell as Goldman Sachs called it in October, it is not a slam dunk for long. About time we bottomed for good!
      12/31/13
    • dan1981: No fundamental support for gold just some technical bounces, fail to understand why RE favouring gold in last 45 days.
      12/31/13
    • Robert Edwards: I am favoring gold because we r at major support near $1180 and u buy low and sell high. Miners are at 5 year lows. Quite a bargain too
      12/31/13
    • Robert Edwards: Also sentiment is at historical extremes with traders grossly short gold metal and miners so short covering could be explosive soon in both
      12/31/13
    • Robert Edwards: explosive to upside that is. I am a contrarian who lives to buy at extreme bearish sentiment times like now in miners.
      12/31/13
    • Robert Edwards: Charts look bearish because you are looking at the past. The future looks extremely bullish on charts. Leave past and look forward I say
      12/31/13
    • Robert Edwards: I would like to see gold hold $1205 support that was overnight resistance. If it does, we could easily blow through top!
      12/31/13
    • Robert Edwards: DUST has been the trade but like today, very tricky marrying that trade. DUST is the past, NUGT is the future and the future is now!!!
      12/31/13
    • Robert Edwards: I am a scale in buyer and get more long, the lower we go. I have extra cash to buy in case gold goes lower but believe $1155 to $1180 holds
      12/31/13
    • Robert Edwards: Anything that outperforms one year, tends to revert to the mean the next year. Stocks outperformed this year but next year they likely won't
      12/31/13
    • Robert Edwards: Miners and gold so bad in 2013, could be the best place to be in 2014. Next year will not be as bad as this year and likely super great
      12/31/13
    • Robert Edwards: We are at 5 year lows and in 2008, miners fell for 13 weeks only to make major bottom in high $15 in GDX. We are now in 2+ year downtrend
      12/31/13
    • Robert Edwards: We hit the 9th inning and are now in extra innings on this down move but at any time gold could hit a homer and bear game ends
      12/31/13
    • glaserdx: As Rob, Grow & others hav said, inflation is looming--2014 should see it start to bite
      12/31/13
    • shopvac20: great to see the gold pop, I think RE, and grow are right, gaining support for the next pop up.
      12/31/13
    • Lefty6x6: I am not so sure that jan -feb is going to be good for miners....still prime to ride the teeter totter both ways - nugt and dust.
      12/31/13
    • Lefty6x6: i think we will need to clear the 1Q and let yellen make her 'bold' statement first before we get a serious upward move. inflation is coming
      12/31/13
    • Growfast: Lefty - I we got low enough in DUST, I would play that trade shorter term too. At present however, it is my sense that DUST is overvalued.
      12/31/13
    • Growfast: I think there is much more upside risk in Gold now than downside risk. This being the case, I don't want to get caught holding DUST at 45
      12/31/13
    • Growfast: riding it to 30 and looking for a way to get it profitable. I may use protective puts, but only as a hedge for small downside risk.
      12/31/13
    • glaserdx: that said, Lefty has had great success with teeter totter
      12/31/13
    • Growfast: Of course stops could be used to prevent the big down move, but, just doesn't yet seem like the right trade from my perspective. But, I know
      12/31/13
    • Growfast: it has been working for you. I just think your days are numbered on that side - although, could be wrong.
      12/31/13
    • Lefty6x6: growfast: completely agree. I'd like to see nugt find firm footing at 30+ ...which of course would mean dust down around 38 i think.
      12/31/13
    • Lefty6x6: i believe that we will achieve a closer mean avg to both that would be attractive in points for both I'd be ok with buying nugt @ 30 dust 37
      12/31/13
    • Lefty6x6: we do need to begin planning the first annual RE Retreat weekend - say Vegas in September?
      12/31/13
    • Growfast: Those levels would seem a bit more compelling for the DUST trade for sure. When we get there, I will consider joining you on that side too
      12/31/13
    • Growfast: Getting a little action in Gold right now. Looking for this to continue pushing us up again!
      12/31/13
    • Lefty6x6: I'm totally with you on the not wanting to be caught holding dust @ 45. I'd rather sell it and buy nugt down around 27 or so - like today.
      12/31/13
    • Lefty6x6: that's why i sold dust ystrdy (teeter) @ 46 and 47.25 - to get nugt today (totter) @ 26.55
      12/31/13
    • Growfast: I follow you. Nice little slices to pull in some extra change. I've been a little less day to day view short-term opportunistic lately.
      12/31/13
    • Robert Edwards: Gold held 1205 so far for support. Need to close 1205 at 1:30 NY close and things will be set up for possible late pop today to $1220 maybe
      12/31/13
    • Robert Edwards: As soon as gold gets to resistance of 1260 to 1300, I will start daytrading more and possibly look both ways but not at these low prices
      12/31/13
    • Growfast: Looks like one of the big banks that made a 1200 call on EOY 2013 is driving to hit that target for the NY close. We'll see what happens
      12/31/13
    • Growfast: after that close.
      12/31/13
    • Robert Edwards: gold closed slightly down but at least stayed above 1200. GDX is hanging in. Jon Najarian on CNBC mentioned ABX call buying in size today
      12/31/13
    • davePx: Gold struggling today ...mkt surging up, we need a break in the equity buying now to see gold go
      12/31/13
    • shopvac20: Nugt is fighting to stay above 27, if we could get some support/strength from gold we could close above 28 to end the year.come on gold
      12/31/13
    • Growfast: Agree shop; would be nice. Gold is just drifting now with no conviction. NUGT and NEM charts still looking good on bullish view.
      12/31/13
    • davePx: Mkt dropping off a bit we will see what happens...
      12/31/13
    • davePx: We have a bunch of speculators trying to decide what to do!
      12/31/13
    • Robert Edwards: GDX is showing miners want to rally if gold would just stop falling. Way oversold and due for a big move up, even for crappy gold
      12/31/13
    • Robert Edwards: We at least registered another 1200 plus close in gold, despite selloffs late yesterday and early today, 5 in a row now.
      12/31/13
    • Robert Edwards: Every 1200+ close helps build a base. Big sell orders of 500 to 1000 contracts pushing gold around in thin markets making negative prints
      12/31/13
    • davePx: Because of the title you may not have read this but the ending is worth reading http://on.mktw.net/1k4Smkz
      12/31/13
    • sszaheer: buying dust @44.75 for safety
      12/31/13
    • sszaheer: bought at 44.65
      12/31/13
    • Growfast: NUGT is holding pretty strong here with Gold down around 1200. watching the ticker chart, I've never seen the gyrations up and down with
      12/31/13
    • davePx: Hey Shop maybe you will get your gold lift for the day....
      12/31/13
    • Growfast: price going nowhere like the last 20 minutes here. NUGT and NEM appear to view that we are going up from here - not down.
      12/31/13
    • shopvac20: dave, thanks for the MW article, I think they offer some honest perspective, good to see nugt climbing on gold stabilizing,
      12/31/13
    • shopvac20: still want gold to bounce though
      12/31/13
    • davePx: A close above 1205 is looking possible
      12/31/13
    • Growfast: Dave - agree on good thoughts in the article but the author could do some more thinking about his statements. He mixes in globalization,
      12/31/13
    • Growfast: inflation from emerging economies and the concern of stagflation in the US as contributors but doesn't bring those to clarity
      12/31/13
    • Growfast: QE has gone into bank balance sheets - it has not worked its way into money supply that drives growth. That is why many have said QE didn't
      12/31/13
    • Growfast: work. So, stopping the bond buying doesn't concern me at all at slowing inflation or creating deflation on its own. We simply are not
      12/31/13
    • Growfast: putting more on bank balance sheets. What does concern me is - rising mortgage and Treasury rates (this will slow certain markets) in
      12/31/13
    • Growfast: reaction to Fed tightening, which cycles back to how we get money in the US economy. The US consumer is experiencing significant inflation
      12/31/13
    • Growfast: CPI excludes what the consumer sees. This inflation is taking more of the consumers wages as wages are falling in the US market. US debt is
      12/31/13
    • Growfast: increasing. inflation in US for the consumer + inflation in Emerging econs + US debt growth and ceiling issues without resolution - to me,
      12/31/13
    • Growfast: this is the driver for an increasing Gold price again.
      12/31/13
    • glaserdx: once banks get $ off bal sheets & lend, $ go into real economy & inflation will bite driving gold
      12/31/13
    • melanielshop: There goes the bump at the end of the day again
      12/31/13
    • Growfast: Right on. And, either the banks have to get that money into the economy or the FED will have to find a way to (QE 4) to combat the slowing
      12/31/13
    • Growfast: sectors from rising mortgage and treasury rates.
      12/31/13
    • davePx: Should have been a fortune teller....
      12/31/13
    • glaserdx: right on Grow
      12/31/13
    • Growfast: Almost sold NUGT weekly options for profit but decided on this EOD strength, I want to see what happens the first 2 trading days of the New
      12/31/13
    • Growfast: Year Thursday and Friday. Happy New Year all.
      12/31/13
    • glaserdx: Best to all for 2014
      12/31/13
    • glaserdx: As Rob said, gold continues to form base
      12/31/13
    • Robert Edwards: 5 mil share GDX order went off 21.12 after close. Nice shortcovering on close and lots more where that came from later this week hopefully
      12/31/13
    • Robert Edwards: Happy New Year All. Thursday starts a new year and maybe gold and miners turns a new leaf and starts that big rally we keep looking for
      12/31/13
    • shopvac20: Nice end of the day run to 1205.. HAPPY NEW YEAR to all, Onwards and Upwards in 2014 !!! thanks to all for thoughts and contribution.
      12/31/13
    • glaserdx: R.E. please keep writing
      12/31/13
    • Growfast: I second that, Glaser and RE. Enjoy the articles and thoughts, RE. Look forward to continuing the collaboration 2014.
      12/31/13
    • shopvac20: Third that, thanks RE!
      12/31/13
    • glaserdx: ...and Grow, when can we get an article fom you?
      12/31/13
    • davePx: Happy new year, Robert and all. We have had a rocky go the last qtr. Looking to a productive collaboration in 2014 keeping juices flowing.
      Jan 1, 12:39 AM
    • davePx: Much appreciated your insights Robert. Looking fwd to lots more in the New Year D.
      Jan 1, 12:43 AM
    • bobzic: Happy new year everyone. Good trades in 2014.
      Jan 1, 10:03 AM
    • Robert Edwards: New article and thread started, click Bullish on GDX, NUGT, $NEM and $ABX but not $DUST, new article click http://seekingalpha.com/p/1ifyx
      Jan 1, 5:17 PM
    • davePx: Looks a bit like gold is recovering from the Newyears party...
      Jan 1, 8:53 PM
    • Robert Edwards: Gold in night session an hour ago, took out Tuesday's 1214 high. Looking good for a pop on Thursday. That's what I'm talking about!
      Jan 1, 9:29 PM
    • davePx: We may see some hedging against the US dollar today as well as shorts
      Jan 2, 8:07 AM
    • Robert Edwards: I have started a new thread and will be posting there
      Jan 2, 9:15 AM
    • rodh7858: Happy New Year Rob & group. I'm back from my family vacation & nice to see that $NUGT/$GDX/$AUQ are all holding up well in new year.
      Jan 2, 10:06 AM