The HUI FCS continues on a BUY signal and my GDX position is currently up 15.2% I see growing strength developing in this move as silver and the mining indices have now all joined gold and taken out their previous highs. The HUI:Gold ratio continues to remain steady at .5 and showing no favoritism, gold continues to outperform silver, and […]
The HUI FCS continues on a SELL signal but could change to buy very soon. Gold is consolidating just above $800 and forming a very reliable continuation pattern; the high, tight pendant formation. A convenient feature of this structure is they frequently mark the midway point of strong price impulses; so another surge to $975 appears to be close at hand! This is […]
The HUI FCS remains on BUY. However it has been very dissappointing to see this GDX trade remain stuck in the broad market mud while gold bullion triumphantly left $800 behind and surged close to its all time high. Unfortunately, the banking stocks have bull dozed the markets and little has been spared including mining stocks leaving them underperforming bullion. But as a result of this, the […]
The HUI broke through a very significant resistant confluence today and at the same time the FCS has gone to a BUY signal. Mid-day I was very pleased with how price was holding so I entered half the position in GDX and will enter the remainder at tomorrow’s open. The HUI 423 level represents important Fibonacci and Gann […]
The HUI FCS issued a SELL signal after Friday’s close. I will close out my GDX position at the markets open on Monday for a 23.8% gain; not bad for only a 6 week trade. Only 5 of the systems 24 winning trades have exceeded this return during the seven years of running it and only one of those exceeded 30% So in […]
The HUI FCS now is up 26.5% in the current GDX trade. Price bars have formed a large bearish harami, a two Chinese candlestick formation. This could indicate a larger scale retreat from here. However, candlesticks are not reliable enough to trade on alone and the larger picture appears to be a bullish break out with more upside and maybe a […]
The HUI FCS remains in STRONG BUY mode and my GDX long trade is now up 23.5% Today I added to my position based on the trends sustained strength and a tradable pattern break out. The recent consolidation formed a well defined flag pattern from which we just had a bullish break out today. This consolidation […]
The HUI FCS signal remains on a BUY for precious metals with our GDX long position now up 21% in less than three weeks! It is encouraging to still see bearishness and outright denigration of gold as it finally surges to a new high once again. An uptrend in all time frames is the type of nasty behavior I happen to like most when […]
The HUI FCS sparked and the buy light flashed after last Friday’s closing price. I entered a long position in GDX at Tuesday’s open at 37.80. The spark did ignite a fire as the index rallied sharply this week quickly putting us in the trading comfort zone closing at 41.2 or up 9%. So now I am expecting the usual smack down erasing most […]
With today’s deja vu of the Shanghai dump earlier this year, the FCS has issued a SELL signal for precious metals and the gold mining stocks. This trade will register another small gain of 1.2% It appears nothing has really changed except that now there is a slightly ascending trendline above most of the HUI highs […]
