December Metals Report

Greetings friends- I'm basically just pasting a bunch of charts for you today that caught my eye, with only captions. But I'll have a more thorough year end post for you. Following my successful guarantee that the Swiss Initiative would fail, I am emboldened to make another --but only to my Platinum Members ... $1350 gold in the next three months. 



Chart of the month. All time low
I added to my collection of giant silver bars. At these prices, they're a steal. And they're great conversation pieces
big picture perspective
Gold's correction looks positively healthy from 30,000 ft

But has it bottomed yet? This chart says no. 
I want to see this ratio break through the purple line
And a monthly close over the blue line

 300-day MA will be significant


But the worst in gold vs. equities is probably over




And I think the bull market in equities has another year



e.g. this ratio should not reverse any time soon

Mining stocks have led gold. Did GDXJ V-bottom in Novemeber?

My target here is close
 These charts are less helpful for trading when there's such a large bar on the board. But they don't look pretty ...

 See you soon-

GM

7 comments:

costata said...

Hi GM,

Thanks for sharing the TA with us. I hope you continue to enjoy success in your trading. As long as governments and their central bank partners can ensure there's no fun in fundamental analysis I guess it's TA all the way (until it isn't).

Cheers

Frank said...

Hi GM,

I could not find on the blog site any section to get more details on Platinum members, which you stated on your post today.

Your assistance is appreciated.

Thanks

Tifosi

Malcolm McIntyre said...

A joke re platinum members Frank ... he's stated his forecast of $1350 gold.

GM Jenkins said...

Ah yes, thanks Malcolm, I was just joshing’ — though sounds to me that Frank was engaging in meta-irony of some sort…

"As long as governments and their central bank partners can ensure there's no fun in fundamental analysis I guess it's TA all the way (until it isn't)."

Well put - on that topic, I found this interesting. I must say, GATA has been doing some really good work lately (I only wish they would distance themselves from the atrocious KWN, the way Ed Steer, e.g., has)

costata said...

Hi GM,

I hadn't seen anything on that GATA find about CB trading accounts with CME. Thanks for the link. It makes sense, the BIS gold trading desk apparently does huge amounts of business. So I guess all of the bug CBs are into manipulation as well. Seems we don't have markets anymore in The-Golden-Age-Of-The-Meddler™.

Continuing this theme of meta-irony - we are planning to implement Harry Browne's investment strategy (called The Permanent Portfolio) and I'm looking to TA for guidance on timing. So if you see this chart pattern emerging please let me know:

https://bullbearbarometer.files.wordpress.com/2014/11/screen-shot-2014-11-04-at-10-56-42-am.png

Cheers

costata said...

Paul Mylchreest (who used to produce the Thunder Road report) is discussing a possible long Nikkei and short Gold play that could have been in place since September 2012:

http://www.zerohedge.com/news/2014-12-04/inside-look-shocking-role-gold-new-normal

I'm wondering if the TA folks think Mylchreest's analysis is sound?

Gary said...

Just recording this interesting Twitter discussion here for posterity and future review.

https://twitter.com/costata001/status/551536630071181313