JMU MAY 24

Juniors PGEN Marines Update (JMU).

(Pronounced “JAYMEW”)

 

 May 24, 2016

 

 Junior PGEN Marines Update 

 

  1. The planting process has slowely started!!! already buying back some positions at 10{7d2759035a2769ee7a6afa7c646e6642b67314b0cd0e17ac0c6ae4f965ff87d9} LOWER then they were back on Friday!!!!” – GoldLion, May 24, 2016.
  2. Who is the metals sector champ right now? For the answer, please click here now: http://gracelandjuniors.com/wordpress/wp-content/uploads/2016/05/2016may24sil1.png That’s the daily SIL silver stocks ETF.
  3. Silver stocks have been incredibly resilient on the recoil from sell-side resistance at gold bullion $1320. Silver itself has essentially staged a mini implosion, and yet the silver miners show more strength than the gold stocks do, here in the recoil zone!
  4. I’ve talked in-depth (and beyond in-depth) about the need to “wait for the pain”. There’s no question that a bounce is due for the metals sector, but there’s also no question that there’s only a modest amount of what I would call pain at this point in time.
  5. Since recoiling from $1306 in the $1320 resistance recoil zone, gold has finally arrived today at the outer edge of the $1228 support zone that it burst out of earlier this year.
  6. This is a rebuy zone, but remember to wait for both pain and getting your analysis all wrong before buying with too much size.
  7. Please click here now: http://gracelandjuniors.com/wordpress/wp-content/uploads/2016/05/2016may24gldx1.png That’s the daily gold explorers ETF (GLDX).
  8. It blew out the neckline of an H&S top today, and may be headed down to support at $24.
  9. But… please click here now: http://gracelandjuniors.com/wordpress/wp-content/uploads/2016/05/2016may24gldx2.png I’ve added some broadening green trendlines to the GLDX chart.
  10. That’s quite a positive scenario, and the pullback may end more around $29 in this scenario.
  11. Please click here now: http://gracelandjuniors.com/wordpress/wp-content/uploads/2016/05/2016may24j1.png That’s the GDXJ daily chart.
  12. There’s no question that, at least on the daily charts, there is serious minor trend technical damage. There’s also no question I’ve suggested $1275 - $1325 and $1300 -$1350 are selling areas to sell gold stock for cash or for paper gold.
  13. A recoil of size after arriving at the $1307 - $1320 resistance zone, and doing so after a $260 rally is totally normal and healthy. Of course you should understand that the banksters like to make every price decline a “memorable” one for those participating in it.  Wait for some pain, before swinging your bat for home runs.
  14. Please click here now: http://gracelandjuniors.com/wordpress/wp-content/uploads/2016/05/2016may24lvn1.png That’s Levon. The point I’m making here is that when the dust settles on the price recoil, many of your junior gold stocks will keep surging higher, as Levon did on a down gold day like today.
  15. Please click here now: http://gracelandjuniors.com/wordpress/wp-content/uploads/2016/05/2016mar24zjn1.png That’s ZJN-TSX, our junior natural gas stocks ETF.
  16. While it’s looking tired in the short term after rallying what natgas went nowhere (!), I will note that monster weight commodity economist Jeff Currie turned positive on natgas today. Weakness can accumulated via ZJN or via the individual seven sisters component stocks.
  17. Jeff is a bit of a scumbag, but he’s very influential, and I’ll add that I believe 2017 will go down in history as a year that La Nina brings a very cold winter to North America.
  18. Please click here now: http://gracelandjuniors.com/wordpress/wp-content/uploads/2016/05/2016may24chow1.png That’s the daily Chow Tai Fook chart.
  19. Chow is China’s biggest gold jeweller. It does seem to be trying to make some kind of base here, but it has no upside traction yet.
  20. The failure of the Chow rally in Mid-April helped turn me cautious about your gold stocks in the short term.
  21. I will say that I was happy to see top Blackstone analyst Byron Wien quoted in Barron’s as saying he sees 1 rate hike in 2016 and low global growth (2{7d2759035a2769ee7a6afa7c646e6642b67314b0cd0e17ac0c6ae4f965ff87d9}) and he’s modestly positive on China.
  22. Gridtime!  He also sees the Dow having an overall negative year in 2016.  His views, if they materialize, are good for gold and your mines that find and produce it!  Gold is under pressure for a number of reasons.  Indian demand IS weak, but poised for a huge surge higher in 2016 H2.  Bank propaganda about rate hikes is the other thing that is pressuring gold now.  A July rate hike is given a 60{7d2759035a2769ee7a6afa7c646e6642b67314b0cd0e17ac0c6ae4f965ff87d9} probability by Wall Street analysts.  That’s right in front of stock market crash season, and right in front of the beginning of Diwali season prep in India.  Stay calm out there, and remember to wait for real pain before going hog wild on the buy.  You already own more than enough gold stock to have an mindboggling smile on any gold price upday!  Let’s hit the gridlines now.  I’ll see you there!

 

Kirk Jr. on the gold explorers bridge, out! 

Thanks!

           Cheers

           St

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