Jan 18, 2014

 what a week update

1.   Junior gold profits harvesting season…. is here!

2.   Tax-loss selling season should be renamed amoebas in action season.

3.   Over the past 5 trading days, these idiots who sold all their junior gold stocks to buy the Dow, saw the Dow gain point one percent (.1{7d2759035a2769ee7a6afa7c646e6642b67314b0cd0e17ac0c6ae4f965ff87d9}) this week, while GDXJ gained 11{7d2759035a2769ee7a6afa7c646e6642b67314b0cd0e17ac0c6ae4f965ff87d9}, which is one hundred times more than the Dow gained.

4.   Yesterday, GDXJ gained 6 percent, while the Dow Joke gained .25{7d2759035a2769ee7a6afa7c646e6642b67314b0cd0e17ac0c6ae4f965ff87d9}, so yesterday junior gold stocks only did 24 times better than the Dow did.

5.   Many of your individual stocks were up 25{7d2759035a2769ee7a6afa7c646e6642b67314b0cd0e17ac0c6ae4f965ff87d9} - 100{7d2759035a2769ee7a6afa7c646e6642b67314b0cd0e17ac0c6ae4f965ff87d9} this week.

6.   The biggest joke of all is that a huge chunk of the amoeba season crew were actually net short gold stocks from the recent lows, just like they shorted the Dow into its lows of 6500 in 2008 – 2009.

7.   I lost count of how many lobotomized gold gurus were engaged in a contest to predict gold lower as the rally began, but leaving aside the perennial “and now we go parabolic” crew, it was close to 100{7d2759035a2769ee7a6afa7c646e6642b67314b0cd0e17ac0c6ae4f965ff87d9} of the gold guru community.

8.   And that, dear junior gold stock pgen-to-zero marines, is defined on page 1 of your wealth builder’s dictionary as:

9.   Upside Rocket Fuel.

10.    In the gold bullion world, tonnage rocks, and everything else walks.  In the gold stocks world, volume rocks, and everything else walks.   

11.    On that note, please click here now.  Double-click to enlarge this stunning GDXJ weekly chart, featuring, by far, the largest one-week volume bar in the history of GDXJ.

12.    I showed you this chart earlier in the week, as price pushed up against the 3rd fan line. 

13.    Now it’s breaking out above that key line, key not because YOU should buy, but key because YOU will SELL to all the idiots that line up to buy from you, as it rises.

14.    Remember not to sell your core positions, regardless of how “overbought” and “surefire” a decline is.

15.    This breakout is accompanied by so much volume that it’s sure to attract massive numbers of momentum players.

16.    There are so many individual stocks leaping into the cash register zone….. I’ll try to cover a load of them today, on the website, and send you an email when they are posted.

17.    Please click here now.  Double-click to enlarge this phenomenal daily chart, of junior gold stocks taking Queen Gold to the woodshed for a serious beating! 

18.    Note how far price has jumped above the keltner supply line (the green “river banks” surrounding the price river. 

19.    GDXJ has jumped from 24 gold cents a share to 30 gold cents a share, in about 6 weeks.  Look at the daily volume bars this week.  Ultra-bullish!

20.    I told the GU readers that some heavyweight bank technicians, including Commerzbank, are watching the $1270 area very carefully. 

21.    Gold stocks tend to lead bullion, generally speaking, and that’s especially the case when inflation is rising and recognized by institutions as rising.

22.    If gold can trade over $1255, it could ignite a wild move higher by GDXJ, and a move over $1270 could create a “space helmets on” type of move, in an intermediate trend sense.

23.    Obviously, if you are dumb enough to buy a “breakout” over $1270, rather than selling into it and booking massive profits alongside the banksters, you are asking to get taken to the woodshed by the banksters, and it will be then Queen Gold’s turn to take the GDXJ price chasers to the woodshed as well.

24.    GDXJ is substantially (but not massively) overbought in a minor trend sense, but flashing huge buy signals in an intermediate trend sense.


Report Card Day!  I am absolutely against booking profits in dollars, because this move could continue higher, and “corrections” could take the form of sideways moves, rather than declines.  If it all melts away in the short term, there’s only a 99.99{7d2759035a2769ee7a6afa7c646e6642b67314b0cd0e17ac0c6ae4f965ff87d9} chance that profits booked in gold currency will be able to buy much more juniors stock.  From a short term tactical perspective, the risk here is booking profits in cash.  Individual gamblers (many of you) should consider booking profits in GDXJ, GLDX, or SIL “currency”, keeping you even more in the game, yet if there’s a sell off, likely able to buy more of your individual stock back.  What a week!  And there’s a chance we might do it all again next week!!!





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