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Palladium ETF Hits 7-Year Low

August 5, 2024

From the Desk of Ian Culley @IanCulley

Give the bears a pass. 

Precious metals and the companies that mine the rocks are seeing red. The new lows list is expanding. And breakouts are failing. 

I don’t want to step in front of that broadening weakness.

Instead, it’s time to protect profits and cut losers. Especially those losers printing multi-year lows…

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Palladium ETF Hits 7-Year Low

August 5, 2024

From the Desk of Ian Culley @IanCulley

Give the Bears a pass. 

Precious metals and the companies that mine the rocks are seeing red. The new lows list is expanding. And breakouts are failing. 

I don’t want to step in front of that broadening weakness.

Instead, it’s time to protect profits and cut losers. Especially those losers printing multi-year lows…

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The Widowmaker Prepares for Blast-Off

July 26, 2024

From the Desks of Ian Culley @IanCulley and Sam Gatlin @Sam_Gatlin

It’s time to buy natty gas.

A bullish momentum swing is on the verge of flashing green. And seasonal tailwinds are due to pick up as price pulls back. 

Plus, the dominant four-year cycle is approaching the next expansion phase.

Buckle up!

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Gold: One Good Trend Pays for 'Em All

July 22, 2024

From the Desk of Ian Culley @IanCulley

Gold’s failed breakout is testing investor resolve.

But let’s consider last week’s action before unearthing our bullion.

Check out the failed breakout with a bearish momentum divergence in the lower pane:

Waning momentum and failed breakouts go hand in hand. Gold futures proved an excellent example of momentum diverging from price, one of the reasons we track RSI readings.

But just because momentum confirmed the failed breakout doesn’t mean we should turn bearish gold and precious metals.

Remember, gold posted a new all-time high last week. New all-time highs are bullish in my book, no matter how you slice them.

Plus, the March breakout remains valid, and the underlying uptrend is intact:

Zoom out on the weekly chart, and last week’s bar becomes a whipsaw (much like last December’s false start).

I get it: No one likes...

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Base & Industrial Metals: From Failed Breakouts to Fresh Breakdowns

July 19, 2024

From the Desk of Ian Culley @IanCulley

Risk assets are taking a hit.

The major equity indexes are seeing red. Crude oil is slipping below eighty bucks. And Gold is failing at new all-time highs.

Perhaps the markets are navigating the summertime blues – a tune base and industrial metal investors have been humming for months.

 

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Mining Stocks > Shiny Rocks

July 15, 2024

From the Desk of Ian Culley @IanCulley

Precious metals might be the most straightforward trade on the sheets right now.

Gold is 10 bucks away from a new all-time high. Silver and platinum are holding above critical breakout levels. And mining stocks are ripping.

Close your eyes and take a swing. You’re bound to hit a winner.

But your odds of success (and potential payout) improve if you forego shiny rocks in favor of buying gold and silver mining stocks.

Check out the Gold Miners $GDX breaking out relative to the Physical Gold Trust ETF $GLD:

GDX outperforming GLD speaks to risk-seeking behavior – a bullish environment for mining stocks and physical metals.

No wonder Alamos Gold $AGI, Eldorado Gold $EGO, and Kinross Gold $KGC are posting fresh multi-year highs. The most resilient trends outperform their alternatives – just like the Gold Miners ETF in the above chart. 

Meanwhile, the laggards refuse to break down. Even Newfound Gold $NFGC – fresh off all-time lows – has rallied more than...

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Mining Stocks > Shiny Rocks

July 15, 2024

Precious metals might be the most straightforward trade on the sheets right now.

Gold is ten bucks away from a new all-time high. Silver and platinum are holding above critical breakout levels. And mining stocks are ripping.

Close your eyes and take a swing. You’re bound to hit a winner.

But your odds of success (and potential payout) improve if you forego shiny rocks in favor of buying gold and silver mining stocks.

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Will Lumber Futures Shore Up the Stock Market Rally?

July 12, 2024

Today’s analyst meeting was one broken record after another as we ripped through the most important charts on the market.

Not a top, never hit oversold

Not a top, never hit oversold

There’s a raging bull market on Wall Street right now. 

But the fun and games will come to a screeching halt if the following chart rolls over.