Wednesday, July 24, 2013

Gold Stocks are Underowned and Oversold but Need Catalyst

June 13, 2011 by · Leave a Comment 

By Jordan Roy-Byrne, CMT, The Daily Gold While Gold is only 2% from all time highs, the gold stocks have struggled and underperformed badly. This is reminiscent of 2008, although we don’t think a similar result is coming. The fact is as QE 2 ends and the failed recovery peaks, money is moving out of risk assets [...]

Gold and Silver Shares Retest of 2010 Breakout Almost Complete

June 2, 2011 by · Leave a Comment 

By Jordan Roy-Byrne, CMT, The Daily Gold At the start of the year we wrote about what we could expect from the gold stocks and juniors over the first half of the year. All of these markets experienced significant multi-year breakouts in late 2010. This year called for a retest of those breakouts before the next advance would [...]

Gold Strengthens in Real Terms

May 27, 2011 by · Leave a Comment 

By Jordan Roy-Byrne, CMT, TheDailyGold My favorite form of technical analysis is intermarket analysis which is the comparison of various markets and sectors. All markets relate in one way or another. The current market cycle is being dominated by macro-related events. Since all markets have had a stronger link than in the past, it makes intermarket analysis [...]

Short Covering not Speculative Buying Led to Silver’s Parabolic Rise

May 20, 2011 by · Leave a Comment 

By Jordan Roy-Byrne, CMT, The Daily Gold Most mainstream pundits and reporters have assumed that it was speculative buying that caused Silver to go parabolic. After all, its always the dumb money or the public that gets in at the very end. However, in futures markets, parabolic moves are often the result of short squeezes. This is [...]

Gold Stocks Stuck in Consolidation

May 12, 2011 by · Leave a Comment 

By Jordan Roy-Byrne, CMT, The Daily Gold Though Gold and Silver were able to make new highs in recent months, the gold stocks (as evidenced by GDX (large caps) and GDXJ (larger juniors) never did. We wrote of their relative weakness and how it was a warning sign for the sector. The shares failed to breakout and [...]

Why Gold Stocks are Struggling Despite Record Gold Price

April 19, 2011 by · Leave a Comment 

By Jordan Roy-Byrne, CMT, The Daily Gold Gold looks fantastic. It is breaking away from a consolidation which could be called a running correction. Two weeks ago Gold broke to a new high. Last week Gold retested the breakout and then advanced to another new high at the end of the week. Its textbook bullish action. Yet [...]

Gold Breakout and Silver Going Parabolic

April 7, 2011 by · Leave a Comment 

By Jordan Roy-Byrne, CMT, The Daily Gold We obviously have been too cautious on Silver. The metal has been on a tear and has shown no weakness in the past few weeks. Our upside targets were $37 and $39. A clean break of $39, which seems imminent will send the market to $45 and possibly $50. Monday [...]

Here’s Your Guide To Debunking Gold Bears

March 29, 2011 by · Leave a Comment 

By Jordan Roy-Byrne, CMT, The Daily Gold In this missive we reply to the supposed reasons against investing in Gold. Point: If you bought Gold in 1980, you were in the red for many years. In only two and a half months, Gold went from $400/oz to over $850/oz. Gold really began to takeoff in the second [...]

Gold Stock Seasonality

March 23, 2011 by · Leave a Comment 

By Jordan Roy-Byrne, CMT, The Daily Gold Many analysts focus on the seasonality of Gold and Silver. Why? It plays out most of the time. The metals tend to peak in the late spring and then bottom in the early summer before moving into the sweet spot of the year. When researching seasonality, I came across this [...]

Bifurcation in Precious Metals Complex and the Implications

March 8, 2011 by · Leave a Comment 

By Jordan Roy-Byrne, CMT, The Daily Gold Silver has been red hot lately and the silver shares have joined in the fun. Yet, we haven’t seen a corresponding breakout in Gold or in the gold shares (as evidenced by GDXJ and GDX). In the chart below we show SIL (large silver stocks), Silver, Gold, GDXJ (gold juniors) [...]

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