Rok-n-Dan's Market and Sector Analysis with Fidelity Select Sector Funds

Dan Caldwell Has Had Over 25 Followers Rank: 34 Followers: 37 Votes: 21 Years Member: 11 Last Update: 28 August 2014, 19:02 Categories: General Market Commentary
Gold / Gold Stocks
Chart Patterns

4/15/14: Market thoughts: Quick out-of-the box observation - even tho the Russell 2000 (RUT) is breaking below its 200 day MA, the TWM is losing momentum. That tells me that big money is already cashing in on this play. (They could be wrong, but it's worth paying attention to). Also, in spite of a knock down in gold mining stocks at the open, the P&F BP's are trending up - - hedge funds taking advantage of the sale price to accumulate??

Of worthy interest to gold bulls is that even as the price of miners and metals decline, insider buying continues to pick up. Big demand for physical delivery; US Mint sold more bullion in first three months of 2013 than in 6 mo. of.2012, with accumulation by High Net Worth investors. and 3rd world Central Bank buying. Chinese gold imports through Hong Kong were up 89% last year, 1,113 metric tons imported. in 2014, absorbing 50% of total global mine production. Gold is NOT about USA or European demand; it's all about Chinese, Indian, and Middle Eastern demand. They want to own the metal and at today's depressed prices demand continues to robust.

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$SPX - S&P 500 Fibonachi

00 Bonds (TLT) vs S&P500

00 CBOE Options Equity Put/Call Ratio ($CPCE)

00 NYSE Percent of Stocks Above 50 Day Moving Average

00 Russell 2000 2x UltraShort (TWM) Daily

000 UltraShort Russell 2000 Fund (TWM) Weekly

0000 NYSE Bullish Percent Index ($BPNYA)

6/24/11 NEW CHART. The Bullish Percents (BP's) are flashing oversold signals but have not yet made the turn, so holding cash is still the prefered option. Agressive traders who have been short may want to take some profits off the table. As Q2 window dressing winds down next week I expect hedge, pension, and mutual funds to take profits and reverse positions heading into the start of Q3.

00000 10 yr. Wilshire 5000 Composite Index

00000 Financials Select Sector SPDR (XLF)

00000 NYSE Composite Index/Euro Index ($NYA:$XEU)

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