Professor’s Comments 12/29/16 Gold/Mining Stocks

Posted by OMS  at December 29th, 2016

Even thought the market is basically flat today, a few things of significance have happened. The first is that the Money Flow indicators on GLD have turned positive. So now, both the VTI and Money Flow indicators on GLD are positive. In other words, a Buy Signal has been generated on gold. This Buy Signal assumes that the indicators will finish the day as they are now, in positive territory.

Supporting this Buy Signal is the fact that the VTI on UUP has turned negative. This is the first time that the VTI on UUP has been negative since early December.

Because of this change, I will now start looking for entry points in many of the mining stocks and ETFs I follow.

That’s what I’m doing,

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