Sunday, January 19, 2014

Knocking on Heavens Door

Well gold and silver performed per the technical picture they showed last week.  Gold is now at a short term double top and overbought, same with NUGT.  My view is at worse we get a pause that refreshes, then to the next levels higher in the metals and miners.  Check this chart out from Zero Hedge.  Talk about risk.

I am watching energy, oil and drillers with increasing interest.  We are coming into the high season for oil, and last weeks big candle higher is a shot across the bow.  After this consolidation, I am looking for an assault on the recent highs.

Also, the portfolio is doing well, and am slipping more and more bearish until I see another buy signal on the broad indices.

Here are some charts with my comments.  Enjoy.

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