Which ones? All of them.
Why? They are hyper-extended, registering prints > 2.0 Standard Deviations for a number of critical cycle means.
Is this good for gold? It’s GREAT for gold, as banks trade inversely with gold.
So not only is the dollar under pressure, but banks are vulnerable.
Hence, the odds of a good move in gold are improving daily. How big a move is open to debate.
Here’s what I said to my friend Mark earlier in the week:
Gold is still range-bound. It has charted the longest, narrowest (percentage-wise) low-bias range since a span from January 1994-1996, which was capped by a month-long push higher to a 2/2/96 peak, followed by a crash to 250 in July 1999. The fundamental difference today is the dollar, which is topping, when in 1996, it was primed for a ferocious rally to 2002. So you see, there are a lot of stars aligned for gold and silver, including increasing long-term rates.
Stars are aligned. That being said, dark forces are at work in the world, so I will be trading defensively and actively.
Where are the edges?
A lot of gold and silver stocks are off their best edges, but a few statistically significant opportunities remain: DRD, GAU, HCHDF, IAG, PAAS, PZG, SVM, and USAS, to name a handful.
Good luck!
