Tuesday, November 22, 2016

Jojo does gold dooooom

Jordan Roy-Byrne - say goodbye to the gold bull market. Quote:

Unless gold and gold stocks hold current levels and form an important low then the 2016 bull market has gone off course. At present, the evidence favors the bearish scenario which has the sector trading lower in the months ahead. We could chalk this up to a fundamental change (which I consider to be temporary) coupled with the potential for a spike in the US Dollar. Investors are advised to de-risk their portfolios during the coming rebound and prepare for a better buying opportunity at the end of winter.

Can't really argue against the chart. Question is whether you want to short gold stocks, or just do the standard thing this time of year and go long NASDAQ into Xmas.

I'd add, btw, that gold and the miners don't even have to go up after an upcoming low.

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