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gj0201

4,304 Posts.

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28/04/17

08:38

Post #: 24317262
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Originally posted by paddington bear ↑

Very little change across markets overnight. I hate these types of sessions as it is so hard to put it all together. The nine ETF’s that make up the bulk of the US market are giving such mixed signals. Some look as though they are ready to continue higher but others appear to be looking at the gaps they left last week and whether these gaps should be filled. Going to have to give it a bit more time.

Palladium higher again and silver has slipped quietly back to support which is really starting to look interesting. Again need time.

Iron ore prices haven’t done much this week but at the moment it is right on its downtrend. It would only take a small uptick to break topside and we could have a decent rally. Been a fabulous chart for the last year or so but at the moment I am only really thinking in terms of rallies – needs time to build the pattern further to make any further longer term predictions.

XJO has now crept up for five days in a row. Don’t like little up days. So we need a correction. Been mainly banks anyway which are all getting a bit extended. The overseas selling in our mid cap golds did ease off yesterday after the huge volume the previous day. Keeping track of what the overseas funds are doing in our stocks is a complete subject on its own and often has absolutely nothing to do with what the actual gold price is doing. Just one thing to keep in mind for the long term is that international fund managers (and here as well) have only the smallest percentage of the overall funds in gold related investments and if gold does break it downtrend, I hate to think what could happen if they all suddenly decide to take a position commensurate with their funds under management.

On the subject of fund managers, my Geniuses have managed to get themselves into the market over the last week and are now up to 90% invested so they have spent quite a bit of the funds they had on the sidelines. This does probably increase the odds that the New York market can come off further before having another go at the highs. As I said above, I hate these periods when things are so finely balanced.

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@paddington bear Would you mind listing, "The nine ETF’s that make up the bulk of the US market ...." for me to follow? Any others that you follow and of note appreciated too?

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