• Investing
  • Stock
  • Economy
BigMoneyHall.com – Investing and Stock News
  • Editor’s Pick
  • Latest News
Stock

Are You Invested in Precious Metals Yet?

by January 26, 2023
by January 26, 2023

I personally started out this year saying that, to date, gold has been sold on strength and bought on weakness. And that the day strength is bought is the day we begin a much bigger rally.

A Few Gold Headlines:

Gold prices hit record high in JapanChina steps up gold imports in 2022: Swiss gold imports at 4-year highs, Russia gold imports riseSwiss pension fund increases exposure to gold

Every time we look at the price of gold, we take one step closer to realizing our prediction of the $3000-$3500 price target by 2024 and not ruling out a trip to $5000 by 2025.

Yes, gold is overbought at current levels. Yet, haven’t you heard the expression, “Overbought can become more overbought?” Of course you have. However, not for some time. Probably not since the huge bull run of 2021–and of course, as it related to equities.

Dear readers, we were primarily commodity floor traders for 2 decades. We are presently bullish in the metals. We have been hammering this home since post-COVID.

Now, though, we see a new phase, a parabolic one.

Back in the day on the COMEX Exchange in the World Trade Center, pre-social media, pre 24-hour news loops, and pre-“everyone is a trading genius at least once in their lives”, in the late 1970s, floor traders bought dips in gold and silver. Local traders did not concern themselves with calling corrections or tops. We were there to trade price and momentum.

Now, after a very long wait, those days in the metals have returned.

With proper risk management ALWAYS, dip buying on corrections appears to make a lot of sense. Other than a very rich relative strength indicator, we see little in the way of a top at this point. The landscape mimics (on steroids) the 1970s. We believe, with current macroeconomic and geopolitical conditions such as they are, 2023 is even more bullish for the metals than it was five decades ago.

Silver is not far behind.

Retail investors have yet to load up on precious metals. Most are trained to buy equities and know little about commodities.

Right now, retail investors sway bullish in stocks. Once metals gain more of the retail traders’ attentions, can I get a P-A-R-A-B-O-L-I-C?

Mish’s Picks are already up 10-20% outperforming the SPY!

Want to take advantage of her stellar track record and ensure a profitable trading year? For more detailed trading information, contact Rob Quinn, our Chief Strategy Consultant, to learn more about Mish’s Premium trading service.

You don’t want to miss Mish’s 2023 Market Outlook, E-available now!

Click here if you’d like a complimentary copy of Mish’s 2023 Market Outlook E-Book in your inbox.

“I grew my money tree and so can you!” – Mish Schneider

Get your copy of Plant Your Money Tree: A Guide to Growing Your Wealth and a special bonus here.

Follow Mish on Twitter @marketminute for stock picks and more. Follow Mish on Instagram (mishschneider) for daily morning videos. To see updated media clips, click here.

Mish in the Media

Catch Mish January 26th on Fox Business’ Making Money with Charles Payne and on TheStreet.com!

In this appearance on CMC Markets, Mish digs into her favourite commodity trades for the week and gives her technical take on where the trading opportunities for Gold, oil, copper, silver and sugar are.

Mish gives her thoughts on the big NYSE glitch on Tuesday, January 24 on this appearance for BNN Bloomberg!

Mish discusses the continued bull case for commodities and why the SPY will remain in a trading range in this appearance on Business First AM.

Mish maps out why gold is still the shiniest in this appearance on Making Money with Charles Payne!

In Singapore, Mish discusses China and whether the markets are bottoming or going lower from here on CNBC Asia.

In StockCharts TV’s Charting Forward 2023, Mish sits down with a round table panel of experts for an open discussion about the things they are seeing in, and hearing about, the markets.

You can also read Mish’s Charting Forward thoughts in article form here!

ETF Summary

S&P 500 (SPY): SPY has crossed the 200-DMA and is now slightly above it, but is still a very narrow price range below to 50-DMA. Held pivotal support and now what was resistance is support at the 200-DMA and resistance is 405 overhead still.Russell 2000 (IWM): Filled the gap and continued to hold the 200-DMA and overhead resistance at 189.Dow (DIA): Back over the 50-DMA by a hair. Holding support at the 50-DMA at 336.07 and 339 is resistance.Nasdaq (QQQ): Crossed the 50-DMA on Friday to close above. First level of resistance is at the 200-DMA and closing in the middle of the two DMAs.Regional banks (KRE): Close to crossing 60.72 (50-DMA). First level of support is 58 and resistance is 50-DMA.Semiconductors (SMH): Still holding key support easily at the 50-WMA and 200-WMA. 233 support and 239 resistance.Transportation (IYT): Still holding 225 key support here and now holding first level of support; holding 227, closing 227.94 with resistance at 230. Biotechnology (IBB): Still the best sector, with 132 key support still holding and holding first level of support at 134, with 137 resistance still (closed 136.79).Retail (XRT): Holding pivotal support at 63. First level of support at 66, resistance 70.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

0 comment
0
FacebookTwitterPinterestEmail

previous post
Poor Natural Gas
next post
GNG TV: Airlines, Casinos, & Luxury… Oh My!

Related Posts

What are the Equity Market’s Positive Signs?

January 31, 2023

January’s Performance: A Good Start for 2023?

January 31, 2023

Sector Spotlight: Sector Rotation Out of Defense

January 31, 2023

What are the Equity Market’s Warning Signs?

January 31, 2023

The Halftime Show: Sharing “Secret” Chaikin Lists

January 30, 2023

DP Trading Room: New Golden & Silver Cross...

January 30, 2023

Bears Are Waking Up to the Fact They’ve...

January 30, 2023

Some Classical Technical Developments Shaping Up As Volatile...

January 29, 2023

The SPY Knocks on the Door of Resistance

January 29, 2023

Ready, Set, COVER! Breakouts Are A Short Seller’s...

January 28, 2023
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Recent Posts

  • Vermont weighing legal protections for providers of abortion, trans procedures

    February 1, 2023
  • ‘Anti-religious bigotry’: Nebraska Dem’s amdt. would ban kids from vacation Bible schools, church youth groups

    February 1, 2023
  • Virginia bill would ban transgender athletes from women’s sports

    February 1, 2023
  • Pennsylvania Democrats endorse Philly appellate judge for state Supreme Court seat

    February 1, 2023
  • How a group of Democrats and Republicans could bypass McCarthy and lift the debt ceiling

    February 1, 2023
  • Maine Gov. Mills to give budget address on Valentine’s Day

    February 1, 2023

Editors’ Picks

  • 1

    New Mexico top prosecutor shifts focus to addressing child civil rights

    January 16, 2023
  • 2

    Democrat leadership leaves Adam Schiff hanging on call for intelligence assessment of Biden’s classified docs

    January 16, 2023
  • 3

    Noem blocks South Dakota business with certain companies owned or controlled by ‘evil foreign governments’

    January 20, 2023
  • 4

    Group backing Ron DeSantis to spend $3.3M to make him the Republican nominee over Donald Trump in 2024: report

    January 19, 2023
  • 5

    New York City Mayor Eric Adams demands ‘national czar’ for migrant surge, a role VP Kamala Harris already has

    January 18, 2023
  • 6

    Ticketmaster’s day in Congress met with bipartisan ‘bad blood’ and more Taylor Swift puns from senators

    January 26, 2023
  • 7

    Schiff, Swalwell, Omar respond after Speaker McCarthy keeps them off committees: ‘Political vengeance’

    January 25, 2023

Categories

  • Economy (13)
  • Editor's Pick (16)
  • Investing (13)
  • Latest News (409)
  • Stock (62)

Latest News

  • Biden seen holding ‘classified document’ in resurfaced 2013 photo

    January 18, 2023
  • Deaf Michigan man appears to win Supreme Court’s sympathy as arguments begin

    January 19, 2023
  • Gun rights group files lawsuit over Illinois assault weapons ban

    January 18, 2023

Investing News

  • Border Patrol union rips Kamala Harris’ handling of border crisis: ‘you should be fired’

    January 18, 2023
  • Group backing Ron DeSantis to spend $3.3M to make him the Republican nominee over Donald Trump in 2024: report

    January 19, 2023
  • Virginia residents reject massive solar farm plan for third time over environmental concerns

    January 20, 2023
  • About Us
  • Contacts
  • Email Whitelisting
  • Privacy Policy
  • Terms and Conditions

Disclaimer: BigMoneyHall.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2023 BigMoneyHall.com. All Rights Reserved.

BigMoneyHall.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
BigMoneyHall.com – Investing and Stock News
  • Editor’s Pick
  • Latest News
BigMoneyHall.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
BigMoneyHall.com – Investing and Stock News
  • Editor’s Pick
  • Latest News

Disclaimer: BigMoneyHall.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2023 BigMoneyHall.com. All Rights Reserved.

Read alsox

Going, Going, Gone: End of Week Themes...

January 16, 2023

Follow Key Earnings Reports this Season with...

January 16, 2023

2023 Stock Market Forecast: Where’s the Strength?

January 19, 2023