Here is the key to the rally in the gold and silver markets, plus a bonus gift.
The following charts are from Jason Goepfert at SentimenTrader.
King World News note: Below you can see the commercial hedgers position in the Canadian dollar. Note that commercial hedgers are now net long the Canadian dollar once again (see 3-year chart below).
King World News note: Below you can see the commercial hedgers position in the U.S. dollar. Note that commercial hedgers have continued to dramatically increase their short positions on the recent rally in theU.S. dollar (see 10-year chart below).
King World News note: Turning to the mining shares, it is fascinating that there has been continued accumulation of the mining shares through GDX, despite the recent, sharp plunge in share prices (see 10-year chart below).
King World News note: Regarding the commercial positioning in the Canadian dollar, U.S. dollar, and institutional fund flows into GDX, this is the type of behavior you would expect to see during a secular bull market advance…
IMPORTANT:
To hear which legend just spoke with KWN about $8,000 gold and the coming mania in the
gold, silver, and mining shares markets CLICK HERE OR ON THE IMAGE BELOW.
For those of you who are continuing to accumulate shares in high-quality mining companies, use the smashes to add shares to your portfolio.
A Surprising Gift From The Central Planners
One high-quality company in the silver space is First Majestic Silver, symbol FR in Canada and AG in the United States. As you can see from First Majestic’s chart below priced in Canadian dollars at $11.17 ($8.38 in U.S. dollars), FR is now the most oversold in history on a weekly basis. This does not mean that the stock cannot continue to see weakness, but it does offer a low risk entry point from a longer-term perspective.
During secular bull markets you are supposed to buy the big smashes and First Majestic has seen a staggering 60 percent of its market cap destroyed in just the past few weeks. And First Majestic is definitely one of the high-quality companies in the silver space, led by a legend in the business, Keith Neumeyer.
The charts above are from SentimenTrader. To try a free 14-day trial of the internationally acclaimed work that Jason Goepfert produces at SentimenTrader simply CLICK HERE.
***KWN has now released the powerful audio interview with Bill Fleckenstein discussing the “cold fusion” solution that is now being proposed in a world that is already drowning in monetary madness, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO RELEASED: James Turk – Silver Will Skyrocket From Its Huge Multi-Decade Base And Cup & Handle CLICK HERE.
***KWN has also released the remarkable audio interview with Jean-Marie Eveillard, the man who helps oversee $90 billion, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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