Gold Stocks Bear Market? As a goldbug I am hoping this downturn since August is just a correction in a ongoing gold bull market. However this recent crash in the gold stocks where they sliced through major support levels and moving averages is quite concerning and not the typical action of s correction in a bull market.  I read a report dated July 3 from a well respected analyst whose opinion is that we are in a gold bear market which started back in August. He makes some very compelling reasons as to why gold stocks are no longer in a bull phase. I hope he isn't right so I was curious as to what other members think as well as Matt and Steve. 

Gold more oversold than in March 2020 as per picture.  

Platinum taking off, any thoughts Matt or Steve?

SMS Alerts question for Steve or Matt. In the Account section there is the option to enable SMS alerts. However when I try to enable it says I need to sign up for Breakpoints. I am already a member and have been so for quite some time so if there a trick to signing up for SMS alerts let me know. I apologize for posting this non stock question in the room but I first tried reaching out using the contact tab but got no reply. Thanks    

The airlines especially strong today including DAL and Southwest. I know an analyst  at Morgan Stanley recommended them and gave a price target of $54 on Southwest. However I know from past experiences that sometimes when a stock is recommended it will go up that day and then gradually revert back to where it was before the recommendation.   

what does that mean exactly?

Can we PLEASE stop cluttering up this board with talks about the virus and politics. There are tons of other discussion boards for all that. Thanks

I love the daily commentary as its one of the best benefits of this site. Going to one or two a week would defeat the purpose of this site and I would be gone as I suspect others would be. How in the world can someone say these daily charts cause confusion.  If someone doesn't want to listen to all the charts and commentary for each one they can switch from the original player to the new player and listen to what they want to and avoid what they don't want to hear. This suggestion that the daily newsletters cause confusion and conflicting information is one of the craziest things I have read on this blog! If the poster can't understand the daily commentary and gets confused by it sounds like his best bet would be to find another service that is more to his liking.          

I remember back in mid April you said FB was your favorite kind of short and then it was at the $180 level. What makes it look ripe for shorts now in your opinion versus back in April when you thought it was a good short? 

Yes BVN being down 50% since last year while gold has skyrocketed is about the worst under  performance  of any gold stock.  There are reasons for such a sharp decline as they eliminated their dividend, they reported a decline in gold production as Peru has extended their quarantine period which means no mining so any mining is limited to critical activities only.Also several brokerages downgraded the stock and Moodys downgraded BVN to B1 a negative outlook. In addition there has been talk that Peru may nationalize the mines. So as you can see fear in the equity markets has little to do with the bad performance of BVN . Sometimes fundamentals are very good reasons a stock can suddenly under perform.    

Another vote for the old format instead of the video. While the video is interesting It's difficult to read the data on the tables on a computer screen. I like to scroll through charts to what interests me and its very difficult to do that in a video format and hard to know what sections are where.  I do appreciate you trying out new formats now and then as you do a great job with forecasting and giving us a overview of the bigger picture.  

That link you gave to Dr. Brownstein's protocol for beating the virus doesn't work, it goes to 404 errpr, page not found. 

Gold looking negative as people are way too bullish on gold in general and on this site too.  The Gold Miners Bullish Percent Index (see below chart) it is exactly as bullish as it was bearish in mid-March at the very bottom after the biggest decline in stock market history. There are more bulls than they were in July of 2017 after a monster gold stock rally.

Yes you can access your account at TDameritrade,com

It was written by Sylvia Browne who died in 2013.  You can buy the Kindle version on Amazon. Dean Kootz never made that prediction. Sylvia Browne made many  predictions in her book, most of which were outlandish and never came true. She used the 2020 time frame in many of her predictions which did not come true. Below are two pages from her book, one page mentions blindness being cured by 2020, diabetes being cured  starting 2010 and no more invasive surgery done by 2015. The other page is where she wrote about the 2020 respiratory virus but considering the many other predictions she made that would happen around 2020 which haven't happened I would think she was just taking current problems with virus's and projecting them into the future. If the second part of her prediction saying the current virus will suddenly vanish that would be great, but I wouldn't count on it.  

Hayy Dent was extremely bullish in on January 27 in a YouTube video saying the market was going straight up as the smart money was buying and he didn't see a peak until May or June. Others like Matt and Steve on here even in January were warning us of all the negative divergences, etc.    

Interesting SPX chart showing how long it took the market to get to the bottom after a decline of 20% or more in the SPX going back to 1957.  The datapoints could be useful when utilized with other homework+ gameplans. Dead cat bounces to be expected but it looks like we have at least several more months at best to an eventual bottom. 

Great chart, appreciate it. However too bad it only goes back to 1962 as it would be interesting to see how it performed in the 1929 crash which is most comparable to the current crash although even the 1929 crash wasn't as quick or bad as this one. Also none of those selling climaxes in the chart took place against this virus which is causing utter panic, a condition which didn't exist in prior selling climaxes.   

This crash seems worse and faster than the 1929 crash. Looking at GDXJ which continues to decline closing down 26% at 24.67.  On 8/13/2018 gold made a low of 1167. On the same date GDXJ closed at 27.49 much higher than it is now. Unreal and its not the only stock behaving like that. The only other time stocks declined so much and quickly was in 1929. Hopefully we get a relief rally soon maybe tonight.