Monday, July 11, 2016

Elazar Buy Rating For Gold: And Our New TINA Rating $Gld

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*We were very impressed with gold's action after the jobs report.
*We wrote that gold is for all markets recently.
*Friday was only one day but another lovely confirmation of something underlying in gold.
*This report includes one short diatribe about our new TINA rating, a must for Elazar followers.
Friday's jobs report showed upside to economic forecasts. That should be the type of report that see investors toss out all safety hedges like gold. Gold went higher, yet again, no matter what. Gold gets the official, "No matter what" rating.
Let's start with a gold chart. Here's gold.
Gold is in red and green and the S&P 500 ETF (NYSEARCA:SPY) is in blue. Whether SPY went up or down gold continued to charge higher. We love this chart. We love how gold is acting. Love.
We went bullish on gold just ahead of Brexit (June 20th). On July 5th we wrote about it again because we were just so impressed with its "up in any market" action. It continues. That is something very special.
Friday's News Good For Gold? Not really, up anyway.
A good economic number should be good for gold but we would have expected it to sell off. We would have thought there would be imminent expectations for a rate hike.

Chaim Siegel has been working with hedge funds and mutual funds as an analyst and PM his entire career. Chaim specializes in earnings and predicts, analyzes and reacts to earnings and earnings events as well as developing current company stories with a hedge fund perspective. If you want his analysis real time sign up to the right for real time email alerts. #in, $spy, $qqq, $iwm, $vxx, $ycs, $fxe, $EUO, $YCS, ^GSPC, INDEXSP:.INX, #elazaradvisorsllc, CME Globex: ES Disclosure: These trades can lose you money and principal especially when using leverage BY USING THIS SITE YOU AGREE TO TAKE ALL RESPONSIBILITY FOR YOUR OUTCOMES AND LOSSES AND HOLD BESTIDEAS, ITS CONTRIBUTORS AND ELAZAR ADVISORS, LLC HARMLESS

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