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Commentaries & market updates.

The Market Field – August Update – Equities & Gold

The Market Field – August Update – Equities & Gold

The below is the Bullish Percent Index for the NYSE. 
State: Bull Confirmed

  • Update August:  The BPI is still Bull Confirmed 
  • Update July:  My last market overview commentary on the NYSE was in April 2012.  At that time the BPI for the NYSE was Bear Alert and I advised being on the sidelines.  The NYSE peaked out at that time at 8300 around that time.  Since then the index sold off to 7300. 
  • We are in a column of X’s and Bull Confirmed.  Because the market is Bull Confirmed and not in an oversold area above 70, odds favour stronger markets and Offense should be on Field.
  • Strategy:  It is a good time to run plays on the long side, buy stocks.


The below is the Bullish Percent Index(BPI) for the Gold Miners.
State: Bull Confirmed

  • Because the Gold Miners index is made up of fewer stocks, it is more volatile and the range could reach 0% or 100%. The Gold Miners BPI is Bear Confirmed, and as such could remain in this state for a period of time. Because the index is below 30% and at 10%, it is deep in the green zone, it can be considered oversold. 
  • Update: Since July we have moved from Bull Alert to Bull Confirmed.  Because the market is Bull Confirmed, odds favour stronger markets and Offense should be on Field.   Valuations are showing great promise and pointing higher. 
  • Strategy:  It is a good time to run plays on the long side.  Buy precious metal producers or royalty companies.  It is ok to have full positions.

 

To start investing today, please give me (Edgar Burton) a call: 416.479.8995 or 1.888.216.9779 or send me a note at edgar.burton@europac.ca

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