Gary Savage
Gary Savage Articles
I previously said one doesn’t need to chase the rally during the second leg, because any gains would not be sustainable and would subsequently be given back.
So far gold has done exactly as I predicted. The minute the dollar bottomed, gold topped. I think this is a good time for Old Turkeys to place a hedge on their metals positions.
I like the odds that Friday marked the bottom of the daily cycle and half intermediate cycle decline. The next daily cycle should be right translated as well and rally at least into the second week of June before the market starts to get...
As is always the case at these major turning points, the usual analysts are going to get it wrong again. The dollar is finishing an intermediate cycle decline, not starting one.
Regression to the mean. There is one universal law in this business and it never, never gets broken. Price always regresses to the mean. This one is like death and taxes. It is never violated. And the further price stretches in one...
Gold is in the final phase of the baby bull rally. This is the stage that causes maximum pain for shorts that were unable to recognize that the bear market is over, or tried to sell short (I warned and warned traders not to short a baby...
What a difference a couple of months makes! Several months ago everyone was convinced that stocks were starting a protracted bear market. Many expected it to be even worse than the last one in 2008/09.
A gold correction is coming. As long as you aren’t holding Old Turkey (see below) then the correct strategy is to wait patiently for gold to produce the next intermediate cycle low. Buying now is too risky, and it forces one to time a...
Today I want to address the nonsense I've been reading elsewhere that the technicals are indicating that gold is still in a bear market. Nothing could be further from the truth. First, let me dispel the idea that somehow the mining stocks...
As always happens after a strong rally in anything, traders begin to anticipate another leg up. They buy the first corrective move back down because they missed the initial rally, and they don’t want to miss the next one. This is the...
