SKI Public Update 3/3/24
SKI Report #296 “Gold Stock Update”
Jeffrey M. Kern, Ph.D. March 3, 2024
Current USERX price = 9.03, Down 45 cents (4.7%) since the last report 6 weeks ago.
New Material
My last public presentation was on January 29, 2024 and was delayed due to a sudden hip replacement. I needed to devote my limited time to subscribers.
That presentation has indicated a long position on 1/25/24 at USERX 9.48. I could take that long position (after having sold in December) because we had a 218-222 buy signal that provided a quick sell-stop. I provided some indication of the rising sell stop and noted that the rising sell-stop would sell in 6 trading days if USERX didn’t rise to 9.78.
The quick sell signal was generated in 6 trading days as USERX declined on 2/02/24. Therefore, we had no indication of bullishness even as gold declined and began to rise on 2/14/24. The gold stocks were suggesting that the only index that was left on a buy was to be tested on the downside. That’s the very important 92-96 index.
Last week, the 92-96 index began to be tested! On Tuesday (2/27/24), USERX declined to 8.68 and fell below 1 of the index’s 5 back prices. On Wednesday (at 8.59) the index fell to again the index. That continued on Thursday at 8.70.
Is that an intermediate low in the gold stocks? If there’s an actual 92-96 index sell signal, we’d have the opportunity to get an important new 92-96 buy signal.
Best Wishes, Jeff
Comments by readers in support of Dr. Kern's medical condition are most definitely welcome at this time.
Dr. Kern's introductory history is found here.
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Jeffrey M. Kern, Ph.D., is an academic psychologist with a specialty in the measurement and prediction of human behavior. The communications provided are for informational purposes only and are not intended to be investment advice or recommendations for specific investment decisions. Dr. Kern is not a registered investment advisor. The information provided is considered accurate, but cannot be guaranteed. Investments/trading in narrow market segments or gold futures are for individuals willing to accept a higher level of risk for the opportunity of greater returns. Past performance is no guarantee of future performance.
I am so very sorry to hear about Jeff's medical condition. Prayers and best wishes to you and your family, Dr. Kern.
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