Looks like a Gold Daily Cycle Top

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This is a daily chart of the World Gold Index (XGLD) spanning the timeframe of the previous intermediate gold cyle begun July 28 to our present day. 
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Click on the chart to ENLARGE
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Yesterday gold reached $1441 and appears to have peaked on day 22 of the current daily cycle. 
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The first daily cycle of the previous intermediate cycle was only 19 days and concluded with a very brief touch of the 20 dma.  The following daily cycle concluded in 25 days with again, a very brief touch of the 20 dma.
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If the current daily cycle were to conclude in similar fashion, with a touch of the 20 dma, price would likely fall to somewhere around $1385-1395.  And likely bounce right back up off that price level.
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So perhaps we get a vicious spike that acts like a bolt of lightening (ala 9/28/10) or it takes a few more days to saunter lower, the next daily cycle should be starting shortly thereafter and take us to new all time highs.

Sold BAA - $3.60 Buy SVM - $14.10

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I made two trades today, a buy and a sell.
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This is a 4 hour chart of Banro Corporation (BAA) which I sold at $3.60 per the price I had set in Tomorrow's Trades (Today!).
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Click on a chart to ENLARGE

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And this was my purchase of Silvercorp Metals Inc (SVM) at $14.10...also per the price I had set in Tomorrow's Trades (Today!).
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The big winner today was US Silver - up 14.10%.  I tried and tried to get an accepted order before the market opened today for USSIF and for some reason my broker's continual message was something like "this trade can only be closed".  What is that all about?
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Oh well.  Silvercorp should work out just fine.
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My TSI Trading record has been updated.

8 Miners Whose Overhead Resistance Has VANISHED

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I have been looking forward to writing this post for some time now.  I knew (believed) this day would come and it is finally here.
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As gold and silver have now made new all time highs, the list of miners also making new all time highs is just beginning to take shape.  I expect this list will grow considerably over the next couple of months, but here are the early leaders in the race for reaching heights never before seen.
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Indeed, this present list would be longer if I included miners with short track records.  But I wanted to show you those miners that have labored long and hard to get where they are today.

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The standout ETF is Proshares Ultra Silver (AGQ) and for those unfamiliar with this product, it is an ETF that is leveraged to perform twice the price movement of the silver metal itself.
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Click on any chart to ENLARGE
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In alphabetical order, here are the 8 miners that presently have absolutely no overhead resistance. The earnings data included was assimulated from Bill Matlack's March 1 report published by Kitco.

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1. Allied Nevada Gold Corp (ANV)
2010 .28
2011E .51
2012E .87

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2. Claude Resources Inc (CGR)
2010 .10
2011E .19
2012E .24

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3. Endeavor Silver Corp (EXK)
2010 .08
2011E .36
2012E .41

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4. Iamgold Corp (IAM)
2010 .76
2011E 1.38
2012E 1.30

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5. Paramount Gold Mining Corp (PZG)
2010 .28
2011E (.03)
2012E --

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6. Richmont Mines Inc (RIC)
2010 .31
2011E .61
2012E .73

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7. Silver Wheaton Corp (SLW)
2010 .75
2011E 1.61
2912E 1.61

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8. Silvercorp Metals Incorporated (SVM)
2010 .37
2011E .44
2012E .82






My TSI Trading record.

Also, Tomorrow's Trades (Today!).

BUY ANO - $1.34

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I made just one purchase today.  This is a daily chart of Anooraq Resources (ANO) which I bought for $1.34.  Platinum has rebounded considerably since it got slugged in the gut a week ago - yet curiously the platinum mining stocks have lagged.  Perhaps not for long, I hope.
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Click on the chart to ENLARGE
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This chart does have a nice trend line break on both the True Strength Index (TSI) and Money Flow Index (MFI) indicator.
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My TSI Trading record has been updated.
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The page with Tomorrow's Trades (Today!) has been updated.
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3 of the first 8 trades have closed for a cumulative gain of 16.01% and average of 2 days per trade.
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Sold CDE premarket - $31.75

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I had a sell limit order in place for my shares of Coeur D'alene Mines Corp (CDE) at $31.75 which was taken out in this morning's pre-market activity.
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Click on the chart to ENLARGE
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Overnight the US Dollar made a fresh new low (76.76), though at the moment is rebounding somewhat.  Gold inched higher reaching 1422.1, a new recent high and a clear break above the downsloping trend line extending from the all time high of 1432.5.  Silver is making all time highs at 34.475.  Platinum, palladium and copper have each advanced strongly overnight as well.  The weakness in the US Dollar is becomming more and more inevitable as it has fallen below its previous daily cycle low and the rocket launch for the precious metal complex is just getting started.
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My TSI Trading record has been updated.

Sold BRD - $1.62 and RIC $5.54

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I sold a couple of positions today.  This first daily chart is of Brigus Gold Corp (BRD) which I sold today at $1.62 for a quick 5.9% gain.
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Click on any chart to ENLARGE

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My other sale today was of a position I have had for some time in Richmont Mines (RIC) for $5.54.
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My TSI Trading record has been updated.

Gold and Silver: Right Up to the Line

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Traders on Friday left gold and silver firmly nudged up against down sloping price trend lines, suggesting a breakout of significant magnitude could be in the offing early next week.
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Click on any chart to ENLARGE
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This first chart is the continuous contract of daily gold (/GC).  The December and early January highs have created the trend line that gold has now spent most of the previous 4 days consolidating just beneath. 

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A little closer look at this consolidation is offered by this second chart of the continuous contract of hourly gold (/GC).  Even the True Strength Index (TSI) indicator was left in suspense for the weekend - as it appeared ready and anxious to bust higher through its down sloping trend line.

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Traders also left for the weekend with silver coiled for a major break.  This hourly chart of the continuous contract of hourly silver (/SI) makes clear that the silver bulls are ready to takeover at a moment's notice.
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Copper, palladium and platinum took a beating early in the week but bounced back sharply by Friday, seemingly in agreement with the price action of gold and silver.  Next week could offer the resumption of strong price appreciation for the precious metals and their miners.  Let us hope!
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My TSI Trading record has been updated.
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Tomorrow's Trades (Today!) has been updated for Monday Feb. 28.