Tim Ord: GDX Breaking Above $31 is the Biggest Bull Signal of the Year

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Tom welcomes back veteran investor Tim Ord, and he is the President, Editor, and Publisher of the Ord-Oracle.com. Tim finds similarities in the current market to the 2008 period. The VIX is an excellent leading indicator for the markets right now. He expects a re-test of the March lows, although be believes that 90% of the decline has occurred.

Once the bottom is in, different sectors will shine, particularly gold, gold stocks, and silver. For silver, the RSI is indicating that we should be headed for a new bull cycle.

GDX is breaking above $31 on the weekly chart, which breaks a seven-year trend line, and that is a powerful signal.

http://ord-oracle.com
Twitter: @OrdOracle

Time Stamp References:
0:40 - Similarities to 2008
2:20 - Final lows are not quite in yet.
4:20 - Sectors to watch for gold/silver.
6:00 - VIX and the S&P 500
8:30 - Cycle theories with gold.
11:00 - GDX and a 7-year breakout.

#PalisadeRadio #TimOrd @OrdOracle #Gold