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Thursday, August 27, 2026

NVIDIA, Metals, Miners, and Energy Stocks in Focus

NVIDIA building support at a key level before the breakout, was an easy read. 

Yesterday's pivot out of Energy (over the past week), and Gold (over the past 2 days) is - in hindsight - absolutely glaring, as NVIDIA ($NVDA) leads the tech heavy $SPX higher - after last night's blow-out earnings. This morning's read in pre-market:   

They're also raising money in order to buy the Anthropic IPO - as soon as Sept. What better way to raise cash than to drive worthless sectors into a short squeeze, before dumping them again?    

Metals Gold Silver Platinum Copper - spoiler - copper crashing  

Gold is set to snap back on tomorrow's Jackson Hole statement. Think of Gold as the scaredy-cat trade for Trump haters. They don't like the Bessent (Treasury), or the Warsh led Fed, SpaceX (for obvious reasons), or INTEL, or anything else being subsidized by the Trump administration. Instead they love gold, as they pray for a weaker dollar, and higher yields.  

Gold always rallies on a fed statement - and the charts agree:

1. First screenshot shows gold bouncing out of a downturned wedge, or triangle pattern, 

2. The chart action shows gold quietly consolidating (lower) in a range: 


Gold Miners Continue to be Heavily Pumped: You may have seen the following article highlighted in the @3Xtraders timeline: 

That's the same retread (story) they tried to sell retail investors back in July 2025. The idea that gold miners need to play catch up to Gold, because the miners lag... ignoring the fact that a producer isn't a precious metal. It's like comparing apples to apple tree seedlings. A bird in the hand is worth 2 in the bush, and an ounce of gold in your hand is worth 450 shares of $GDX, because it costs a lot of money to get gold out of the ground. Don't count your chickens, before they hatch.😅   

The Truth is the gold miners are so thinly traded - even more so than even energy - that manipulating the $GDX, and the $GDXJ is like child's play, for the greedy hedge funds, and publishing shady articles to lure unsuspecting investors into another bad trade, costs little, to nothing.   

Newmont $NEM Becomes The One To Watch 

Looks to me like the pump is over, minus another bounce on Warsh's Jackson Hole speech. 

P.S.  Traders are returning to their desks after the summer break, and it shows: Volume is picking up and that helps make trading more predictable. Pump 'n' dump gold, crypto, and pull the rug on the energy rally - all par for the course. Crypto pumped with Gold miners is the same rotation retread we saw in 2025. Word to the wise. 

P.P.S. I'm no longer hiding out in Treasuries, but only because I got bored with such tiny gains.  

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Saturday, August 22, 2026

The Breakout: First Gold Then Bitcoin - Double Whammy

The breakout in gold, and gold miners was no surprise - after watching it consolidate in a downturned triangle for most of the summer. The breakout of the pattern was followed by several more important technical signals, on August 10th. 

1.

2. 

 3. 8/22 Today Saturday -  Gold still has room to run.             


What I didn't see coming, was the perfectly scripted narrative:

  • "Yield driven sell-off in Equities" - with the $VIX trading below 16? I don't think so. 
  •  National Debt reaches $40 Trillion (headline grabbing round number) 
  • Treasury's failed attempt to sooth the bond market - a Gloomberg favorite! 

But first came an article published by Barons - pumping not gold but the gold bugs' favorite ETF the $GDX (Gold Miners), just as money started fleeing US markets (again). Yep, it's the return of the rotation trade that Mike Wilson helped coordinate... Remember he specifically mentioned gold miners. 

Tweet August 6th 

What I believe happened is the rotation into the Dow came to an abrupt end, and the rotation did a hard left back into gold and gold miners, but also, after the S. Korean chip rally was vacated, the Bank of S. Korea signaled a pivot into gold. Look, BOK buying physical gold isn't a strategy, it's a hostage video. Above my paygrade.   

The Rotation The Talking Heads Finally Copped To - Energy: That's the kiss of death. 

The other new all time high that's already begun to unwind. Healthcare. Because bankrupt nations can't afford things like higher Medicare costs.  

Semiconductors remain volatile af, and not too easy to predict. You're on your own there.    

The kicker is that the cycle seems to be wrapping up right around a key Options target:

August Options Expiration Friday

 Like I said: I think we'll see another breakout on Gold, and it could take some time for the smart money to offload their gold miner shares to unsuspecting retail investors.

Same goes for Bitcoin: You don't typically see a parabolic 3 day move - like we just saw - come to an abrupt end. For instance, the top in S. Korean chips took several weeks to gain any downside momentum.  

How long can rotation trades continue to fuel the broader rally? Not much longer, I'm afraid. 

In fact while the talking heads continue to fan the flames on dollar weakness, I'm hiding out in bonds, which continue to consolidate just below the 50 week moving average. 

 

CAVEAT EMPTOR 

P.S. is a Latin phrase that means "let the buyer beware". It is a principle in contract and commercial law which states that the buyer takes the risk of a product or property having defects or poor quality unless a warranty is given or fraud is involved. Source: AI Overview

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