We have mentioned several times recently here and on our sister site (www.Montrealanalyst.com) that gold and many of the mining stocks have finished their final price bottoms and were ripe for investment. I have examined over fifteen different technical indicators and fundamental gauges as well as the views of well respected mining people and they all lead to the same conclusion; the bottom has been made for the gold bullion and for most of the the mining stocks that have legitimate potential projects, reserves, cash, sound management among many factors. Since we are never certain of any move, we are monitoring the projections of other analysts as well. 

With that in mind, today we received the views of two of the finest technical analysts that we have known over the last twenty five years. Highly respected  technical analyst and renowned author John J. Murphy said that he finds that the gold stocks seem to be finalizing bottoms in many cases. While John is not saying to aggressively buy, he is suggesting that accumulation is now merited in many stocks. 

The other technical analyst, Robert Morrow was the subject of an article in Barron’s this week(July 28). Most people in North America have seen Bob on business television’s “Nightly Business Report” for over twenty years. He had quite a following as we get more requests for Bob’s outlook than any other analyst that we know. Not surprisingly, Bob does not like appearing on television nor do his clients want him to appear. He told us that the prime reason that he did appear on PBS’s Nightly Business Report was that he enjoyed being interviewed by now retired Paul Kangas.

Bob has been negative on gold until the last two months as he warned us that his math based cyclical analysis was suggesting a bottom. He now awaits a final confirmation. By the way, at various times over the last twenty years,  he was named as the top stock market timer by Timer’s Digest. What few know is that he has been one of the top timers for Gold as well. As we are positive on gold and gold stocks, it is reassuring to know that John and Bob are as well. We will keep you updated.