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Topic: GDX 3-22-17 (Read 448 times) previous topic - next topic

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GDX 3-22-17
For Entertainment Purposes Only.

Re: GDX 3-22-17
Reply #1
For Entertainment Purposes Only.

Re: GDX 3-22-17
Reply #2
For Entertainment Purposes Only.

Re: GDX 3-22-17
Reply #3
It has been a while since anything has been posted on this thread and to be honest, Adam Hamilton's blog this week drove me to looking at the ratio, but in its inverse. A quote from his blog: "Throughout this entire gold bull, gold has never been higher with sub-250k spec longs than it is today near $1300! Usually the yellow metal was only around $1250 at this kind of positioning. So we are now witnessing gold's highest basing in its bull market relative to spec longs. $1350 isn't much higher than $1300, just another 3.8%. There's a good chance the remaining stage-two buying will drive gold there." Here is the link to the full article:


To check/verify his position, I plotted GDX priced in gold and find gold stocks in fact are doing quite well,and may even be pointing to a short term bottom in shares relative to gold. It is a bit encouraging for this investor with a long term bull bias.

Chart is up sloping nicely, moving averages are bull oriented, and MACD is position bearish, which in recent past has marked bottoms in the ratio.