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Topic: GDX Gold Etc. (Read 707 times) previous topic - next topic

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  • Erich 
  • [*][*][*][*]
GDX Gold Etc.
Very surprised how well the miners are holding up with the anemic behavior of gold/sliver.
It feels like a change in sentiment regarding the miners in general. Very happy with SSRM and PAAS.
UEC is even for me and I will continue to hold all. Not trading here.
GLTA ER

  • ken
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  • Global Moderator
Re: GDX Gold Etc.
Reply #1
Sold NSRPF for a 30% profit. Will buy back on correction.

  • Erich 
  • [*][*][*][*]
Re: GDX Gold Etc.
Reply #2
Sold NSRPF for a 30% profit. Will buy back on correction.
Nice Rip Ken. Big spike today.
ER

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: GDX Gold Etc.
Reply #3
Sold NSRPF for a 30% profit. Will buy back on correction.
Nice Rip Ken. Big spike today.
ER
I wonder what the correction may be? Thinking about 6 bucks.

Re: GDX Gold Etc.
Reply #4
Stewart Thompson in the linked article has a quite positive view of the PM space and has a chart of GDX to make his point:

http://www.321gold.com/editorials/thomson_s/thomson_s_101519.html

Longer term I am sure he is correct, but short term I wonder. Have a look at the weekly chart:



Notice Stochastic chart is headed down and curves are bear oriented and it is the same with MACD. Also share price is headed to the lower half of the BB spread. Last time this occurred share price tagged the lower band It might be prudent to wait for Sto curves to bull cross and for the MACD curve spread to start narrowing if not outright cross before committing new money. Also note BB bands are contracting, once they have pinched and start to spread with an up trending share price and positive indicators noted above, PM stocks might be off to the races that Ed is looking for or at least mentioned. Given this is a weekly chart, it could be possible 2 maybe 4 weeks plus are needed for this to play out.

  • edthelorax
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  • Administrator
Re: GDX Gold Etc.
Reply #5
Right now I'm still looking at this for gold.
For Entertainment Purposes Only.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: GDX Gold Etc.
Reply #6
Right now I'm still looking at this for gold.

Have a gold/silver ratio one updated that would show us more?

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: GDX Gold Etc.
Reply #7
For Entertainment Purposes Only.

Re: GDX Gold Etc.
Reply #8
Even though your chart would suggest the ratio at a decision junction, I do not see clear direction at this point.


  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: GDX Gold Etc.
Reply #9
Even though your chart would suggest the ratio at a decision junction, I do not see clear direction at this point.

I see the ratio treading down from here...

  • Last Edit: October 16, 2019, 04:47:52 PM by ken

Re: GDX Gold Etc.
Reply #10
Even though your chart would suggest the ratio at a decision junction, I do not see clear direction at this point.

I see the ratio treading down from here...


Longer term, I am confident gold silver ratio goes down, not said, but I was thinking of the next few days maybe a week or two.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: GDX Gold Etc.
Reply #11
Even though your chart would suggest the ratio at a decision junction, I do not see clear direction at this point.

I see the ratio treading down from here...


Longer term, I am confident gold silver ratio goes down, not said, but I was thinking of the next few days maybe a week or two.

Would like to see that also....

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: GDX Gold Etc.
Reply #12
I should have put the lines here.
For Entertainment Purposes Only.

Re: GDX Gold Etc.
Reply #13
Gold and silver are having a good day as are PM stocks in general. When, maybe if, congress passes the coronavirus stimulus bill, stocks might get a short lived bounce at the expense of the entire PM sector. For now, very short term indicators suggest a turn in PM stocks as represented by GDXJ and GDX might be taking place. Note also with the unlimited QE announced today, corporate debt was added to the shopping list. I am thinking economic historians, when the get rid of Keynesian fever, will be falling all over themselves writing about the misguided monetary moves made since Volker.

Note March 16 on the charts: