Seems to be outperforming other metals stocks hugely.  Leading the pack and with a relentless bid.

Why?

Is it because it is go to stock for the big money crowd? (liquidity).   Or did they find some huge new gold reserve somewhere.

AAII Survey Results for Week Ending 6/12/2019
Data represents what direction members feel the
stock market will be in next 6 months.

HISTORICAL AVERAGE: 38.5%
?
BULLISH
26.8%
+4.3 Percentage point
change from
last week

HISTORICAL AVERAGE: 31.0%
?
NEUTRAL
39.0%
+4.1 Percentage point
change from
last week

HISTORICAL AVERAGE: 30.5%
?
BEARISH
34.2%
-8.4 Percentage point
change from
last week

Note: Numbers may not add up to 100% because of rounding.

The usual volatility games before OPEX week is now in progress. This pullback may still test SPX 2840 but after that it is UP again next week. 

However, all this can be reduced to irrelevance if the geopolitical events in the MidEast blow up into something much more dangerous. 

 

If any you follow my posts, I stated NEM's 32 level was important. since that hurdle was crossed the HUI has rallied 15% +  Look the two charts and the dates where the break above 32 began. The new move has begun.   I believe the Bull makert started years ago but we don't need to get into definitions here because it clouds the focus. I beleive something very important happened in the Gold stocks and Gold and silver at the end of 2015. Look at the move in Gold from the year 2000 to 2011. BTW I made my first Gold coin purchase ever at $266 and started trading gold futures that same year. That's pretty good timing and I was waited 20 years to buy.  Gold went from $256/266 or so to the top in 2011 around $1925. The HUI went from around 25 to over 650. That took 10 years, 11 years give or take.  You do the math on that % gain. I come with 2600 % for the index. There was a big pullback in 2008/2009 and the move from that low into 2011 top was also huge.

  I have not done all the math but I posted recently that we needed the move up a few weeks ago then a pullback of sorts (now occuring for a sell) Which started the very day I said it. and now a move higher will give us a very very bullish signal indicating a move of at least a 100% move higher if not several hundred and perhaps even something akin to the move from 2000 to 2011 or maybe the move from the 2008/2009 low into the 2011 High.  This move higher can start now or delay a little longer. doesn't matter. the bar gets lower with time

The talk of fed rate cuts sealed the deal for me from a fundamental view point. This is going to be spectacular IMO. Especially if the Fed does cut 2 or 3 times this year. Day I say 4 times within the next 8 months or less?

If I think I'm wrong about this, I'll be the first to admit it and post I was wrong.

From the linK:

 

To state the obvious, most stocks move with the general market, and more obviously almost all stocks move like all stocks in their sector.

 

And this may be no more obvious than with the gold stocks.

 

I’m always surprised at the endless discussions of which gold stock to buy. Gold bugs, particularly, love this stuff — this one, or that one, or maybe that one. One stock picker or another has very good arguments for each of their choices, fundamentals, technicals, some buddy’s opinion, whatever, but they all ignore the obvious — they’re talking about trees when there’s a forest out there.

For more and the charts:

THE FOREST AND THE TREES