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that was a crap showing by gold stocks


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#21 SemiBizz

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Posted 16 December 2016 - 08:40 AM

It's not tough and brutal unless you are long...but only if you plan to trade it.   Other than that, it's just an opportunity to add to a position you never plan to sell.

 

This is just a bear market, and it's not over...

 

yes.gif


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#22 lotus2t

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Posted 16 December 2016 - 11:53 AM

It's not tough and brutal unless you are long...but only if you plan to trade it.   Other than that, it's just an opportunity to add to a position you never plan to sell.

 

This is just a bear market, and it's not over...

 

yes.gif

Yes, semi, with the amount of positive divergences and the gold stocks had not been able to rally, instead the continued selling is in  heavy volume wiping off the pos. div. On Wed-Thurs gdx just broke in heavy volume a multiyear trend line which held the previous 2 lows at $20.13 and $20.14. Yesterday back tested the 2016 breakout trend line which we are now sitting on and yet not willing to put up a good rally. gld looks more like a wave 3 down to me. gdx below $16.50 will go to $9-$7. Well, let see if 17.77 will bring a good rally that could change the big picture.