GDX trying to to to 29 into support.
But if it fails to do so, might be a good idea to snug up stop loss levels...
Edited by K Wave, 05 March 2020 - 10:42 AM.
Posted 05 March 2020 - 10:42 AM
GDX trying to to to 29 into support.
But if it fails to do so, might be a good idea to snug up stop loss levels...
Edited by K Wave, 05 March 2020 - 10:42 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Posted 05 March 2020 - 10:53 AM
XAU and GDX do not look bullish to me, gold has surged up while the gold stocks are rolling over and the stock market is starting down again which I have the spx signal for a low around April 3rd for.
Posted 05 March 2020 - 11:43 AM
Maybe I am wrong that we V bottomed and will keep heading higher, but gotta say most of the posts of the past few days are about worrying/warning over this or that (nitpicking IMO) which frankly makes me smile, couldn't ask for a nicer "wall of worry" with gold up $100 or so in a handful of days. So miners are lagging here BFD, IMO that's because of the severe stock market weakness we have had - they will have their days-weeks-months in the sun soon enough in my view. GDXJ has a huge 5 up from 26-46 and just retraced over 50% into recent crash lows, the next move could easily be $30 or more and some want to "quibble" over a few dollars here? to each their own
Senor
Posted 05 March 2020 - 01:11 PM
yes, i am concerned about the lagging miners. as you say bulls climb a wall of worry. gold is functioning as a safe have +30 dow -950
there are so many black swans out there. crzby new lows on the day and for the move. regional us banks hit new 52 week lows. the virus is going parabolic. jim rogers recommends the airlines as they get pummeled. he was early . i am right and sitting tight.
dharma
Posted 05 March 2020 - 01:25 PM
well looks like folks are catching on. Global gold-backed ETFs (gold ETFs) and similar products added 84.5 tonnes(t), or net inflows of US$4.9bn, across all regions in February, boosting holdings to new all-time highs of 3,033t. https://pbs.twimg.co...ng&name=900x900
dharma
gdx new highs for the move 5 so did other mining indexes.
Edited by dharma, 05 March 2020 - 01:27 PM.
Posted 05 March 2020 - 01:34 PM
yes, i am concerned about the lagging miners. as you say bulls climb a wall of worry. gold is functioning as a safe have +30 dow -950
there are so many black swans out there. crzby new lows on the day and for the move. regional us banks hit new 52 week lows. the virus is going parabolic. jim rogers recommends the airlines as they get pummeled. he was early . i am right and sitting tight.
dharma
yep, and as the dow goes down more than 900 pts miners rally - the "conditioning" is slowly changing. TYX down almost 5% - LOL as rates head toward zero
Senor
Edited by senorBS, 05 March 2020 - 01:35 PM.
Posted 05 March 2020 - 02:50 PM
Maybe I am wrong that we V bottomed and will keep heading higher, but gotta say most of the posts of the past few days are about worrying/warning over this or that (nitpicking IMO) which frankly makes me smile, couldn't ask for a nicer "wall of worry" with gold up $100 or so in a handful of days. So miners are lagging here BFD, IMO that's because of the severe stock market weakness we have had - they will have their days-weeks-months in the sun soon enough in my view. GDXJ has a huge 5 up from 26-46 and just retraced over 50% into recent crash lows, the next move could easily be $30 or more and some want to "quibble" over a few dollars here? to each their own
Senor
Well you could be right about this Senor, the extreme volatility got me worried and my original trend for a gdxj high around late June or early July has been violated quite abit but it could still be right.
Posted 06 March 2020 - 09:39 AM
GDX must hold back test of 29.40 after the reversal this AM.
IF not, gonna come undone in a hurry...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Posted 06 March 2020 - 09:42 AM
Gold continues to march to its own drummer....
Not sure for much longer through, if miners do end up cracking today....
If you are levered long. might be a good place to take some profits....
Edited by K Wave, 06 March 2020 - 09:42 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Posted 06 March 2020 - 10:06 AM
GDX bounces off 1 min 900.
Back test of 29.40-.50 could be revealing
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy