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Let us hear no ghost stories about Banksters attacking gold or as Larry would say inflicting a “take down” on poor old gold, as if it’s planned, personal and a war of good vs. evil. Well it is, but “evil” is a moving target and sometimes wolves hide in sheep’s clothing.
(Editor's note: Good Lord!)(more…)
We have used this daily chart of the gold stock ETF, GDX in written and video updates to keep NFTRH subscribers apprised of the progress of the bounce from the early October low (after previously using the chart to manage the long correction that began with the May double top).
Let’s update the daily technical situation by noting that the GDX rally has halted where it should have halted, as we’ve expected resistance at or below the 200 day moving average (30.49) and/or clear visual resistance at 30. The pullback is in progress and has done a good thing by filling the upper gap as it grinds and tests the 50 day moving average. All normal.
(more…)Glad I got out of those GDX puts yesterday morning! The miners have busted through their resistance trendline.
This article views the gold stock sector’s big picture bullish situation from the standpoint of a single indicator, the HUI/Gold ratio and its relationship to the 30 year Treasury bond yield.
On the shorter-term and without going into tactical detail in a public post, the gold stock sector will either continue bouncing to end the correction that has been in force since the spring or it will take a final plunge. A final shakeout that could come amid vastly improved or improving fundamentals. As of the end of Q3 those fundamentals had not improved. They had degraded.
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