Yes, and considering the market carnage today as well as the big
sell off in gold metal, GDX is actually holding up quite well,
normally you would see it down well over -$2 on a day like today.
This can change of course, but for now GDX still has
potential to form a RS, we'll see...
I like your handle, you must be twice the drinker of our other
member, joe6pack,
anyway nice bounce so far. I'm happy that I posted my
observation earlier about gold stocks holding up well during the
pullback, they have provided a really nice trade from the lows
today.
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GDX GLD ratio.
Posted by rbreese on 23rd of May 2012 at 12:03 pm
Yes, and considering the market
Posted by matt on 23rd of May 2012 at 12:16 pm
Yes, and considering the market carnage today as well as the big sell off in gold metal, GDX is actually holding up quite well, normally you would see it down well over -$2 on a day like today. This can change of course, but for now GDX still has potential to form a RS, we'll see...
Matt, you have a very
Posted by gyzhao on 23rd of May 2012 at 12:27 pm
Matt, you have a very good point!
It looks GDX is much stronger than GLD.
well for now anyway, if
Posted by matt on 23rd of May 2012 at 12:33 pm
well for now anyway, if the market falls off another cliff, that can change quickly, we'll see...
GDX Inverted H&S target to previous breakdown
Posted by joe12pack on 23rd of May 2012 at 12:35 pm
http://screencast.com/t/jF78kOmSS2
thanks for the chart joe12pack, I
Posted by matt on 23rd of May 2012 at 02:49 pm
thanks for the chart joe12pack,
I like your handle, you must be twice the drinker of our other member, joe6pack,
anyway nice bounce so far. I'm happy that I posted my observation earlier about gold stocks holding up well during the pullback, they have provided a really nice trade from the lows today.