yep pretty much roger, gold stocks are MUCH weaker than the
metal, that's not what you want to see them start to outperform.
PM stock have also been getting killed with earnings, this
has not been a good earnings season for anything, IAG was the
latest casualty yesterday. Since GDX is a composite
of all these stocks, was only a matter of time before it got nailed
too.
there is huge negative macd divergence on the daily chart - not
going away anytime soon by the looks of it.
it may be oversold enough at around 40 to start to show some
momentum change - maybe.
meanwhile DUST is a good way to play it - until negative
divergence starts to show up there. DUST / NUGT
are good ways to play the ups and downs b/c they move sharply and
when they reach o/b/s, will show divergence very clearly.
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yep pretty much roger, gold
Important question about the gold mining stocks
Posted by matt on 15th of Nov 2012 at 08:59 am
yep pretty much roger, gold stocks are MUCH weaker than the metal, that's not what you want to see them start to outperform. PM stock have also been getting killed with earnings, this has not been a good earnings season for anything, IAG was the latest casualty yesterday. Since GDX is a composite of all these stocks, was only a matter of time before it got nailed too.
gdx
Posted by roger on 15th of Nov 2012 at 09:26 am
there is huge negative macd divergence on the daily chart - not going away anytime soon by the looks of it.
it may be oversold enough at around 40 to start to show some momentum change - maybe.
meanwhile DUST is a good way to play it - until negative divergence starts to show up there. DUST / NUGT are good ways to play the ups and downs b/c they move sharply and when they reach o/b/s, will show divergence very clearly.