still looking for the 'final purge', any thoughts or projections
how low they might go? oh, and thanks again Matt for convincing me
that selling GDXJ 16 puts was not a good idea a coupla months
back....
I would say if it busts the support area labelled "short term
support", then 2008 lows are in the cards. Crazy to think of
that. Here we are at record highs in $SPX in 4+ year bull run
that has had two main features: "precious metals bull market caused
by fed"; and tech bonanza led by Apple. On this day of RECORD
highs, gdxj is down 7.5% and AAPL is down 4.5%.
gold stocks are breaking the "march 09 lows" -- because they
bottomed way sooner than the broad market. Don't know if the
"V-bottom" of 2009 can happen again is the problem. The
"shock and awe" monetary campaign might be a once in a long while
effort (or at least the reaction to it). Gold stocks had a 5
year bear market from 1996-2001. We are only a little over 2
years into this one.
well
hazbin1- either
GDX makes a slight new divergent low, or it goes a lot lower to
eventually hit the weekly H&S patterns, which basically meet or
exceed the 2008 lows.
also remember the gaps that I pointed out on GDX that were never
filled from Dec 2008, here's that chart, those gaps might be
targets
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GDX/GDXJ - are we there yet?
Posted by hazbin1 on 15th of May 2013 at 02:59 pm
still looking for the 'final purge', any thoughts or projections how low they might go? oh, and thanks again Matt for convincing me that selling GDXJ 16 puts was not a good idea a coupla months back....
I would say if it
Posted by kalinm on 15th of May 2013 at 03:21 pm
I would say if it busts the support area labelled "short term support", then 2008 lows are in the cards. Crazy to think of that. Here we are at record highs in $SPX in 4+ year bull run that has had two main features: "precious metals bull market caused by fed"; and tech bonanza led by Apple. On this day of RECORD highs, gdxj is down 7.5% and AAPL is down 4.5%.
nice chart, fed wants er is busting the gold bubble....
Posted by morton13 on 15th of May 2013 at 03:24 pm
hey what if the fed bust the gold bubble
Posted by morton13 on 15th of May 2013 at 03:26 pm
and gold goes to incredible low prices and then says the dollar is going back on the gold standard, what would happen then? hmmmm
I read it that Gold is saying the Fed is done
Posted by a_l_ on 16th of May 2013 at 11:17 am
that is, out of ammo to inflate - thus the strong US$ & weak commodities - look at the early '80s for a template.
nice parabola chart kalinm
Posted by matt on 15th of May 2013 at 03:23 pm
nice parabola chart kalinm
gold stocks are breaking the
Posted by kalinm on 15th of May 2013 at 03:30 pm
gold stocks are breaking the "march 09 lows" -- because they bottomed way sooner than the broad market. Don't know if the "V-bottom" of 2009 can happen again is the problem. The "shock and awe" monetary campaign might be a once in a long while effort (or at least the reaction to it). Gold stocks had a 5 year bear market from 1996-2001. We are only a little over 2 years into this one.
well hazbin1- either GDX makes a
Posted by matt on 15th of May 2013 at 03:02 pm
well hazbin1- either GDX makes a slight new divergent low, or it goes a lot lower to eventually hit the weekly H&S patterns, which basically meet or exceed the 2008 lows.
also remember the gaps that I pointed out on GDX that were never filled from Dec 2008, here's that chart, those gaps might be targets