Got rid of a lot of weak hands in the PM stocks today. Earlier
huge losses were more than cut in half by the close. Hopefully,
that actually means something. GDX bottomed at the exact same level
as it did in July at $20.83.
Volume at 100 million was the
highest since April .
Stage should be set for a mean reversion snapback rally to
$22.50-$23.00 next week. GDX down 7 straight and 9 of the last 10.
Closed below lower Bollinger 4 straight sessions. Most oversold
since December 2016.
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Got rid of a lot
Posted by victorh on 9th of Feb 2018 at 08:13 pm
Got rid of a lot of weak hands in the PM stocks today. Earlier huge losses were more than cut in half by the close. Hopefully, that actually means something. GDX bottomed at the exact same level as it did in July at $20.83. Volume at 100 million was the highest since April .
Stage should be set for a mean reversion snapback rally to $22.50-$23.00 next week. GDX down 7 straight and 9 of the last 10. Closed below lower Bollinger 4 straight sessions. Most oversold since December 2016.