again gold stocks are mostly trading inverse to the market.
here's a chart that plots $ONE:GDX vs SPX, to plot the inverse of
GDX, can see trading right along with SPX. Remember think of
this inverse, so GDX would be opposite - when market sells off GDX
goes up, when market rallies, GDX goes down. that's been my
problem with GDX and a lot of pm stocks, they catch a bid when
market sells off and lose it when market goes up, which means it's
more of a 'safe haven' trade vs just acting strong on its own
regardless of what the market is doing. So if you are a gold bug,
you have to worry that if the market did find a bottom, and goes
back up, that money will come out of GDX. even intra day 5 min
chart, where SPX just put in a low GDX put in a high there, they
are trading inverse to one another
matt the thing is you trade what works you dont have to ba a
gold bug and a gold hater most traders are swayed by the hatred on
love of gold . i trade what i see thus i had hugh couple weeks
trading gld nugt and jnug. tarding vehicles are just that just my
thoughts
I have a loud mechanical keyboard that Steve hates if I'm on the
phone with him, I can't be typing otherwise he gets mad at me LOL.
But it's the best from typing standpoint
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GDX vs SPX
Posted by matt on 27th of Dec 2018 at 03:12 pm
again gold stocks are mostly trading inverse to the market. here's a chart that plots $ONE:GDX vs SPX, to plot the inverse of GDX, can see trading right along with SPX. Remember think of this inverse, so GDX would be opposite - when market sells off GDX goes up, when market rallies, GDX goes down. that's been my problem with GDX and a lot of pm stocks, they catch a bid when market sells off and lose it when market goes up, which means it's more of a 'safe haven' trade vs just acting strong on its own regardless of what the market is doing. So if you are a gold bug, you have to worry that if the market did find a bottom, and goes back up, that money will come out of GDX. even intra day 5 min chart, where SPX just put in a low GDX put in a high there, they are trading inverse to one another
matt the thing is you
Posted by RP on 27th of Dec 2018 at 03:16 pm
matt the thing is you trade what works you dont have to ba a gold bug and a gold hater most traders are swayed by the hatred on love of gold . i trade what i see thus i had hugh couple weeks trading gld nugt and jnug. tarding vehicles are just that just my thoughts
agree 100% the problem with
Posted by matt on 27th of Dec 2018 at 03:17 pm
agree 100% the problem with most 'bugs' is that they don't trade objectively, and trade with rose colored glasses, always with a bullish slant
thus my point..sorry about typos
Posted by RP on 27th of Dec 2018 at 03:18 pm
thus my point..sorry about typos my keyboard expensive died now i am on a walmart 10.00 unit hahaa hav to send other one back.
I have a loud mechanical
Posted by matt on 27th of Dec 2018 at 03:21 pm
I have a loud mechanical keyboard that Steve hates if I'm on the phone with him, I can't be typing otherwise he gets mad at me LOL. But it's the best from typing standpoint