GDX - Chart Link - you can see how it
stopped at that downtrend line.
as you guys know, I've been staying away from that area for
longs as I didn't like how high the commercial net short got, 2nd
highest in history, and the large speculators were also at a record
and even with the correction while these numbers dropped they
remained extremely elevated.
anyway nice to see GDX selling down from the dowtrend line. I
would like to see it work lower over time, so that we can look for
a much lower swing entry again like we had back in May/June
nice on GDX
Posted by matt on 11th of Oct 2019 at 10:12 am
GDX - Chart Link - you can see how it stopped at that downtrend line.
as you guys know, I've been staying away from that area for longs as I didn't like how high the commercial net short got, 2nd highest in history, and the large speculators were also at a record and even with the correction while these numbers dropped they remained extremely elevated.
anyway nice to see GDX selling down from the dowtrend line. I would like to see it work lower over time, so that we can look for a much lower swing entry again like we had back in May/June
super analysis, thanks Matt!
Posted by morton7 on 11th of Oct 2019 at 10:15 am
super analysis, thanks Matt!
agree , My membership started
Posted by retirefire on 11th of Oct 2019 at 10:39 am
agree , My membership started post miner bull run, so awaiting for 2nd chance if it develops
We'll see what the new
Posted by matt on 11th of Oct 2019 at 11:01 am
We'll see what the new COT data is today, however I don't expect it to have changed too much yet, gonna take time to work that excess off