GDX - Chart Link - and while some of the
gold stocks have given trades, my uneasiness with that market is
that it continues to get bids when the general market is weak (this
morning) and then sell off when the general market rallies - see
what happened today, it was strong in the morning when the market
was down, and now that the market has rallied off the lows it had
sold off (and a H&S pattern formed). It acts like it only
wants to rally if the general market sells off. Longer term I want
to see GDX rally despite what the general market is doing
just like yesterday still seeing GDX trade inverse to the SPX,
yesterday morning when market was down GDX was up and then sold off
after the market rallied back all the way. Today GDX started
rallying as the SPX was falling from the morning
GDX comments
Posted by matt on 23rd of Jan 2020 at 01:55 pm
GDX - Chart Link - and while some of the gold stocks have given trades, my uneasiness with that market is that it continues to get bids when the general market is weak (this morning) and then sell off when the general market rallies - see what happened today, it was strong in the morning when the market was down, and now that the market has rallied off the lows it had sold off (and a H&S pattern formed). It acts like it only wants to rally if the general market sells off. Longer term I want to see GDX rally despite what the general market is doing
anyway enough rant
just like yesterday still seeing
Posted by matt on 24th of Jan 2020 at 10:55 am
just like yesterday still seeing GDX trade inverse to the SPX, yesterday morning when market was down GDX was up and then sold off after the market rallied back all the way. Today GDX started rallying as the SPX was falling from the morning
right on cue there GDX
Posted by matt on 24th of Jan 2020 at 11:19 am
right on cue there GDX popped again on the SPX bounce. clearly folks using GDX and gold to hedge the market
though for a healthier longer term uptrend I'd rather see this stuff trade on its own vs needing the market to pullback
and right on cue the
Posted by matt on 24th of Jan 2020 at 12:37 pm
and right on cue the GDX sells off from the highs while the SPX bounced off the lows