yeah NEM always been kind of a dog, but also it's the largest
component of GDX ETF. Otherwise NEM did have a nice move from Feb
lows to Friday's highs, just from a chart perspective it was a
logical place to pullback from the Dec highs anyway.
ultimately unless something dramatic changes, I'd be looking for
all these to form higher lows
that said - is gold now in a 2 or 3 month correction? Gold
seasonality is weak from late April to mid July typically.
We'll see....
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I love that NEM can
Posted by rbreese on 15th of Apr 2024 at 09:53 am
I love that NEM can not hold the gain. Covering on weakness today. Good mention by Steve to sell some miners if GOLD had some bounce this a.m.
yeah NEM always been kind
Posted by matt on 15th of Apr 2024 at 10:03 am
yeah NEM always been kind of a dog, but also it's the largest component of GDX ETF. Otherwise NEM did have a nice move from Feb lows to Friday's highs, just from a chart perspective it was a logical place to pullback from the Dec highs anyway.
ultimately unless something dramatic changes, I'd be looking for all these to form higher lows
that said - is gold now in a 2 or 3 month correction? Gold seasonality is weak from late April to mid July typically. We'll see....