The BPGDM looks to have turned up, BUT the GDX 'could' drop for
a few days before resuming it's uptrend. BPGDM is a lagging
indicator. The ratio can whipsaw a bit here too. Watch both STOs
and tread carefully...of course if gold rockets off the jobs report
this morning expect GDX to follow.
BPGDM
Posted by sharonrose on 8th of Jan 2010 at 08:10 am
Matt,
Am I reading these charts correctly? The 2 charts in your links went on a buy signal for gold stocks.
Careful
Posted by perthx on 8th of Jan 2010 at 08:16 am
The BPGDM looks to have turned up, BUT the GDX 'could' drop for a few days before resuming it's uptrend. BPGDM is a lagging indicator. The ratio can whipsaw a bit here too. Watch both STOs and tread carefully...of course if gold rockets off the jobs report this morning expect GDX to follow.
trade individual gold stocks, not the BPGDM
Posted by junkie on 8th of Jan 2010 at 09:45 am
BVN has retraced almost 61% of its decline, while BPGDM has barely moved up. Trade your individual stocks instead of the index, it seems.