Loading ...Finally, a turning macro would be pertinent to gold stocks and GDX is in its 2nd day of higher than average, but perhaps not final capitulation volume.
HUI is breaking through the first support area as reviewed in a recent update. If an epic crash is in process for this sector index the big time volume may c
come at 120. But a question is, just how many people have been bullish the gold sector relative to before the crash of 2008? Not many in my opinion, w
which opens the question of where on earth would the epic puke volume come from? Which begs another question (that I am asking myself)… how g
greedy do I want to be in buying? The reversal off of whatever bottom lay ahead is likely to be ferocious, after all.
from nfrthBut you know I am a stickler about the need for the US stock market to roll over. If some of the indicators reviewed above continue to roll over and SPX follows suit I will be prepared to add gold stock positions.