If we back-off at $1230 +/- a little and then head back-up then Guru Fully would be right. If we plummet the depths of 1100s or below then Clive ‘Get me 30000 coffins’ Maunde is the Cheshire Cat with the widest grin. Until then, it’s too early to call.
The gurus I read were calling for the GDX and HUI to move back down to the March consolidation zone for a retest…which is about 175 on the HUI. Gold has now moved down to re-test that March zone but the miners remain 20% higher. My monthly HUI chart continues to support prices above 200.
Running the stops? I should really be doing some work but seeing gold break 1230 makes me Wonder if this is the algos running the stops before we head back up. Impossible to know right this second.
If we back-off at $1230 +/- a little and then head back-up then Guru Fully would be right. If we plummet the depths of 1100s or below then Clive ‘Get me 30000 coffins’ Maunde is the Cheshire Cat with the widest grin. Until then, it’s too early to call.
BobbyC I am with you. IMHO, this is the cross junction. Place your bets accordingly.
The gurus I read were calling for the GDX and HUI to move back down to the March consolidation zone for a retest…which is about 175 on the HUI. Gold has now moved down to re-test that March zone but the miners remain 20% higher. My monthly HUI chart continues to support prices above 200.
I think Spock flagged HUI 202 as key.
Good one, BobbyC. Clive … LOL
30000 coffins…really over exaggerated..At the very most we go broke and suck thumbs that’s it.
Running the stops? I should really be doing some work but seeing gold break 1230 makes me Wonder if this is the algos running the stops before we head back up. Impossible to know right this second.
So far one could only classify this as a shakeout. Below HUI 185 They can claim bragging rights. In the meantime, sitting tight
I’ve been adding……….
http://stockcharts.com/h-sc/ui?s=GDXJ&p=30&yr=0&mn=1&dy=0&id=p93032538699&a=429346484
Depends on the guru. Clive, Edelson, Armstrong, etc subs have all missed a huge move in the miners. A 20-25% correction doesn’t make them right.
What really matters is how much money you made or lost. Be wary of those who tout themselves but don’t even share their own trades or record.
Good one Jordan! You have done well on the rally. No doubt Clive will be telling people so as the correction moves forward.