Loading ...GDX update
I was wrong about a further wash out. GDX has broken the yearly cycle decline (the line shown extends all the way back to the top in early May).
I will be waiting for the next 7 day low to buy some GLCC. We are currently on day 4, see arrows in the image for the DCL and YCL in gdx.
Gus- I’m a fan keep the updates as you see them coming
Appreciate it, nice to know these aren’t going into an empty void!
Much appreciated, Sir Gus.
When someone starts their post with “I was wrong …” I totally relate to them. Hence the Learner in the alias.
Do you also want to post a GDXJ chart?
I saw somewhere that a huge gap up happened and now the GDXJ bottom fishers are hoping for that gap to be filled.
GL
Excellent, Gus – i, too, was surprised by no pullback in GDX etc. Dang!! A buying opportunity that never turned up. But got some calls for December and sitting on them like I’m made of lead.
Appreciate the messages again. I decided to do a longer term analysis as a new post based on the GDXJ request. If it is the gap from last year, I do believe it will get filled, but it may be a few months away now based on the current price action.
Silverboom, I too was caught off guard by this rally. Its amazing how easy your emotions can get a hold of you. I predicted this time frame as a buying opportunity back in the summer and I still didn’t pull the trigger on the capitulation event i was waiting for!