As Predicted, Gold Stocks “Popped” Higher
AS PREDICTED, GOLD STOCKS “POPPED” HIGHER
As usual, Jeff Clark was right about buying gold stocks.
About three weeks ago, we noted gold stocks had suffered much more than the average sector during the January decline. This suffering took the golds to a badly “oversold” level… a level we showed often precedes major rallies.
A reminder: Markets move in waves. While these waves are impossible to accurately predict, they do have a tendency to stage “rubber band” snapbacks after big moves. As you can see from today’s chart, the big gold stock fund (GDX) just enjoyed one of those snapbacks… which Jeff’s readers traded for 100% gains.
We typically cover longer-term ideas in DailyWealth. But we also know going against crowd behavior – and trading overbought/oversold extremes – is a great way to make money for folks with time to follow day-to-day movements. And as this trade reminds us, it’s well worth it to take Jeff Clark’s “day-to-day” advice.
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