GDX

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Breakouts Galore in Gold & Silver

Gold broke-out last week on Brexit while Silver waited a week to join the party. The miners, meanwhile cleared 2014 resistance today. There are breakouts across the board in the precious metals space.   The weekly candle charts of Gold and Silver are plotted in the image below. Gold appears to have digested the Brexit … Continue reading

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Bull Markets that Follow Epic Bears

The gold mining stocks continue to defy any bearish price action or perceived bearish development. Pundits first warned because of the “bearish” CoT data. The commercials are always right and a big decline is coming! Then we heard the miners were too overbought and would have to correct 20%. (I thought this once or twice!) … Continue reading

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Gold Stocks Retreat at Resistance

Over the past two weeks gold stocks have surged more than 20% as the awful jobs report forced the bears to capitulate. That strong of a move in a brief amount of time will naturally slow or correct. Furthermore, gold stocks touched resistance Friday morning which led to a bearish reversal. While the bullish trend … Continue reading

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Are Junior Gold Stocks Following 2008-2009 Recovery?

Weeks ago precious metals began a correction amid overbought conditions (in the miners) and very bullish sentiment in the metals. The recent Fed minutes helped accelerate the weakness but it lost steam in recent days. A real stinker of a jobs report completely reversed the thought that the Fed would hike rates in the summer … Continue reading

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Gold Stocks in Correction Mode (Video)

A look at the current correction in gold stocks and some thoughts on how much longer it will last and how much lower GDX, GDXJ could go.  

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GDX Put-Call Chart

From time to time we track the put-call ratios for GDX, GLD and SLV. The put-ratios for GLD and SLV gave good timing signals in 2015. GDX’s signals are a bit more tricky and we have not paid much attention to them. The chart below plots GDX’s put-call ratio, smoothed by a 20-day moving average … Continue reading

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Gold Looking Vulnerable While Gold Stocks Correct

Last week we highlighted our gold stocks bull analog chart which showed the gold stocks correcting at least 20% at this point during both the 2008-2009 and 2000-2001 recoveries. We concluded that gold stocks were likely to continue to correct in the days and weeks ahead. While that has played out so far, we should … Continue reading

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Interview with Mike Swanson, WallSt Window

Mike Swanson of WallStWindow interviewed us yesterday to get our thoughts on the latest developments in precious metals and the stock market. Listen here… http://s3.amazonaws.com/ezs3-07fe5200-1422-1d54-b18490029e76bad0/podcast/2016/wsw05182016jordan.mp3  

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