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Gold Miner ETF: Going Where Other Investors Aren't
Typically by the time articles like this come out, the asset class has topped at least in the short term.
GDX had a nice run since mid Jan bouncing off of 20 SMA all the way up (@bee this is the smoothed technical version of your higher and higher lows) but technically trend broken at the moment with about 5% pullback likely in the short term from where it is.
In the long term, it is impossible to predict anything related to Gold, it is best used as momentum play.
Agree with cman...watching for weekly confirmation of higher lows (continued upward trend). I will be stopped out if GDX crosses $25 which is 10% below its most recent rolling high ($27.73). Hoping this is a period of consolidation rather than a trend reversal. GDX is still very much out of synch with the rest of the equity market.
How I would interpret GDX YTD ? - Higher lows with periods of consolidation:
Comments
Gold Miners: Overbought Or Oversold?
shortsideoflong.com/2014/03/gold-miners-overbought-oversold/
GDX had a nice run since mid Jan bouncing off of 20 SMA all the way up (@bee this is the smoothed technical version of your higher and higher lows) but technically trend broken at the moment with about 5% pullback likely in the short term from where it is.
In the long term, it is impossible to predict anything related to Gold, it is best used as momentum play.
http://www.nasdaq.com/article/gold-mining-etf-investing-101-etf-news-and-commentary-cm336251
How I would interpret GDX YTD ? - Higher lows with periods of consolidation: