Welcome new reader!

Financial news I consider important, with my opinion, which is worth as much as you paid for it.
Please click HERE to read a synopsis of my view of the financial situation.

Wednesday, June 11, 2014

Gold Miners, Stock Market what next?

Gary of the Smart Money tracker is getting bullish on Gold Miners. I myself added to my options a few weeks ago. There is a neutral indicator that I have used and at times dis-reguarded to my own detriment of a stock direction. Please refer to post When to buy and get out of the stock market, a guide for long term investing.

Using this same indicator, I applied it to GDX, and it is not yet clear that GDX is on the rise using this indicator, but the stock may push the indicator over the edge in the days ahead.
Below is a graph of GDX, calling out when the 20-50 weekly SMA crosses, potentially indicating a stock trend change.

As you can see it is reasonably accurate as an independent indicator over long periods of time.

Using this indicator, there is ZERO indication of a market trend change, so for now the sky is the limit.

No comments:

Post a Comment