On Sunday night I revised my New Reader entry to highlight my concerns and positioning on gold.
Wednesday of last week my post Gold miners, Stock Market what next? all of the stocks below where even lower than Tuesday AM, so gains are even greater in 7 days.
Assuming GDX breaks above 27, the long term stock indicator will indicate a probable multi-month rally. since gold has been very suppressed for so long, I suspect the pent up demand and heavy short covering will make this scream higher.
Tuesday AM EOD Thursday Percent gain
GLD 122 127 4.1%
GDX 23.75 26 9.5%
GDXJ 38 43.07 13.3%
GLDX 14.25 15.90 11.5%
Gold, 10 year view