Pascal
02-21-2013, 06:22 AM
The GDX Model did not close in the Oversold territory and hence will stay in cash today.
Most miners have been badly damaged by the selling, but an oversold bounce is always possible at present levels.
For me to buy a bounce, I'd need to first see some buying in the gold futures. As I wrote a few days ago, large early drops in gold have been followed by more drops. But this of course must end at some point, which might or might not be soon.
Pascal
17395
17396
Most miners have been badly damaged by the selling, but an oversold bounce is always possible at present levels.
For me to buy a bounce, I'd need to first see some buying in the gold futures. As I wrote a few days ago, large early drops in gold have been followed by more drops. But this of course must end at some point, which might or might not be soon.
Pascal
17395
17396