Pascal
03-01-2013, 04:04 AM
The GDX Model could issue a buy signal today, if we cross above the average (+Porosity.)
However, gold/silver do not attract much money yet and are still in a "basing pattern," which could be the start of a new leg down. The political non-decision puts some pressure in the sector. I would be very prudent in buying the miners here. We will have much time to buy on the way up. I will however take a small position on a buy signal, but nothing using leverage and with tighter stops than what the model usually suggests.
Pascal
17495
However, gold/silver do not attract much money yet and are still in a "basing pattern," which could be the start of a new leg down. The political non-decision puts some pressure in the sector. I would be very prudent in buying the miners here. We will have much time to buy on the way up. I will however take a small position on a buy signal, but nothing using leverage and with tighter stops than what the model usually suggests.
Pascal
17495