Did you catch that close on the gold stocks? It is no wonder so many people lose their minds with this sector. 1 minute chart… I wouldn’t blame the evil forces folks. I’d more likely blame a gold fund barfing up shares in the last few minutes. Continue reading GDX Hammered on Close
Understand that these are just two stocks (without highly liquid volumes) that I am interested in for my own reasons and there is a market full of others out there. So these are not recommendations but rather, examples of charts that I look for at year end.
OncoMed (OMED) is held in the IRA as a sort of lottery ticket speculation. I bought it a few weeks ago at just above 19, rode it up and am riding it back down currently. While I sold several other items on the market bounce, I decided to keep this one because little has changed since it was driven to the 40’s last year by a news release that I considered fundamentally valid (for a very speculative specialty pharma/biotech stock that is).
In the land of indicators, there is just as much confusion as there is in the land of asset markets. In the markets it’s gold miners up, down, up… stock market up… and up again. Okay, well global stock markets are a little more jumpy, anyway. Oil likes the Republicans for a day and then is down again. But what to make of the indicators? … Continue reading In the Land of Indicators
Not to amp up the noise, but if the sector is going to keep doing an up one day, down the next, up the next routine around the 2008 low we are going to keep noting it, simply because that level is so significant. So in a repeat of yesterday’s update, if HUI remains strong and closes above that key level (150.27) then it is … Continue reading NFTRH; HUI (for traders)
A quick check up on the current market environment…
TIP-TLT says no inflation expectations buildup yet.
Commodities vs. gold is breaking back up above the moving averages. A declining CCI-Gold has/had been one of the few positive fundamental underpinnings for the gold sector. It would also be a negative for the economy if it resumes breaking down.