Franco Nevada leading the gold miners (again)

Franco Nevada stock (FNV) leads again

Early in the year we noted that FNV would lead them. Sure enough, it did; to a strong, tradable, but ultimately failed rally. Then we managed the low perfectly in September, before asking once again whether it could lead a new rally.

Answer? Yes. FNV took out the moving averages, tested them as support and dinged a new high yesterday before the machines that rampaged through the markets selling the CPI news reversed it. But at this point, it’s rally still ‘on’ and personally a completely open mind about the gold stocks, given the big picture bullishness of gold and even the miners as well.

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