Wealth Creation Through Natural Resources
Normally one would think that a 7.34% rally on enormous volume would be a bullish sign for a stock or sector. However, the last couple of times that GDX posted a huge rally on 120+ million shares price was considerably … Continued
At the Vancouver Resource Investment Conference last week, veteran junior mining analyst John Kaiser described the scene as a survivor’s ball. “This is the cream of the crop assembling into this place,” Kaiser said. He continued, “We will never, … Continued
One month into the new year the gold miners (GDX) are the 2nd best performing equity sector of 2016 (utilities are the top performing sector) with a 3.6% gain. However, considerably more impressive is the 18.15% rally in the two … Continued
While equities have stumbled out of the gate to begin 2016 gold has started the year with a bang, rising by more than 5%. The next big challenge for gold is the 38.2% Fibonacci retracement of the January-December 2015 decline … Continued
The gold miners (GDX) rallied for a 6th consecutive trading session today making for a 14.5% gain since last Tuesday’s all-time low at $12.40: GDX (Daily) In the last few years a six session winning streak in GDX has happened … Continued
Less than 24 hours after Jeff Gundlach uttered the following words “they have got to dial this [hawkish] rhetoric back or the markets are going to humiliate them.”, gold broke out above a level it had previously had some trouble with, … Continued
Gold in US dollar terms is making fresh 3-month highs this morning as it looks increasingly like a rounding bottom pattern was completed between November and January: Meanwhile, the gold miners (GDX) are rising for the 5th consecutive session … Continued
The gold miners (GDX) have spent 6 months bouncing along the bottom testing the ~$13 level: GDX (Daily) There are a few things that stand out about this chart: A huge amount of volume has been churned in the … Continued
Since gold and gold mining stocks took a precipitous dive in late-October there is only one large cap gold mining stock which has seen its share price actually rise: During the last 3 months ABX shares have actually gained … Continued
Gold and energy equity ETFs formed bullish engulfing candlesticks during today’s trading session after printing bullish hammer reversal candlesticks yesterday: GDX (Daily) OIH (Daily) The backtest results for a bullish engulfing candlestick in OIH are especially impressive … Continued