Wealth Creation Through Natural Resources
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
The correlation between gold stocks and the metal which they extract from the earth has been getting more unhinged recently and today reached an extreme with gold basically flat on the day while gold mining shares (GDX) were down 4.7%: … Continued
Resource investors should be encouraged by the first trading session of the new year. On a day in which the Dow Jones Industrial Average closed down nearly 300 points (down by more than 400 points at the session lows), precious … Continued
The Gold Miners ETF (GDX) has traded an enormous amount of volume in the $13-$14 price range during the last 6 months and the GDX enters 2016 experiencing some of the lowest realized volatility in history: GDX (Daily) This chart … Continued
A sea of green across U.S. equity markets today: S&P 500 Heat Map Perhaps most interesting was that gold miners (GDX) rallied nearly 4% as gold added $17/ounce: GDX (Daily) GDX has spent the 2nd half of 2015 … Continued
While the gold miners (GDX) continue to experience significant day to day volatility the ratio chart of GDX relative to the S&P 500 (SPY) shows a clean double-bottom pattern with a notable bullish momentum divergence: GDX/SPY (Daily) The October/November … Continued
The gold miners as represented by GDX have tested the ~$13 support level more than a half dozen times since July and thus far this support level has held every time: GDX (Daily) Forget seasonality, forget extreme CoT positioning, forget that … Continued
Despite the recent sell-off in the mining sector, mining equities’ valuations have not yet reached trough valuations that have coincided with recent market lows: However, a further sell-off over the next 1-2 weeks that brings the sector’s discount to … Continued
The gold miners (GDX) took a beating last week, losing 10% as market participants fled the sector out of fear that a Federal Reserve rate hiking cycle will continue to put downward pressure on precious metals. The technical damage was … Continued