Wealth Creation Through Natural Resources
Gold is down ~$30/oz and the gold miners as represented by the GDX are taking a beating to the tune of nearly 7%. Investors are beginning to ask themselves some important questions such as, where is the next area of … Continued
In June we highlighted 10 stocks that were at the top of our list as potential takeover candidates and which in our estimation had plenty of upside still available to them. So we thought we would update this post with … Continued
Simple is usually more effective. The following line chart of GDX simplifies things and highlights the important stuff (trend and relative strength): GDX (Daily) Important observations from this chart: Trend is clear, from the lower left to the upper … Continued
April 15th, 2013 is a day that gold bulls would like to forget, but likely cannot forget. After nearly 3 1/2 years the GDX is on the verge of revisiting ‘the scene of the crash’ by way of filling the … Continued
The 2016 gold mining bull market is one for the record books. The rally which began not even six months ago has seen the GDX rise ~150% while many individual gold miners have risen 500%+. Meanwhile, the move in gold … Continued
The gold mining sector is emerging from a five-year bear market that saw valuations collapse by nearly 90%. During the last few years, companies slashed exploration budgets and M&A within the sector dropped off substantially. Most gold miners were focused … Continued
Many senior gold producers hit fresh 52-week highs early in today’s trading session. However, there are some early warning signs that the gold mining sector is beginning to experience some exhaustion. While the miners have continued to move higher, 3 of … Continued
Tuesday’s big sell-off in gold with a break below the 50-day simple moving average and key support near $1250/oz looks to have generated a significant liquidation in what was a couple weeks ago a near record net long position by … Continued
The gold miners got hammered today with a 5.51% sell-off in the GDX on relatively heavy volume. However, an interesting fact is that GDX has a pretty good track record following 5%+ one day declines. In fact the last four … Continued
The gold miners took a beating today in the form of a 7.90% decline on more than 2x average daily volume. Aside from the already mentioned bearish implications of a decline of this magnitude, the backtest results for declines on … Continued