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Look at the technical indicators on this chart.RSI(8) seems to give you buy signals, at least. Standard MACD? Meh, sorta okay, I guess. A bit late, though - maybe if I ever felt like it ever in the rest of my life I'd bother to tune it to the right numbers (20 and 2 don't work that well since as I said it's late). And my magical EMAs are utterly frickin' brilliant.
But where the heck do you get any sort of signal from $BPGDM?
Although, interestingly....
If you look at the past week, $BPGDM was bullish all through the PDAC swandive. Since then? The past few days? It's all of a sudden slightly bearish.
It's as if all the goldbugs out there have been scared out of the market by a bunch of talk about "bear flags" and "the PDAC curse takes more than 3 days to happen" and... and... and so on.
So now it's like an empty room - the GDX, GDXJ, and SIL. No volume. You can hear crickets. Nobody wants to play there. Volume is zero.
I just find that interesting.
Hey, maybe $HUI'll collapse to 450. Or 300. Fine. Could happen. This week? I dunno. But if you think so, tell me - why hold any gold miner stocks at all? Even good ones?
Cause nobody knows what will happen for sure and in a bull market, you can be thrown out being really wrong at just one really important turn. Other than that it's steady as she goes according to best plans. Nibble here, sell a little there... raise cash, deploy cash... East Coast, West Coast... Wax on, Wax off.
ReplyDeleteOh and nobody said they 'think' 450 is coming. Who said that? I'll tell you what tho, if it does come I know somebody who is likely to be buying aggressively as BPGDM goes in the tank. ;-)
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