Thursday, March 27, 2014
A $BPGDM chart, and what does it even mean?
Here's the EMA of $BPGDM vs $GDM, weekly chart:
So I guess it's a good time to get out of the miners just a week or two after the weekly short-term EMA crosses the weekly longer-term SMA.
What does that even mean?
Well, I guess if the weekly EMA(10) of the $BPGDM bullish % crosses the weekly SMA(50), that means that people have been more bullish recently than they have over the longer term. That'd explain why the price goes up, but it'd also explain why it goes back down - there are longer-term holders who still want to puke, and so when the market flies up on shorter-term demand they have a way of getting out.
That seems a plausible explanation, anyway.