Friday, May 16, 2014
GDX and GDXJ look unhealthy
Breaking $23.50 to the downside is kinda bad.
Wow, losing $34.50 would suck!
What's the problem? Is gold losing support?
Well, gold doesn't really look that bad. So I don't get it.
Maybe everyone just thinks there's going to be another run of the gold stops, since gold has been hammerblowed at 8:30 AM each of the past two days?
Or maybe the guys who were playing gold miners as a proxy for a Modi victory are unimpressed with how their position played out, and are dropping in disgust?
Or maybe, simply, potato.