Friday, September 25, 2015
GDX chart - interesting
GDX has been banging into the SMA(50) for the past month, then falling back. And the SMA(50) is a magical TA line with mystical properties.
There's been nice volume down at this level too. GDX and the miners now have a bunch of new holders who are in at a lower price, and that's good for the market in gold miner stocks.
My own oogity-boogity rule is that the third time something happens, it'll end differently than the first two times.
It might be a great place to get into GDX if you think the miners are done crashing!