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Monday, July 4, 2016

re gold miners


I was looking at a few gold junior charts today, and have seen something interesting.

When someone comes out with a buy reco, the gold stock pops... but then it bases at that new price.

For the past few years, a reco spike would be followed by a slide back down as the existing bagholders sell into strength. Now it looks like they're willing to hold at any new price.

I guess that's what bull market behaviour looks like? I mean, it's been so long.


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