From Jeff Clark in Growth Stock Wire:
Gold stocks are finally showing some positive price action.
The Market Vectors Gold Miners Fund (GDX) is up 8% in the past week. It was higher
yesterday even as the broad market declined… And even though gold was down on the day.
It appears gold stocks are finally starting to outperform the action in the metal itself.
Take a look at this chart comparing the action in GDX to [...]
Notice that during last week’s brief pullback, the NY Composite pulled right back to the 21-day EMA twice and held.
And, we closed at new highs for the move on Friday.
QQQ is still outperforming SPY:
If the short interest is as high as Tyler says it is, then if the EUR gets another huge squeeze, that is going to send all Risk Assets of every type, race, color, sex, and ethnic origin up [...]
This morning, gold and gold mining stocks are taking off to the upside. The popular Market Vectors Gold Miners ETF(NYSE:GDX) is trading higher by $1.64 to $66.55 a share. Traders must watch the $66.50 and $67.00 levels as short term intra-day resistance. The daily chart on the GDX continues to remain very strong, however, the GDX is starting to get a bit extended and overbought. Whenever, stocks or ETF’s get [...]