If you came into the week long Gold, you are winning. Gold is in the process of a multi-year breakout and the gold miners continue to litter our momentum screen. Just take a look at the move in $GDX here, as well as the rest of Monday’s movers: CLICK HERE FOR CHARTS
Just take a second to take in this $GLD chart, look at this beautiful chart, LOOK AT IT:
____
Besides precious metals there are a few names worth watching from today’s screen. $EA made today’s list as did $AVTI, I guess you could say video games are the new gold, kid’s gold for sure. I also like this recent iPO, $GO— it is a must watch here.
And, for Exodus users, The Fly has a new UPWARD MOMENTUM screen to bookmark. Check it out HERE.
See you guys at the open…
If you enjoy the content at iBankCoin, please follow us on Twitter
Yes, good for Gold if you are trading the futures market but to me the gold miners are flashing caution to the highest degree.
Using GDX (miners etf) as a reference one can see that the latest gold rally is barely a blip. Going back to the GLD chart one can see that the price of GLD was about the same in the Fall of 2011 as it is now, but the GDX was double then what it is now. I have been trading the miners since the early 1980’s and the miners have always led the physical by 4-6 months, both up and down. In other words, caution on the miners.
https://www.marketwatch.com/investing/fund/gdx
https://www.marketwatch.com/investing/fund/gld
What up TraderCaddy! Good to see you’re still here. Agree with you, hard to enter right here.