I created Exodus in 2008 to analyze and test key levels for over 4,000 stocks and 200 industries. Ever since our algorithms have been running, the gold mining sector has never been this oversold.
Observe our hybrid oscillator, which tracks both technicals and fundamentals of every stock in the gold sector, which then determines if said level is at a critical stress point.
Here is that same oscillator, but over the past year.
Today is Fed day. Expect the Fed to raise rates and offer a slightly hawkish outlook. Anything short of hawkish will spur an immense rally in gold. Taking into consideration the 18% median drop in gold miners over the past 3 months, I think they’re well worth the risk here and would be buying them hand over fist, had I not already owned a bunch.
I am long $GLD, $AUY, $ABX and $AU.
Also, and this is worth noting, gold has performed exactly how it always does during the Fall — trade lower. Based upon Exodus‘ seasonality engines, heading into the winter months may prove to be a wellspring for the maligned sector — a counter reaction to the recent surge in risk on assets.
PUBLIC ANNOUNCEMENT: For the first time since 2012, the price for an Exodus membership is rising, for both annual and semiannual durations. All current members will be grandfathered into the cheaper rates, before prices rise on 1/1/17. If you’ve been on the fence, now is the time to join the league of gentlemen and gain access to the best damned market intelligence platform out there.
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what’s with this finance talk!?
I come here for clarifying political analysis
And if Fed even mentions “dollar strength” today …fireworks for gold/silver
The war on cash includes gold. Gold is oversold and will continue to sell off. If you want an asset to hold cash in that will give you a return, then buy bitcoin.
Looks like it’s going to get oversolder.
Gold miners will go the way of coal miners… el busto.