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Strategies & Market Trends : Ride the Tiger with CD
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To: stuffbug who wrote (240146)2/6/2016 12:08:24 PM
From: stuffbug  Read Replies (2) of 313020
 
GDX Movements since the end of the Bull Market in 2011









Week Ending Direction Weeks Low / High % Move Comments

9-Sep-11 66.98

7-Oct-11 Down 4 50.42 (24.7)

11-Nov-11 UP 5 63.69 26.3 Lower High

30-Dec-11 Down 7 49.22 (22.7) Lower Low

3-Feb-12 UP 5 57.94 17.7 Lower High

18-May-12 Down 15 39.08 (32.6) Lower Low

8-Jun-12 UP 3 48.72 24.7 Lower High

27-Jul-12 Down 7 40.4 (17.1) Higher Low

21-Sep-12 UP 8 55.25 36.8 Higher High

28-Jun-13 Down 40 22.21 (59.8) Lower Low

30-Aug-13 UP 9 31.35 41.2 Lower High

27-Dec-13 Down 17 20.24 (35.4) Lower Low

14-Mar-14 UP 11 28.03 38.5 Lower High

30-May-14 Down 11 21.93 (21.8) Higher Low

11-Jul-14 UP 6 27.78 26.7 Lower High

7-Nov-14 Down 17 16.45 (40.8) Lower Low

23-Jan-15 UP 11 23.22 41.2 Lower High

13-Mar-15 Down 7 17.29 (25.5) Higher Low

15-May-15 UP 9 21.25 22.9 Lower High

11-Sep-15 Down 17 12.62 (40.6) Lower Low

27-Oct-15 UP 7 17.04 35.0 Lower High

22-Jan-16 Down 12 12.4 (27.2) Lower Low

UP 17.12 38.1 Higher High











Current bullish move is 38.1% UP from the January 19th low.
There have been 10 other UP waves since September 2011 and only 3 had a higher percentage move (38.5, 41.2 and 41.2).
This is only the second time that GDX has taken out the previous high.
The earlier occurrence in 2012 capped an A-B-C correction of the first primary wave down.
GDX weekly volume this past week was the third highest.
Institutional money started to pour into GDX during the latter part of the week.
The initial thrust was due to short covering - all those Gold Gurus (and their subscribers) calling for one more down leg after the September low was briefly taken out ended up with fried shorts.
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