rgjack,(Crash Indicator)
RGLD is one of my "indicator" stocks for the sector and a favorite trader. The following has no bearing on that.
Hard down across the markets yesterday and today has set off my "Crash Indicator", which expects Three Black Crows at least, with Monday being a (potentially large) down day.
The bears appear to be sleeping, I don't see that many bearish comments, and that adds to the issue.
As gold stocks are often, but not always, effected in a negative fashion somewhat during large sell offs, I have reduced my holdings. Also frees up dry powder for whatever bargains there are next week.
This is not a recommendation to sell or any advice whatsoever, just my own system and actions. There are times when (98 comes to mind) the gold stocks just sit there during a crash and don't do much of anything, in which case my reduction in holdings is neutral at best.
Consequently I remain long some PM stock, but at reduced levels.
Best of luck,
Roebear |
