The Philosophical Porch Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : The Philosophical Porch

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Real Man who wrote (6992)	12/8/2014 2:16:12 PM
From: Rarebird	Read Replies (1) of 26251

October is institutional tax loss selling. The period from after Thanksgiving till near the end of December is retail tax loss selling. Hedge funds are well known to get on board in the direction of the trend and accentuate the move, to say the least. Insiders are buying the Miners aggressively; but that means squat short term. Leveraged Gold Mining ETF's, which are only suitable for day trading, also help to elevate volume. I'd be more concerned that GDX did not confirm last weeks bullish price action in the gold market. Moreover, with the steady upward climb in the USD (since the late summer), sentiment in regard to gold mining equities has continued to plummet. Gold/XAU ratio is over 17. In early November, it was over 18 and pricing in $300 US POG. What I am looking at is extremely irrational. What is needed for a new gold mining bull market to emerge is a sustainable move down in US equities or sustainable outperformance of non-US equities vs US equities.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next