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Gold/Mining/Energy : Gold Price Monitor

GDXJ 90.47

+0.5%

Nov 6 4:00 PM EST

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To: Rarebird who wrote (112612)	10/30/2020 1:37:14 PM
From: ItsAllCyclical	Read Replies (1) of 116752

Yea I try to do the same thing and currently ECPG probably has a forward PE of 3. Reports this Monday. Nothing has changed from last report when they spiked to 50 post earnings except TA broke down and there's no buyers and an air pocket on the charts. All of these stocks hold up well - until they don't. VIX around 40 makes this a dangerous market and it looks like the VIX wants higher levels before this is done. Gold may be stronger as a safe haven now, but as we get election certainty and/or vaccine news we could get ST selling. Not saying it has to happen but there are scenarios where gold gets hit. It was hit $100 on BS Russian vaccine so I'd expect the possibility of something similar in the US if/when news hits.

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