yep, ....the charts look horrible. and the momentum. Their argument is that if China was the reason gold stocks went up, and china has been tamed and lasoooed, then China is the reason gold stocks go down.
gdxj went from basically 30 (actually 28 at the lows) to 42.7....
many of these individual gold and silver stocks went up 50 to 70 percent on this move. AG a great mid tier siler stock doubled.
everybody is looking at 1450/60 as the halfway point of the 1350 3 year breakout but all of this is just who knows. How about if it hits 1460? How about if gold goes below 1460 because Trump announces with Xi a "temporary" agreement?
Wallstreet thinks it knows this: If DEMS and Hillary socialists get in office, gold goes over 2000; they know america will go crazy socialist.
So the stronger Trump gets, the less likely the lunatics will take over, the DEM peeps on tv, .......so they are so crazy, WALLstreet is betting they have no chance.
SO THIS IS THE SAME INFO CHINA IS GETTING BY THEIR SPIES AND pacs. ....
WHICH MEANS, amazingly, that China is getting weaker, as TRUMP gets stronger, and the odds of him winning are without any doubt getting stronger by the day.
commodity stocks in oil and metals and every other kind of commodity get the heck beat out of them for so long.
If the world structures appear to be good led by America, gold gets killed
If gold has been on a 3 month tear, gold gets killed
if the dollar goes up, gold gets killed
sheat phouck
I am sure the financial industry knows this and does not tell people but Richard Russell, the greatest man of the last century who was in the stock market for over 60 years, said that stocks exist so that retail people give their money away to wall street....He saw 50 bull and bear markets in everything that exists....
Peter Marrone the CEO/ board chair of AUY, a senior gold producer, was himself his whole career a financial guy. He got a hold of Yamana gold when it was 2.3 bucks 20 years ago, and the stock went to around 15 bucks a share. He is good people, owns millions of shares, and has put his family into his company. Today Yamana is around 3 bucks, something like that, I forget.....so for 20 years, his company has done nothing, and it is considered a good company, with many others having gone by the wayside. gold sucks unless they are giving it away. The stock market is a loser game for retail.
so many other companies like Peters..............
I am just gonna wait for lower prices if they come down. The fact is this: only about a small percent of the largest companys, basically tech companies, have done well the past 3 years......everybody else is up a little bit of way down or way way down......These indexis do not tell the tale of most companies.
I would estimate: 20 percent of the S and P is up a lot; 20 percent is up a little, 20 percent down somewhat, 40 percent down a lot and non S and P, the figures are far worse, with over half down a lot the past 3 years....well over half down a whole lot. This is a deceptive bull market as everybody knows. It is not really a bull market. Bio companies have gotten squashed, with only the top 20 percet having gone up a whole lot....the rest are under water.
just like commodity companies. And I know the stock market. Have made hundreds of trades in 50 companies and 20 industries the past 3 years.......America is down the market unless you picked the top FAANGs basically. and many are down hugely..........
