Gold Miners ETF (GDX)

[tootalljones]

I know I did, maxing out, when gold blew threw 1850, I did a typical about face and bought with both fists gdx. I have another much smaller account to contribute on monday or tuesday, whenever the funds are made available. Sometimes you feel you don't know whether you are coming or going. The next stop is a major one, and that is POG 1900. All of the majors in this index are locked and loaded, with excellent balance sheets. It all falls to the bottom line now for all of them. The second biggest component of gdx, which is Barrack, second to NEM, says they make 1.5 billion annually per 100 move in the price of gold. If this darn thing can hold 1850, which is thought to be major barrier/support...........it could get scary.
Friday may have been the most important day for gold miners in quite a few years, since gold broke through 1360 about 3 years ago...............maybe the plane is ready to move up to new highs. but first get through 1900. There is so much cash sitting now on the sideline, that if just a small bit of that goes into GDX, the thing could double overnight.
another important factor is crypto. ....I have said for years that GOLD and the miners won't really get their mojo back until crypto largely fails. and it is.