Been a brutal time for Goldies despite being at 2400aud-2600aud range. TBH i don't know why i am in this sector. Having a few huge PnL moves in 16, 19 into 20, sorta justifies it. Lucky i took profits, but not enough. I tell you what though, now isn't the time to be selling, that boat has passed.
From covid lows, Jnrs with possible mines, GBZ,CHZ, MZZ and even AXGD have all followed the GDXJ. And actually XGD miners have performed just as bad as the jnrs. EVN, RRL, RSG, NST etc. So it's sector specific.
Gold miners sentiment index is 13%. Only lower in the last 8 years during Covid crash.
Gold miners under 200 is at the lows also
each of these events has marked a short low
GDX chart has strong support at 24-25 so 10% downside left is possible.
Overall sentiment is dead and prices are off 75-90% in some cases from the highs. Let's see if we are at a turn low around here.
Fingers crossed Pete pulls off the deal, he certainly has put his money where his mouth is, now just needs to execute.
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