Agree.
There are 3 factors at play here in my opinion.
1. The GDX/J rebalance. A few weeks to go.
2. Tax loss selling. A few weeks to go.
3. Gold. My opinion is a few have been burnt here with the large gold range over past 12 months and it is a bit like the old sane once bitten twice shy. When gold breaks through 1300 convincingly you watch all the pundits jump back in. According to Michael Belkin who advises pension funds / hedge funds etc these guys have very little exposure (underweight) gold equities.
Patience will be rewarded here IMO.
Breakout, page-98
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77.5¢ |
Change
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Mkt cap ! $1.650B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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