Gold stock sentiment indicator.
What a difference a day makes.Gold powers through US$2,000 and A$2,800.
The short squeeze should be on in earnest.
Silver up another 6%.
I have been busy buying up gold juniors over the last three days. About to pay off.
Overseas indicators were slow to move but once gold hit $2k, indicators climbed quickly to close around 5% higher.
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Given the recent grind lower for Aussie gold stocks, these could perform even better.
Some of our better producers have fallen by 10% or more. Can easily see new highs before the week is out.
Stocks like EVN are coming off a double bottom, close to trend, on a buy signal (will post on EVN thread).
This is such a beautiful set up that I believe we are in for an extended run in gold and stocks.
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In my search for bargains, I could not help but notice how many (quality) juniors have had 30-50% pull backs.
These same juniors are cashed up and implementing drilling programs.
Nothing like watching news flow coinciding a change in sentiment for gold stocks.
Most countries, in spite of COVID, are allowing the mining sector to get back to work though I consider sovereign risks to be elevated as economies collapse.
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The sentiment indicator is doing its’ job and now appears to have a clear technical trading range.
The only issue I am having with the sector is how short the cycles are.
Makes life a little more difficult but if you get the timing right…
The indicator is down a little and leading indicators were relatively neutral near 50%.
.Here is the indicator.
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