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snider

422 Posts.

10/10/14

07:43

Post #: 14103784
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Originally posted by Skol ↑

Here's an interesting piece of info for goldbugs to get their teeth into. In the last 2 years the GDX, GDXJ and HUI have all fallen between 60% and 70%, and there's another rout last night.

2 years ago gold was $1760 (about the time my buddies Andy and Ophir were 'backin' the truck up), if gold was down the same amount it would be $704 (60%) to $528 (70%).

Sounds about right, the fun's only just started.

A chart technician recently stated that triple bottoms aren't to be relied on, and the more they test it the more likely they are to penetrate lower.

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Hi Skol,

Do you mean like the triple bottom that just occurred on the Dow this week?

snider
3 Upvote

0 Great analysis

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