AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
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Miners bootomed ahead of gold             so I think it's very important to follow the miners before we talk about gold             .
We printed a classic cup and handle pattern. After the big volume shakeout on 04th October (1) sellers clearly were drying up (2).
We a had a few days consolidation as a fight at the 200 SMA on average volume at the bottom of the cup and above average volume we broke above the 200 SMA and 10 EMA on the 18th October (3).

During the last 3 days we are not just holding the gains above the 200 SMA and 10 EMA but also printing a low volume pullback as the handle of the cup. The daily close was printed above the 20 EMA . When volume comes in next week we are going to break out of the cup&handle pattern.

The next 2 important confirmation that the bottom is in:
-the gap fill between 25 and 26$
- and the 10 and 20 EMA crossover
Comment: Enjoy the Bear Island guys!
Today we will get our island reversal.
Comment: Bear Island postponed.
There is not going to be one more leg down....
Just ignore the shortmen's post below.
GDX is testing back the 200 SMA on low volume again.
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Comment: GDXJ - which is overperforming GDX - is just testing back the 10 EMA
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Comment: Thats the problem with the contrarians.
It's is easy to troll and scare the sh... out of ppl when price is moving against them like yesterday. I was posting and explaining when GDX and GDXJ was breaking down.
But I would like to ask where are you now when price is moving against you?
We we are waiting for your chart and explanation whats happening ?
Hi Arpi !

You did great job continuing holding JNUG ,it seems we will open with a huge gap since GOLD is up 3.5% . Unfortunately I got out on monday from JNUG ,took some profit because didnt want to see all my position sink if clinton would wins..

Now I want to reenter and buy JNUG if you think it will ride untill the end of year.. Should I enter at the opening or it will have a correction down before?

(I am a lso waiting for your update on UGAZ ..)
You are great !!
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Hi, any updates on this does this move contradict with the idea you presented?
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Will the (black) trendlines (or higher levels) hold or are we to complete the channels bouncing here?

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+1 Reply
webmiztriz PRO VirtualFax
nice job ,,,
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Anybody have a guess as to why miners are under performing today?? Hope they don't know something we dont...
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VirtualFax TexasTower85
GDP not so favourable for Gold? DXY to hit the upper border of the channel at $100.50?
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jolu TexasTower85
i also dont realy understand as long as gold is doing quiet good..
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hi arpi
did you notice the last 6 days including today we are one day up and next day down by approximately the same level ...
until when you think it will continue in your opinion? maybe we can try take profit and buy lower.
we are holding above the 10 EMA..
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Selling on strength numbers were pretty high for GDX and GDXJ. Might have a retest scenario brewing as you mentioned on your gold thread. Sold half my NUGT and will watch for a re-load in a few days. Nice profit so far. Thanks!!!
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I agree with Arpi's premise. Opinions are just that, opinions. Somebody said opinions are like belly buttons... Everybody has one. Muhammad Ali once said. "It ain't bragging if you can back it up." So guys, back it up... It helps everybody if you show your evidence.
+3 Reply
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