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Poppycock

Poppycock
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  • Gold Miners Are Poised For A Rebound [View article]
    Judging by the author's hyper-cautious conclusion, "current market downside is present and the bear market for gold and the gold miners could remain for some time," it's hard to square this with the story headline which reads, "Gold miners are poised for a rebound." If you wait long enough, just about every market or commodity that's down will eventually rebound.
    Jul 8 12:15 PM | 6 Likes Like |Link to Comment
  • Does the surge in gold mining stocks mean the bottom is in? Gold futures finish flat after a two-day climb, but the big story in recent sessions hasn't been the physical gold as much as the miners. The mining ETF (GDX +3.9%) is surging nearly 4% today, but that's after a ~20% YTD selloff. Today, miners are broadly higher: RGLD +4.5%, AEM +4.3%, ABX +3.9%, KGC +3.8%, GG +4.1%, NEM +3.3%[View news story]
    All the gold miners as well as the related indexes have extremely bearish charts that have broken down completely in recent days. Today looks like no more than a dead-cat bounce from extremely oversold short-term conditions. The correction still has more to run.
    Mar 7 06:04 AM | Likes Like |Link to Comment
  • Does the surge in gold mining stocks mean the bottom is in? Gold futures finish flat after a two-day climb, but the big story in recent sessions hasn't been the physical gold as much as the miners. The mining ETF (GDX +3.9%) is surging nearly 4% today, but that's after a ~20% YTD selloff. Today, miners are broadly higher: RGLD +4.5%, AEM +4.3%, ABX +3.9%, KGC +3.8%, GG +4.1%, NEM +3.3%[View news story]
    Both the individual gold mining stocks and the related indexes are still extremely bearish, having recently broken their 200-day moving averages. Today's big bounce looks more like a reaction to the heavy selling and shorting of recent days, but not more than that. The correction has more time and distance to go.
    Mar 7 06:02 AM | Likes Like |Link to Comment
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