http://chart.ly/users/PeterLBrandt
Not me! Even my long-term trend following model says that GLD commenced a new downtrend this week by closing below the lower channel boundary. So much for bullion. Gold mining shares have been much weaker than bullion for a long time. Gold mining etf, GDX is down 36% from the peak while bullion etf, GLD is only down 16%. Last week the K-Ratio hit .25, signaling that gold mining shares have become undervalued in relation to bullion. Both could fall for a long time, but on the next upswing, gold-mining shares will be the vehicle of choice because they could be much stronger than the metal.
No comments:
Post a Comment