Well there you have it, a $100 day move in gold, unfortunately it was to the downside.
While golds 5% drop is breathtaking, as always silver is never to be outdone, posting a 14.28% drop.
As to the Miners, yesterday I wrote the following:
Well the "clue" proved to be rather telling! The next support areas for GDX is the lower Bollinger Band at $38.01 and the 50 day moving average at $37.74.
Almost three weeks ago I mentioned a "gap" that appeared on the charts and noted the following:
"The miners posted an outside bar to the downside flashing a "sell signal". During the recent rise there were two "gaps" in the chart. Gaps have a tendency to get filled before the market resumes a rally. One of the gaps was filled today. The next gap is at $39.34 for GDX."
Today that "gap" at $39.34 was filled.
Does that mean the "hit" is over?
I know not what course others may take, BUT I never try to catch a falling knife!
However, if you are a stacker then today and the next few weeks just might prove to be a God send.
Peace out and stack on!
Hehehe... the nature of markets! STACK ON @handofzara 🥰🌺🤙
Unless you're a crazy Nunja!
I am no Ninja, but I sure feel like I am crazy sometimes, sis! I am just so glad that I was allowed some vacation days. Just catching up with my replies, as I am really so behind! Take care sis, @kerrislvaenhill 🥰🌺🤙
A chance to get in?
Ohh....I don't know if I want to go check my mining stocks now.....
Well...nothing sold....nothing lost Lol!!😀