Gold Sector Sentiment Update

By: Jordan Roy-Byrne | Thu, Apr 8, 2010
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Over the last few weeks we've been writing about potential macroeconomic developments, which will drive Gold in the near term and in the years ahead. We thought we'd take a break from that and focus on what we enjoy most: analyzing technicals and sentiment.

We track many different things for sentiment (including public opinion, Rydex data and of course the COT reports). Yet, the most powerful tool has been put-call data from the International Securities Exchange (ISE).

Below is our chart showing the ISE put-call data for GLD. In the last month we've seen several spikes and we should note that the 15-day MA of the put-call ratio reached a four-month high.

GLD Put-Call Ratio

Next up is a look at the GDX put-call. Note the two large spikes at the time of the February bottom as well as the buoyant activity in recent weeks.

GDX Put-Call ratio

Here is a look at the cumulative put-call reading. This is a sum of the options activity for all of the gold stocks we track. There was a small spike during the February bottom and larger spikes at the recent low. Also the 10-day MA was at a seven month high.

Cumulative Put-Call Ratio For All Gold Stocks Tracked

This is only a small sample of the kind of actionable information and analysis we provide in our premium service. As you can see, the ISE put-call data, among other things has helped our subscribers stay ahead of the short-term trend changes in the sector. If this interests you, along with complete coverage of large cap and junior gold and silver miners, then consider a 14-day free trial to our newsletter.

Good luck ahead!

 


 

Jordan Roy-Byrne

Author: Jordan Roy-Byrne

Jordan Roy-Byrne, CMT
www.thedailygold.com/newsletter
www.trendsman.com

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