Weak Hands Selling to Strong Hands in This Sector

By: readtheticker | Thu, Apr 3, 2014
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Weak Hands Selling to Strong Hands in This Sector

Guess who is going to profit? Listen in!

Previous posts on the subject
Gold mining stocks have yet to attract the institutions
The Big Channels - Gold
Is it time to buy the Gold Miners?
Gold stock chart says odds are good

In a previous post it was stated that institutions are not buying the gold miners (reviewing the Newmont Mining (NEM) chart) maybe that was not correct, as below shows they are sure buying the GDX Etf. So maybe NEM is out of favor! ?? Gold stocks like ABX and GG show good volume surges similar to the GDX. The large volume in the GDX is not a result of mom and pop investors, this volume surge is an institution foot print.

If the pattern is DIA was bullish, what do you call the price volume pattern in GDX then, explosive maybe! Massive accumulation is going on, weak hands are been cleared, as strong hands are loading up. This does not mean the final low is in for GDX, but you can assume it is very close.

The DIA

DOW ETF

and the GDX

Gold Miners ETF

NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

Investing Quote...

"Don't trust your own opinion and back your judgment until the action of the market itself confirms your opinion." ~ Jesse Livermore Trading Rule

"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." ~ George Soros

 


 

readtheticker

Author: readtheticker

readtheticker
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Source: The Contrarian Take http://blogs.forbes.com/michaelpollaro/
austrian-money-supply/