Weak Hands Selling to Strong Hands in This Sector
Guess who is going to profit? Listen in!
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.
and the GDX
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"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