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A focus on GDX and GDXJ after the drop yesterday

Cory
February 28, 2017

Rick Ackerman kicks of today with a focus on gold stocks in general. The gold stocks have been trailing gold over the past couple weeks and yesterday we saw a pretty major sell off. That makes it a good time to reassess what the future holds for gold stocks in terms of Rick’s technicals.

As mentioned in the interview Rick is holding a free informational webinar at 1pm EST today. Click here to sign up!

Click download link to listen on this device: Download Show

Discussion
12 Comments
    BDC
    Feb 28, 2017 28:39 AM

    Bill: “Friday’s Hanging Man in GLD was followed by [Moday’s] Shooting Star. As a fair representation of the Gold metal, this suggests a test of January lows, which should not happen if the miners are entering an accumulation phase. An enigma.
    http://www.stocktipster.net/index.php/2017/02/27/monday-report/

    CFS
    Feb 28, 2017 28:04 AM

    NEW YORK (AP) — It keeps getting cheaper to invest.

    Fidelity on Tuesday became the latest company to cut its fees in an ongoing industry battle that’s helped mom-and-pop investors keep more of their own dollars. Rival Charles Schwab matched the price cut in a matter of hours.

    Fidelity said it will cut its commission for retail brokerage investors trading U.S. stocks and exchange-traded funds online by more than a third to $4.95 from $7.95, among other fee cuts. Fidelity is the country’s largest online brokerage firm with 17.9 million accounts and $1.7 trillion in client assets.

    It was only earlier this month that Schwab cut its base commission for online stock and ETF trades to $6.95 from $8.95, a move that many investors anticipated would lead to a pricing war. Just hours after Fidelity made its announcement, Schwab said on Tuesday it will drop the commission to $4.95, which matches Fidelity’s cost.

      Feb 28, 2017 28:13 AM

      CEDE & Co……mom and pop better wake up……when the music stops, who has the shares.

      BDC
      Feb 28, 2017 28:18 AM

      Now if they would just destroy the
      “Three Day Settlement” scam.
      Electricity just isn’t that slow…lol.

    Feb 28, 2017 28:15 AM
      Feb 28, 2017 28:41 PM

      Everyone, cross their fingers.

    Feb 28, 2017 28:21 PM

    Amazing how negative sentiment has gotten within the last 72 hours. What does tht tell you Matt?

    Feb 28, 2017 28:22 PM

    Maybe the up move has another 80-90$ to run.

    Feb 28, 2017 28:56 PM

    Going to buy the Russell 2000 Small Cap 2x ETF symbol UWM here at the close. It’s down 2.91%.

    Gold ETF GDX has moved over 3.3% from $23.42 high down to $22.64 then back up over where it closed yesterday @ $22.81. I’m still holding my GDX to see how it trades on Wednesday.

    President Trump speaks tonight(Tuesday) @ 8pm CST. Will be watching the futures as he speaks.

    Feb 28, 2017 28:00 PM

    Commodities did well today especially Coffee ETF symbol JO, Soybean ETF symbol
    SOYB and Wheat ETF symbol WEAT. All up over 1%.

    Feb 28, 2017 28:52 PM

    I really appreciated this commentary today with Rick Ackerman. Thanks for sharing those targets for the upside and downside in GDX, and I agree these markets are frustrating, but I’m hard pressed to remember when they weren’t. 🙂

    Regardless, I just wanted to take a moment to thank Rick for his daily input. Always good food for thought.

    Feb 28, 2017 28:45 PM

    +1