A focus on GDX and GDXJ after the drop yesterday
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.
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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 $4.95, which matches Fidelity’s cost.
CEDE & Co……mom and pop better wake up……when the music stops, who has the shares.
Now if they would just destroy the
“Three Day Settlement” scam.
Electricity just isn’t that slow…lol.
XAU daily with Schiff fork and Fib retracement levels:
http://stockcharts.com/h-sc/ui?s=%24XAU&p=D&yr=1&mn=0&dy=13&id=p94074607152&a=505393965
Everyone, cross their fingers.
Amazing how negative sentiment has gotten within the last 72 hours. What does tht tell you Matt?
Maybe the up move has another 80-90$ to run.
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.
Commodities did well today especially Coffee ETF symbol JO, Soybean ETF symbol
SOYB and Wheat ETF symbol WEAT. All up over 1%.
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.
+1
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/