IKN

Take physic, pomp

Today Wednesday is turning into an important bellwether day for precious metals miners

Here’s the picture now, Weds mid-morning…
…as just after Jay Powell spoke and rattled the market, the SP500 turned South and has crimped the morning rally in GDX. All eyes on that ETF, if it can reverse and rally with gold today the cash moving into our sector of focus will turn from a river into tsunami. 
FWIW, this desk will be tape-watching today.

UPDATE: If you regularly trade these stocks and are not buying this afternoon, IKN can only assume you’re out of money already. Buy this dip in GDX, period.

Leave a Reply

Your email address will not be published. Required fields are marked *

Hello, you are not in a chatroom, you are in my living room. Opposing views and criticisms welcome, insults or urinating on furniture unwelcome. Please refrain from swearing if possible, it is not needed.