While Spot Gold has been on a tear. Gold Stocks has been a laggard.
The question remains is Spot Gold over valued and Gold Stocks under valued
or vise versa ??
With Gold Stock lagging behind, is there casue for concern that spot Gold is oushed up
by speculative funds or hedge funds that genuinely has no where else to go ?
http://www.streetauthority.com/energy-commodities/simple-chart-says-gold-stocks-could-soar-458504
Technicals of GDX :
Monthly Chart :
. Double Top
. Bearish Divergence on Price/Stochs
. Prices out of Trend Channel.
My take is that Gold is too feverishly hyped out and will correct deeply.
While Gold Stock is actually reflecting the real value of Gold instead !
I am taking the side of Soros who allegedly sold his Gold ETFs.
While the rest of the Gold bugs are just plain lucky.
So I expect Gold Stocks and its ETF equivalent to correct with Spot Gold.
Instead of playing catch up ....
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