Monday, April 21, 2014

And the Gold Miners I Follow Ended Up Today Because ...

We have some gold miners left in the Gold & Resource Trader recommended positions.  This itself is noteworthy because we were stopped out with gains on so many, and with losses on a couple.

Anyway, they went up today. Today, on a day when gold as tracked by the GLD did this ...

(Updated chart)

You can see that gold not only fell, it fell below its uptrend.

And yet my gold miners are up. Meanwhile, checking on the GDX and the GLDX, they are down, but both outperformed the GLD. In fact, they had the kind of reversals during today's action that points to higher prices tomorrow.

So why are miners outperforming gold today?  That's the million-dollar question.

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