Monday, 20 July 2015

11am update - another hour of horror for the bugs

Whilst equities remain stuck in the sp'2120s - with VIX 12s, the real action remains in the precious metals market. Gold -$27, with Silver -0.6%. The miner ETF of GDX continues to implode, -7.9% in the $14.20s.. the 12/10s look due.

Lets take a look at Gold and the miners.. but on the bigger monthly cycles...

GLD, monthly'2

GDX, monthly


The horror is indeed clear.. especially seen in the related mining stocks, most of which are -85/90% since 2011.

If you assume Gold $1000... do the math.... it will knock another 25% or so off most miners.

Aside from the mining stocks...notable weakness: DISCA -3.9%

CHK -2.4%, with Nat' gas -2.9%

strength: AAPL +1.8% in the $131s., FB +2%.. as the momo chasers are seeking the big $100 threshold.