Quite the day. True, a falling dollar was a tailwind, but the sector showed unmistakable strength today. Gold up nearly $50, silver more than 6%, and the HUI damned near 8%. Several of my miners were up 10-15% and two of them greater than 16%. It'll be interesting to see if we can carry some of this momentum into the weekly close tomorrow.
Gold ... nice pop. Into the next 'wall', 3 more to overcome before the horses are running free for a while. Short term overbought but the internals look OK. Will probably fudge around until late November with a bias to strength. ---> JMO DYODD etc...
This is where smart people fail, they always believe that they know better.
Trading is a tough gig, but if you have the right personality, including discipline, you are most of the way there. That is to say that the success factors are not what people would think they are... so true of many professions!
Surprised we haven't seen more give back today considering the big up day yesterday. Still early could crap the bed yet but Monday should be interesting. Tempting to dump here to try to reload lower next week.
Today is 90 days from the August highs in the miners most at least. Possible turn short term I think. While Gold has broken out Silver still has not. Some doji candles here and there next week early might bring good buying opps in some stocks. Nothing goes straight up.