Monday, June 27, 2011

GDXJ-GDX Ratio still degrading...

This one didn't make it into NFTRH142, so here it is now. Theoretically, it is a leading indicator for the precious metals stocks and in dropping below the MA 200, it cannot be read as anything other than sucking. Taken with the balance of data we have been following, the argument is for the real buying opportunity still laying somewhere down the road.

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