Tuesday, March 19, 2013

Mining for a Blue Light Special

Based on its momentum signatures and their congruence to the comparative - I pulled forward the GDX:GLD ratio a few weeks. 

The long and short of things: the perceived value in the miners in January (see Here), that bled cheaper in February (see Here) - appears poised for markdowns once again.  
Here is the original fit with today's GDX:GLD ratio. In either case, and as I have stated before with respect to the recent trends in the currency markets - utilizing oversold metrics such as RSI and sentiment can be traction-less strategies in this environment. 

For further context, see: