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Gold/Mining/Energy : Gold Price Monitor
GDXJ 33.52-0.5%10:00 AM EDT

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To: Sun Tzu who wrote (115244)11/23/2021 12:46:35 PM
From: Rarebird2 Recommendations

Recommended By
rdkflorida2
Sun Tzu

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What took place in regard to Gold is typical: lots of stocks have strong breakouts and then retreat into their own range shortly thereafter. I went through this with AA, which broke out recently with an 11% daily gain, only to fall back within its old range. But now the range has extended. I am up a bit, nothing special. I am long a number of stocks that go up/down 5% on a daily basis. Their daily range is sometimes 7-8%.

In the case of Gold, I think you were wise selling. I say this because Gold is a momentum trade and the momentum was broken today.

I am long stocks that trade within a box of 15%. They hold the range for months, then boom!! It is all about your time horizon and how you size up the company, fundamentally speaking.
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