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Sunday, December 18, 2016

Is gold in a bull market?

My thoughts:
An undercut of the $1,045 low with GDX diverging and not breaking its early 2016 low would be a fantastic tell, although there are many other permutations as well.

And yeah, watch for "Smart money" to accumulate 3X leveraged funds which decay annually at the rate of at least 40% if the market stays flat. Because that is what the "smart money" which has a hard time making 15% a year, every year, does. It gives itself a good 40% headwind.

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