source: www.stockcharts.com
As the chart shows, since the top, printed in early August 2016, GDX went down by around 41%. Then, in middle December 2016, precious metals stocks rebounded.
Well, technically speaking, the medium - term downward trend is not finished. In my opinion, GDX has to break above $22, the price level at which huge amounts of stocks changed hands during the ongoing correction. So... be patient.
On the other hand my 2017 Top Five Portfolio works quite well. Since its inception (December 12, 206) it returned 7.0%. I know, it is not much but still it is more than the return delivered by GDX (4.8%):
Generally, the idea is that in the long - term the portfolio should deliver higher returns than the broad precious metals stock market, represented by GDX. The two - week period is an ultra short - term period but still...the return is promising.
Those interested in my 2017 picks should visit the section "Top Five 2017".
This and next month all mining companies should publish their 2016 results. As promised, the subscribers to the portfolio will get my survey of results delivered by all five picks plus some additional stuff.
No comments:
Post a Comment