Here’s the scene as of 1 hour into Friday. It’s been a rough ride for GDX lately but yesterday’s action initiated a BUY signal at the open for a nice pop. The GDX signal is actually a bit divergent and a cross back over the zero line will be our first exit trigger. Today we’re seeing some follow through to yesterday’s positive jobs report on the broader markets although expect some volatility as the last trading day of the year has been red the last 9 out of 10 years. Many historical studies have proven painfully wrong this year but it’s worthy of note regardless. TLT has been curiously unbeat the last 2 days perhaps driven by TLT’s dividend payout next week and the need to be a record holder a trading day ahead to collect it. This situation may reverse dramatically next week.
Have a great New Year…hopefully healthy and prosperous.
