Miners cool for a third month

The gold miner ETF of GDX ended the month on a significantly positive note, settling +54cents (1.5%) to $37.49, but that still made for a net October decline of -$1.67 (4.3%). Despite a third month of cooling, the miners remain long term bullish with Gold and Silver.

GDX, monthly

 

GDX, daily

 

Summary

A third consecutive net monthly decline for the gold miners, pressured by a weak main market, higher bond yields, and the dollar. The s/t outlook is bearish to the $34/33s, where the 200dma and monthly 10MA are lurking. More broadly, having already cleared the 2016 high, m/t bullish to 50/52, with secondary target of the 2011 $63s.

Key miners...

Newmont (NEM), monthly

 

A net October decline of -$0.61 (1.0%) to $62.84. S/t bearish with the sector, and I would note the monthly 10MA in the $57s. More broadly, still m/t bullish to giant psy'100.

Barrick Gold (GOLD), monthly

 

A net October decline of -$1.38 (4.9%) to $26.73. S/t bearish with the sector, and I would note the monthly 10MA in the $24s. More broadly, still m/t bullish, with soft target of the $37s. New historic highs >49.83, will require Gold 2400/2500.
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Of the two, yours truly favours GOLD - which it'd seem Buffett/Berkshire would agree with, but both are tier'1 quality miners.     

Miners still cooling

The gold miner ETF of GDX ended the month on a moderately weak note, settling -21cents (0.5%) to $39.16, and that made for a net September decline of -$3.11 (7.4%). Despite further cooling, the miners remain long term bullish with Gold and Silver.

GDX, monthly

 

GDX, daily

 

Summary

A second consecutive net monthly decline for the gold miners. The s/t outlook is bearish to the $33s, where the 200dma and monthly 10MA are lurking. More broadly, having already cleared the 2016 high, m/t bullish to 50/52, with secondary target of the 2011 $63s.

Key miners...

Newmont (NEM), monthly

 

A net September decline of -$3.57 (5.3%) to $63.45. S/t bearish with the sector, and I would note the monthly 10MA in the $55s. More broadly, still m/t bullish to giant psy'100.

Barrick Gold (GOLD), monthly

 

A net September decline of -$1.54 (5.2%) to $28.91. S/t bearish with the sector, and I would note the monthly 10MA in the $23s. More broadly, still m/t bullish, with soft target of the $37s. New historic highs >50.11, will arguably require Gold 2400/2500.
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Of the two, yours truly favours GOLD - which it'd seem Buffett/Berkshire would agree with, but both are tier'1 quality miners.    

CRSR - finally listed

Corsair Gaming (CRSR) had its IPO on Wednesday, initial price action has been turbulent, pressured by a rather unstable main market. The stock settled Friday +10.7% to $17.25, 25 cents above the issue price.

CRSR, daily

Summary

Yours truly battles to keep up to date with as much as possible, but Corsair's IPO was one that slipped right past me.

It wasn't until Thursday in AH, that I saw someone post about Corsair's IPO, - via (of all places) the infamous 'Wallstreetbets' of Reddit,

Corsair is a name I've been wondering for some years, whether it would ever get around to becoming listed... and its finally happened!

Yours truly has something of a history with Corsair, as I have been building my own desktop systems since 2000.

In fact, among many other pieces, I've a quintet of products from none other than Corsair...

So, you could say I'm something of a Corsair fan (no pun intended).

What about the company?

Key PDF/ SEC filing...
https://ir.corsair.com/static-files/2a505825-98a7-4c14-8634-fd9b7810aeea

Corporate site: https://ir.corsair.com/investor-relations/

WIKI: https://en.wikipedia.org/wiki/Corsair_Components
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As for the stock itself, I'll be an interested buyer if sp'3100, which seems probable within the near term. 

I could understand if the more cautious would leave Corsair alone, and instead, favour the mid/large tech-hardware stocks, such as NVDA, AMD, or MU.

In any case, you can expect me to regularly highlight CRSR across the weeks and months ahead. It'll be interesting to see if this starts to capture some mainstream attention. 

Yours... bullish RGB (and that isn't a ticker)

Miners powering upward

The gold miner ETF of GDX ended the month on a very positive note, settling +$1.31 (3.1%) to $42.94, and that made for a net July gain of +$6.26 (17.1%). The miners are long term bullish with Gold and Silver.

GDX, monthly

GDX, daily

Summary

A fourth consecutive net monthly gain for the gold miners, with a July high of $44.46 - the highest since Dec'20212. Having already cleared the 2016 high, m/t bullish to 50/52, with secondary target of the 2011 $63s.

Key miners...

Newmont (NEM), monthly

A net July gain of +$7.46 (12.1%) to $69.20, having broken a new historic high of $70.30. M/t bullish to giant psy'100, which is viable before year end.

Barrick Gold (GOLD), monthly

A net July gain of +$1.97 (7.3%) to $28.91, having printed $30.20, the highest since Feb'2013. M/t bullish, with soft target of the $37s. New historic highs >50.11, will arguably require Gold to the 2400/2500 zone.
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Of the two, yours truly favours GOLD, but both are tier'1 quality miners.   

Miners following bullish gold

The gold miner ETF of GDX ended the month on a very positive note, settling +$1.12 (3.1%) to $36.68, and that made for a net June gain of +$2.36 (6.9%). The miners remain m/t bullish with Gold.

GDX, monthly

GDX, daily

Summary

A third consecutive net monthly gain for the gold miners, with a June high of $36.72, just a little shy of the May high. Having cleared the 2016 high, m/t bullish to 50/52.

Key miners...

Newmont (NEM), monthly

A net June gain of +$3.52 (6.0%) to $61.74. The June candle has a powerful hyper spike floor from $52.33, and leans s/t bullish. M/t bullish to giant psy'100... which is viable before year end.

Barrick Gold (GOLD), monthly

A net June gain of +$2.94 (12.2%) to $26.94. The June candle has a spike floor from $22.13, and leans distinctly s/t bullish. M/t bullish, with soft target of the $37s. New historic highs >50.11, will clearly require Gold sustainably >2K.
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Of the two, yours truly favours GOLD, but both are tier'1 quality miners.  

Miners broadly pushing upward

The gold miner ETF of GDX ended the month on a positive note, settling +32cents (0.9%) to $34.32, and that made for a net May gain of +$2.06 (6.4%). The miners remain m/t bullish with Gold.

GDX, monthly

GDX, daily

Summary

A second monthly gain for the gold miners, with a May high of $37.49, the highest since Feb'2013.

S/t vulnerable to the 50dma - not least with a Thursday and Friday black candle, but broadly, the miners are strong. Having cleared the 2016 high, m/t bullish to 50/52.

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Key miners...

Newmont (NEM), monthly

A net May decline of -$1.01 (1.7%) to $58.47, but having broken a new historic high of $69.13. The May candle is spiky. S/t over-stretched, with first support of 52/50.


Barrick Gold (GOLD), monthly

A net May decline of -$1.64 (6.4%) to $24.00. The May candle is spiky, and threatens s/t downside, with major support 21/20s.M/t bullish, with soft target of the $37s. New historic highs >50.11, will require Gold sustainably >2K.
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Of the two, yours truly favours GOLD, but both are tier'1 quality miners. 

Exceptionally strong month

The gold miner ETF of GDX ended the month on a bearish note, settling -$1.77 (5.2%) to $32.26, but that still resulted in a net April gain of +$9.22 (40.0%). The miners will be vulnerable, if the US market is smacked back lower into the summer.

GDX monthly

GDX, daily

Summary

The March spike low of $16.18 looks even more bizarre, after April printed $34.74... an effective 100% gain.

Along with gold itself, I am absolutely mid/long term bullish the gold miners. However, as we saw from mid Feb>mid March, if the main equity market gets smashed lower, the miners will also be impacted.... if briefly.

The more cautious will be side-stepping the sector until at least the sp'2600/500s, if not the mid 2300s the latter appears realistic within June/July.
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Key miners...

Newmont (NEM), monthly

A net April gain of $14.20 (31.4%) to $59.48. having broken a new historic high of $64.65. The April candle is rather spiky. S/t over-stretched, with first support of 52/50.


Barrick Gold (GOLD), monthly

A net April gain of $7.40 (40.4%) to $25.72. The April candle is rather spiky, and threatens s/t downside. M/t bullish, with soft target of the $37s. New historic highs >50.11, will require Gold sustainably >2K.
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Of the two, yours truly favours GOLD, but both are tier'1 miners.

Miners decline for a third month

The gold miner ETF of GDX ended the month on a bearish note, settling -$0.89 (3.7%) to $23.04, and that resulted in a net March decline of -$3.18 (12.1%). Despite a rough March/Q1, the m/t term outlook remains bullish with Gold.

GDX monthly

GDX daily

Summary

A third consecutive monthly decline for the gold miners, with GDX printing a hyper spike floor of $16.18 - the lowest level since Feb'2016, back when Gold was 1200/1100s. Note monthly volume totaled 2.2bn... a new record.

Cyclically, monthly momentum is set to turn negative at the April 1'st open. However, there is a clear divergence in the macd (black line), and it does support the notion that miners could resume upward with Gold across the spring.

Key components: Barrick Gold (GOLD), and Newmont (NEM).
Of those two, I favour GOLD, but both are superb miners.

Miners end the month poorly

The gold miner ETF of GDX ended the month on a powerfully bearish note, settling -$1.93 (6.9%) to $26.22, and that resulted in a net February decline of -$2.77 (9.6%). Despite a major reversal, the m/t term outlook remains bullish.

GDX monthly

GDX daily

Summary

With Gold printing the $1691s, GDX broke above the 2016 high, with a high of $31.84. Yet... with Gold being whacked to the $1564s into end month, the miners settled February on a very bearish note.

The February candle is of the bearish engulfing type, and leans s/t bearish. I am still m/t bullish gold, and by default, the related miners.
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The two biggest components of GDX:

Newmont (NEM)

Recent earnings were good, with Newmont breaking a high of $51.34. The month ended badly though, with Newmont seeing a net decline of -0.9% to $44.63. The February candle is extremely spiky from key price threshold of psy'50, and it leans s/t bearish. Still m/t bullish.


Barrick Gold (GOLD)

Recent earnings were good. Barrick Gold pushed to $22.50, but ended the month far below the high, settling +3.1% at $19.04. The February candle is very spiky from key price threshold, and leans s/t bearish.
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Of the two, yours truly favours GOLD.

Miners broadly choppy

The gold miner ETF of GDX ended the month on a bullish note, settling +26cents (0.9%) to $28.99, but that still resulted in a net January decline of -29cents (1.0%). Despite a broadly choppy January, the m/t term outlook for remains bullish.

GDX monthly

GDX, daily

Summary

Despite settling net lower for January, the miners are comfortably m/t bullish, from the key August 2018 low of $17.07. Big target remains the 2016 high of $31.06.

The two biggest components of GDX:

Newmont (NEM)

Settling net higher by a very significant +3.7% to $45.06. Having already cleared the 2016 high (Newmont is ahead of the sector), next target is psy'50, and that looks very viable within Feb'/March.


Barrick Gold (GOLD)

Settling -0.4% at $18.52. Price structure is a multi-month bull flag, with big target of the 2016 high of $22.71.
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Of the two, yours truly favours GOLD.