YOU CAN'T ARGUE WITH THE NUMBERS ... When gold is in a strong uptrend, gold miners usually outperform the commodity. That's one of the historic realities that I wrote about years ago in my first intermarket book in 1991. One reader disagreed with my Friday comment that gold stocks were indeed rising faster than bullion. Since last October, the Market Vectors Gold Miners ETF (black line) has risen 87% while bullion has gained 25%. That means that gold miners have more than tripled the gain in bullion. You can't argue with those numbers. [In response to another question about natural gas stocks, it's also true that commodity-related stocks usually rise faster than the commodity].
Interesting...when you put it that way, I agree that you can't argue with the #s. Is that a J Murphy quote?
On another topic, looks like resistance tuned into soft butter today. Is there news driving this (I've been preoccupied for the better part of the last 24 hours)?
Market having a relief rally, bears trapped rally, wanna gotta see DOW 10K rally.....(Productivity numbers quite high...higher than ever). Lesson....people afraid of losing their jobs work really really hard, and companies have had to operate really, really lean.
I can't find your email address? I looked earlier today and couldn't find it. I always considered myself computer literate but today's pop quiz of "Find Leisa's Email" I get a "F". An you can't spin that one Hon! :-))))))
I think Lewis does a great job answering the question...and notice the date of the article and his statement about the possibility of gold breaking to new highs in the coming weeks.
I also found a related article by Lewis that summarizes the fundamentals of gold nicely...here:
Think of this at the most unbelieved and untrusted rally....apparently bearish sentiment is quite high...the news tomorrow will either crater or catapult it.
12 comments:
No confirmation by miners on this gold move. Just sayin'. ;)
MarkM
J Murphy always said that miners lead the price.....(unless I have that backwards)
I'm thinking you might have it backwards, but I'm NOT the authority!!
Glenn....you made me look:
YOU CAN'T ARGUE WITH THE NUMBERS ... When gold is in a strong uptrend, gold miners usually outperform the commodity. That's one of the historic realities that I wrote about years ago in my first intermarket book in 1991. One reader disagreed with my Friday comment that gold stocks were indeed rising faster than bullion. Since last October, the Market Vectors Gold Miners ETF (black line) has risen 87% while bullion has gained 25%. That means that gold miners have more than tripled the gain in bullion. You can't argue with those numbers. [In response to another question about natural gas stocks, it's also true that commodity-related stocks usually rise faster than the commodity].
Interesting...when you put it that way, I agree that you can't argue with the #s. Is that a J Murphy quote?
On another topic, looks like resistance tuned into soft butter today. Is there news driving this (I've been preoccupied for the better part of the last 24 hours)?
Yes, Glenn, that was a quote!!!
Market having a relief rally, bears trapped rally, wanna gotta see DOW 10K rally.....(Productivity numbers quite high...higher than ever). Lesson....people afraid of losing their jobs work really really hard, and companies have had to operate really, really lean.
Leisa
I can't find your email address? I looked earlier today and couldn't find it. I always considered myself computer literate but today's pop quiz of "Find Leisa's Email" I get a "F". An you can't spin that one Hon! :-))))))
Doula: http://www.blogger.com/profile/10237875938400587600
Click on the e-mail button. I see how it is easy to miss.
More on miners leading gold here:
http://finance.yahoo.com/news/Will-the-Miners-Lead-Gold-minyanville-2742015531.html?x=0&.v=2
I think Lewis does a great job answering the question...and notice the date of the article and his statement about the possibility of gold breaking to new highs in the coming weeks.
I also found a related article by Lewis that summarizes the fundamentals of gold nicely...here:
http://www.minyanville.com/articles/UDN-GLD-uup-gdx-dzz/index/a/24040
Do you follow anyone on Minyanville?
This can't possibly end well but you gotta ride it while you can.
MarkM
Like watching a train wreck?
Think of this at the most unbelieved and untrusted rally....apparently bearish sentiment is quite high...the news tomorrow will either crater or catapult it.
My god, we can't get a red candle on a day that UE hits 10.2%? WTF is going on? (Shakes his head)
Long but sick of himself. http://www.youtube.com/watch?v=vzQ8ef-RpQo
MarkM
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