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After a quick review of the markets, we'll look at some of the stock picks in recent reports and a few new thoughts...
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Maybe he is Long Gold too 🙂
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GOLD - This was a nice break higher and this took place with the USD moving higher an also on the infamous ' Chinese Golden Week'. It was a nice on day pop and I'd like to see some follow through this week.
GDX - Our last report already discussed the GDX : GOLD Ratio, and showed that the Miners have been leading Gold. They kept up with Gold on Tuesday with a nice push higher on strong volume. Since this looks like GDX is coming out of a 1/2 cycle low, it should be able to break right through that 50sma and back test it on a dcl. We'll see.
Read MoreThanks Ray, for reminding me by email that this is the so called Golden Week in China. What is the Golden Week? See the calendar below, and you'll see that China is basically on holiday from Oct 1 - Oct 7th...
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