GDX Model on Monday

The GDX Model closed just above the Porosity level, which means that in theory, we the Short trade should have been closed an a long trade opened. However, This occured at 16:00:50, which is after the market closed. In other words, the model could not effectively "recognize the signal and act." In practical terms, the model is still in a weak short mode.

The porosity level will be adjusted to the new increasing volatility and will be higher at the open on Monday. In terms of the GDX model, if money moves in on Monday, the model will turn to a long trade, otherwise, it will keep its weak short trade.

I am personally long - and slightly under water - as the accumulation was obvious during the day and was evident on ABX/GG, as can be seen below. I will write more about gold on the daily comment.


Pascal

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