ANV Showing Relative Strength Can this be possible?
ANV is outperforming the broader index of miners represented by the HUI index.
https://stockcharts.com/h-sc/ui?s=ANV:$HUI&p=D&yr=0&mn=7&dy=0&id=p15806588949
Also, ANV is finally outperforming gold bullion.
https://stockcharts.com/h-sc/ui?s=ANV:$GOLD&p=D&yr=0&mn=7&dy=0&id=p41062465837
Could this be the start of something big?
I'm thinking maybe so.
We are in a time of seasonal weakness in gold through July and Aug and many traders who are long term bullish expect weakness through the summer.
I don't count on historical seasonal tendencies and pay more attention to market action.
There are currently very large short positions by speculators in Comex gold that have to be covered by buying longs.
https://www.321gold.com/editorials/hamilton/hamilton060614.html
And there are extremely large short positions in ANV that have to be covered some time.
These two factors can create explosive upside price action.
I am currently heavily long many gold stocks and bullion and looking to add to my core ANV position on price weakness.
goldguy