RE:Great write up on K92I refer colleague KNT BBoard posters to another excellent post Source: July 1, 2023 by Adam Hamilton Wall Street Window, in which he draws attention to :
- The technical indicators from "The dominant GDX gold stocks EFT
- GDX 's historical amplification (2x to 3x range) of Gold Price movements
- June is the peak month of seasonally-weakest spell
- 200 dmas being good technical baselines (in this particular sector) "from which to measure overboughtness and oversoldness.... and moving slowly enough to distill out all that daily volatility that so knidles trader's greed and fear."
- "Gold's up legs are driven by three sequential telescoping stages of buying:
- Initial stage-one gold futures short-covering buying, which Hamilton suggests for current circumstances "is spent".
- But a whopping 5/6 ths or so of its much-larger stage-two gold-futures long buying remains!
- Speculators have only bought longs 1/6th up to their likely trading range.
Hamilton suggests that "Gold's upleg likely won't fail, in present circumstances, before long-buying exhausts itself, and the best proxy for that is the combined holdings of the mighty GLD and IAU gold ETF's.
The sector is really out of favor with fear and apathy abounding. Hamilton's proposed bottom line is that "gold stocks have converged with two key support zones, really increasing the odds their latest mid-upleg pullback has largely run its course. Gold is exiting June's summer-doldrums seasonal slump, with both gold-futures speculators and investors having huge buying firepower left. The former will will flock back as Fed hawkishness wanes and the resulting gold gains will entice investors back to chase gold companies."
This background can provide encouraging perespective on projcted K92 Mining
operating performance in H2, 2023,
Peace,
Good Decdision-making to All,
ElJ