RE:RE:Over 31M shares traded today. And take a look at the RSI for $BPGDM on stockcharts.com, the 'Gold Miners Bullish Percent Index'.
It has been a fairly consistent leading indicator of market sentiment shift, sometimes almost precisely - right now it's negative 10. Ready for the rebound even though the index itself is at a relative high compared to previous turning points? Nice HL turnaround end-of-day after 3 PM dump.
Comparing $BPGDM to past market moves is instructive, for PM stocks in general, and individually, in this case of interest HL.
The index is Indicative of excessive peaks too, most recently about Oct 22 '24, but look back for the last 3 years on the chart.
Makes for an interesting study, especially in conjunction with the weekly COT report which as of 11/15/24 has shown significant liqidation by longs for the last 4 weeks, about 25% for silver positions and 20% for gold.
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Discl: long HL, reentered after the drop to the $5.60s (RSI 29) from the $7.60s (RSI 70+), neutral on the 3Q report, no cartwheels for me. But should be a better 4Q. Always fun watching the HL yo-yo, definitely not a buy-and-hold.