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Our hard working miner here (we’ll call him Huey) has been pushing his cart of rocks, first gently downhill from 2016 to 2018 and then uphill to a bull market since May 2019.
As tracked in NFTRH, in 2019 the macro backdrop became positive for the gold stock sector as gold entered a bull market by taking out the 1378 level and its ratios to stock markets began to rise. Gold/SPX is among the most important macro indicators to a bullish gold mining case as a gold price rising in terms of stocks is the key factor in drawing larger investment (e.g. institutions) to the sector.
Remember Genius Brands? It was a very hot stock for a while, trading 400 million shares in just a single day in May (which, back when I started trading, was literally the trading the volume of the entire stock market). Suffice it to say, these MoMo stocks are just as pointless as ever.