It’s been two decades of pain with interim bullish flashes in gold stocks, and the herds are painfully aware. They’ve learned their lesson and now they’ll miss a coming opportunity

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Gold has done exceptionally well over the past month, but it may have topped out on Thursday, as this island reversal pattern suggests.

Even though gold isn’t doing anything special today, miners are flying. Indeed, over the course of the past month alone, GDX is up about 30%.

Real gold mining macro fundamentals matter. A lot. Here is a list of things that don’t matter, or at least shouldn’t matter when considering a bullish view of the gold stock sector:
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