Mining Momentum And Gas Rally
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Jason Goepfert
Published: 2017-12-29 at 16:08:25 CST
This is an abridged version of our Daily Report.
Mining momentum
The Metals & Mining industry is in the midst of a historic run. Over the past 30 days, it has enjoyed a cluster of up days seen only 4 other times since 1990.
Each of the others led to short-term weakness.
Gas powered rally
Natural gas has jumped more than 10% off its low from a few days ago. It behaved in a similar way in 2015, each of which was a “false” move. Historically, if buyers persisted over the next two weeks, it was a good long-term sign.
New high in debt
Margin debt climbed 3.5% to another new record high in November, the largest monthly gain since January. The net worth of investors fell to a record low of negative $287 billion. Still, the year-over-year increase in debt was about equal to the change in the market value of stocks.
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The post titled Mining Momentum And Gas Rally was originally published as on SentimenTrader.com on 2017-12-29.
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