After some wild trading in the gold market, everyone wants to know what’s next for gold and the mining shares? To help answer that question, today King World News is pleased to share a key portion of the internationally acclaimed work from Jason Goepert, founder of SentimenTrader, including a fascinating chart on insider buying.
Here is just a small portion of Jason Goepfert’s internationally acclaimed work: “The Metals & Mining sector collapsed in September, and hasn’t participated much in the past month’s rally. In reaction, public optimism is at near-record lows. But corporate insiders have been buying aggressively, setting up a “public vs insiders” situation. Insiders usually win.
In early October, we reported that corporate insiders had picked up their buying activity in the broader market, triggering a Buy Inflection from the excellent InsiderScore.com service.
Buy Inflections are instances of concentrated and accelerated buying activity by insiders.
While there were reasons to cast suspicions on that signal, mainly a reduced level of volume, stocks are indeed higher after suffering some short-term weakness. The Buy Inflection from insiders gave more credence to the idea that the mini-panic readings in mid-October were likely “it” for this sentiment cycle.
According to InsiderScore, one of the industries with the strongest buying pressure right now is Metals & Mining, which has been beaten up along with many other commodity-related issues.
Source King World News
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