NEW YORK ( TheStreet) -- One of my investment themes for 2013 is that the gold bubble of 2011 has popped, and would not re-inflate this week. The eight gold mining stocks that I have been tracking set new multi-year lows on Monday, and one has been upgraded to buy from hold this morning.On March 5 I wrote, Multi-Year Lows Tarnish Gold Stocks where I mentioned that gold mining stocks were trading below their 200-week simple moving averages with Comex Gold futures still above its 200-week SMA. At that time gold had been above its 200-week since February 2002. That changed during the week of April 20 with gold falling below its 200-week SMA. Gold is now extremely oversold on its weekly chart profile.
Gold Stocks Are Extremely Undervalued
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