Buy the Miners Not the Gold

The series of earning's hits and misses has captured the focus of investors as has the continuing divergence between the Dow Industrials and the Nasdaq 100. The SPDR Dow Jones Industrials (DIA) is down 0.3%, so far this week, while the PowerShares QQQ Trust (QQQ) is up just over 1%. These divergences are also evident in the market internals as while the NYSE Advance/Decline and Nasdaq Advance/Decline lines have made further new highs, the Dow A/D line has not. The volume analysis of the leading ...