GDX: Long opportunity for the patient traders

, and GC1! are all correlated
- GDX lost 40% of it's peak value in 3 weeks - and shot thru the 3-year lows
- this represents a "golden" opportunity - pun definitely intended :) - to someone who wants to ride the opportunity and invest in gold - GDX provides a way to do that with small capital
- i would consider watching the GDX ATM Calls for 4 to 6 months out - but only establish the trade once the reversal to the upside is confirmed and we have a good and reliable target count
- this may happen in few weeks depending on when demand returns to gold by large investors - who had to liquidate to support their equity positions

-- this is another trade idea for the "patient fisherman"
(edited - my edits now showing)

Note

i took a quick in-out trade here on the GDX swing back up. it was small, but i think another opportunity will come as (check the yellow circle) it shows a possibility of anther move down again - entry below $20 would be good.

Note

GDX is back to the buy zone as expected. plan your trade carefully now :)

RedKTrader

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RedKTrader