GDX Gold Miners ETF Plan to SHORT very soon I just follow the charts and it looks near term bearish to me.
Open interest is down and Bearish Gartley in play with D leg near pitchfork channel.
Best of luck to you!
GDX trade ideas
Looking forward to Gold, Silver, Miners to dropThe miners are overbought and due for a correction GDX great buy under $25 looking for higher low on weekly charts and possibly monthly. Overbought on daily 100% + gain in last month which is extremely impressive but it’s a due for correction in the short term and no one talks about these stocks but they are massive opportunities gdx at minimum over $100 in 2-3 years. These are the stocks I’m loading up on long term going to be coming up my favorite individual miners I have to do more research because mining is a tough business with a lot of variables but with $5000 gold these miners are going to explode to the upside.
Sentiment on Gold is WAY TOO bullish short term The sentiment on gold and gold stocks is way too bullish for the short term. I am not a bear and I am bullish on gold mid to long term but gold has to flex lower to get the power it needs to get past $1800. If the stock market ) rolls over, which I think it will, gold will not escape the selling pressure. Then it will bottom and be ready for the sky rocket move everyone expects. Also, keep an eye on DXY. Any surge in DXY will send gold lower. Just thoughts ...
Current contrarian position with PUTS on GDX (15 May) as well as PUTS on SPY (June 19)
P.S. GDX is up 2.1% on the day... good entry point???
Disclaimer: The above is only my opinion and in no way can it be interpreted as investment advice. Trade at your own risk and do you own due diligence.
The most concern I have for GDXIs it may positively correlate to SPX again if SP starts to rollover. So keep that in mind.
GDX strict stop loss at 31 GDX strict stop loss at 31 ...Bull Flag got broken on the down side .. Hit stop loss yesterday. If we do not hold 31 we are risk of more stronger correction..I am hoping 31 to 31.5 to hold so that we can we reach our earlier reverse H & S target of 46.. let us have our fingers crossed...
Gold Miners looking positive to me.Weekly Log of GDX. No new low on recent drop and break up above recent high. Near term target box given.
Process you way. Also see Silver Miners chart from today as well.
GDX showing flag break out post Fed ..target 37 to 38GDX showing flag break out post Fed ..target 37 to 38 . Currently bullish still flag structure continues...and breakout holds Stop loss is always 2%..33.25 since it is highly volatile
GDX Confirmed Breakout => $50 ObjectiveGDX looks good : we have certainly seen the bottom here.
Breakout was validated by the pullback confirmation.
There is a huge potential here, based on the previous lows of march : Target Price of $50.
Volumes are not very high, but they should pick up quickly, as investors have being buying the dips during the past weeks.
OPENING: GDX JUNE 19TH 27/40 SHORT STRANGLE... for a 1.58/contract credit.
Notes: Remarkably, I have no gold-related stuff on at the moment, and this still has some juice in it, with the implied volatility rank at 59 and the 30-day at 57%.
Gold Holding Support Before FOMC, Moving HigherComex Gold Futures and GDX, corresponding gold ETF, both took a dive on Tuesday morning. Crude Oil plunged another 14% in early trading creating a need for cash to cover losses. With FOMC rate and economic policy decisions due on Wednesday and ECB on Thursday, volatility is on the rise for the rest of the week. Gold is holding support at $1705 with potential to move higher.
Expect to see sell signal soonGdx overbought in short term. With that being said it can stay overbought for a while longer but it’s likely to hit along with metals in next wave of deflation. As I stated in last idea long term these are going way higher. Keep in mind don’t consider opening a short against this because you don’t know how long it will stay overbought you must wait for sell signal.
I like gold and silver miners long termWith qe infinity, stimulus infinity, money printing, mass debt expansion nothing could be more bullish for Gold and Silver. Which companies benefit for this the miners. Oil is way down which lowers the cost to produce, at the same time we have Gold at making higher with a strong uptrend so these businesses are growing revenue at the same time shrinking business which = bigger net income (bottom line). Demand for Gold and Silver is skyrocketing based on these events which could not be more bullish for miners. The government is never going to be able to stop printing which Gold and Silver will be bullish to infinity. During March the deflationary environment is temporary bearish for miners dropped 50% in a month followed by over 100% gain next month. These miners will get hit pretty hard again but it will be a great buying opportunity for long term. I bought last dip and I’m up over 30% if it goes down again buy more. Overbought on short term charts so I’m bearish in the short term but over next 2-3 years I think the gdx will be over $100
GDX/GOLD Ratio Uptrend Still in TactWhen the GDX/Gold ratio rises, the Gold Miners rise more relative to Gold. Seeing this ratio rise is good to confirm a gold bull market. Gold miners should do well in the coming years.
Highest close in 7 yearsDecent chance to continue higher, the question is when. If next week doesn't fail the breakout, will go higher
$GDX may find some resistance short term$GDX testing UTL resistance along with a few other miners. Confirmation with break of LTL.
GDX is a no brainerThis is just an obvious buy to be on this big breakout this week. I have been holding $NEM and $GOLD for a few weeks and they have already gone up 25% in price, while GDX has just really broken out on the whole. As the FED pumps the stock market the fundamentals of these mining companies are hard to beat.
