GDX: Long opportunity for the patient tradersGDX , AMEX:GLD 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)
