To update my post from this morning and my long NUGT (3x levered long ETF for gold miners) inside the 12631 Trading Service, I am looking at the $23.75-$24.20 area as the initial target. However, I am not viewing that area as an automatic sell spot. I am simply looking to see how strong buyers are in the face of logical minor resistance, seen on the daily chart below for the GDX (straight-up gold miner ETF).
I am looking to add to my position more than I am looking to sell at this point.
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howling at the moon ! ; )
Like a good WOLF would
Chess I’m quite impressed with your stalking of the gold miners. Assuming a bottom here in GDX, and hoping for a move past that $24 level.
Do you have an idea as to when can you consider this a good long term hold?
This may be it. Need to see a bit more, though.
That’s what I like to here – way to creep! Keep up the great work
Gold will need to break through 1255-1260 resistance before the gold bulls are in charge. Give JP Morgan an assist on this move.