The 30-minute chart for the gold miner ETF is now trading in a well-defined range of late, after the initial surge off recent lows. The $25.75 area down lower is key for bulls to hold onto, as yesterday’s weakness failed to follow-through lower today. If, and I stress if, the gold miners are in a new bull market then this should be about the extent of the silver and miners’ pullback.
Elsewhere, the BBRY JCP short squeezes are in effect, while Tesla is holding firm.
What are you trading this morning?
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Longs; CORN, BIS, POT, TZA, ENPH, SRS & RGSE
That baby owl is so cute!
Couldn’t agree more with Raul3
Me three.
IBB short. stop at today’s highs
Long $DUST
I hate these nut removing motherfuckers but…here I am, again.
I have 1/3 my portfolio in GDX from 23.12. My stop is at 25.30. I put on a small position of DUST as a hedge. If my stop hits, then my dust protects a couple percentage points. If GDX breaks above 27 and holds, I add to GDX and sell my DUST hedge for a small loss, offset by the GDX gain. If the miners collapse, then I ride DUST for 8-10%, after still booking 10% on GDX. Good to have a plan
We all know cash is king into the weekend.