Well, let’s just say we got a low risk entry setting up here with many of the Gold & Silver miners. Looking at the $GLD, the Gold Trust, has found support the last few days at $125. Should we see strength in the metals here, I like the idea of getting long $JNUG or $NUGT, so long as gold can hold support.
With the market a bit dicey here, I feel comfortable with this trade. Let’s see if buyers show up in the morning:
Here’s a weekly timeframe of the precious metal, via $GLD:
And, the monthly timeframe:
If you enjoy the content at iBankCoin, please follow us on Twitter