Posted by frtaylor on 25th of Aug 2011 at 11:53 am
Actaully, GDX looks like it could have more upside, if gold
continues to bounce or at least stays relatively flat. I have
a stop below yesterday's lows.
The gold stocks remain in good shape. I am only expecting GDX
and GDXJ to trade a bit lower in order to fill open gaps. GDXJ has
an open gap just below 35 while GDX has an open gap just below 60.
As far as Gold, momentum remains very strong and corrections will
be short-lived and if the market consolidates it will form a very
bullish pattern. Gold and Silver need some consolidation as there
is a bit of spec money in these markets. As the stock market
rebounds look for the mining stocks to catch a big bid. GDX is very
close to that major breakout. Any corrections will be short in
terms of time. Stay bullish!
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Actaully, GDX looks like it
Sold half of my GDX , plan on following signal ...
Posted by frtaylor on 25th of Aug 2011 at 11:53 am
Actaully, GDX looks like it could have more upside, if gold continues to bounce or at least stays relatively flat. I have a stop below yesterday's lows.
jGDX, GDJX and gold stocks
Posted by billnew52 on 25th of Aug 2011 at 12:02 pm
The gold stocks remain in good shape. I am only expecting GDX and GDXJ to trade a bit lower in order to fill open gaps. GDXJ has an open gap just below 35 while GDX has an open gap just below 60. As far as Gold, momentum remains very strong and corrections will be short-lived and if the market consolidates it will form a very bullish pattern. Gold and Silver need some consolidation as there is a bit of spec money in these markets. As the stock market rebounds look for the mining stocks to catch a big bid. GDX is very close to that major breakout. Any corrections will be short in terms of time. Stay bullish!