Monday, March 26, 2012

GLD / GDX / GDXJ

On 3/20 and 3/21 I posted on the strong likelihood of a bounce brewing in GLD as well as the miners, GDX and GDXJ. There is a long term issue with GLD which may not be so bullish, the ideas posted last week for the miners and GLD for a bounce trade were along the lines of a "Swing Trade" and if the market gives more, then we'll take it.

Here's GLD and the miners this a.m. responding to Bernie's speech.

 GLD +.98%

 GDX +1.29%

GDXJ +2.39%

While I'm not saying this trade is over by any means, I'll be keeping a close eye on all of them as they originally looked like shorter term bounces in the 3.

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