Friday, August 1, 2014

GDX Interesting Close

I'm really not sure what this was... An exercise of an option contract perhaps? Something to do with the COT? In any case, as you'll see GDX bears very little resemblance to its 3x leveraged cousin NUGT, but NUGT looks a lot like its cousin the 3x long Junior Gold Miners, GDXJ. In other words, GDXJ and JNUG are perfectly in tandem, GDX and NUGT aren't even close and then this at the close...
 1 min GDX in to the close WITH A +3.70% MOVE TO $27.52 AT 3:56 AND THEN RIGHT BACK DOWN ON HEAVY VOLUME BOTH WAYS.

 Here it is on a 5 min chart...

And the 3C chart suggests its about ready to make a move- 3 min

 As well as longer term 10 min, but the 3 min is closer for timing.

This is NUGT in green and GDX in red, they should be nearly identical.

This is NUGT vs JNUG, they are much closer even though one is tied to Gold Miners and the other to Junior Gold Miners.


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