I’m looking for GDX 30 over the next few months and prices fit my fib grid very nicely. I will be protecting profits at that point while remaining invested for the long term. After hitting 30 I could see a corrective move back down to 23. We will see…..

GDX

Take a look at 2008. We got a move from 17 to 32 in a very short period of time but never more than a split second 38% pullback before the consolidation build started leading to a multi-year run higher. You would have had to be extremely lucky to nail the one day of the 38% pullback. It wasn’t worth trying to be cute.

GDX 2008