Mark, do you have a target price for gold, gdx, etc? I also sold all my long positions but not shorting. I am expecting 1235 for gold pullback. Thanks.
I have a number of potential support levels I’m looking at and I’m going to trade what happens. If a level shows support with appropriate structure I will sell my DUST & JDST and return long. One level that keeps recurring on my GDX charts is ~$24.27…but I really don’t like to guess….we will just see how it plays out.
Worst case I see a structure that tees up a scenario where prices drop all the way down to about $21.04 GDX from here. I really feel like caution is due here and I’m in protection mode. I really don’t like the way the charts look.
Great post (earlier), this keeps me from getting to excited about Plunger’s thesis although I am definately in the in sitting-tight camp – the be-right part is TBD. Much respect.
Thanks for the opposing viewpoints and that chart that backs it up. Never good to get “complacent” with these miner ETFs.
Mark, do you have a target price for gold, gdx, etc? I also sold all my long positions but not shorting. I am expecting 1235 for gold pullback. Thanks.
I have a number of potential support levels I’m looking at and I’m going to trade what happens. If a level shows support with appropriate structure I will sell my DUST & JDST and return long. One level that keeps recurring on my GDX charts is ~$24.27…but I really don’t like to guess….we will just see how it plays out.
Thanks for sharing!
Worst case I see a structure that tees up a scenario where prices drop all the way down to about $21.04 GDX from here. I really feel like caution is due here and I’m in protection mode. I really don’t like the way the charts look.
Great post (earlier), this keeps me from getting to excited about Plunger’s thesis although I am definately in the in sitting-tight camp – the be-right part is TBD. Much respect.