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Trading the GDX: A modern guide

  • If the USD, gold and the S&P500 go up, then GDX goes up
  • If the USD and gold go up but the S&P500, drops, then GDX drops
  • If the USD and the S&P500 go up but gold drops, then GDX drops
  • If the USD drops, then GDX drops
  • If more than one drop, GDX drops a lot

8 Comments

    It certainly seems that way. The MOST unloved sector in the market right now.

    Reply

    From a TA perspective. Metals bears are scouting entries in the upper end of a 2W tightening range as long as we are still within a tightening range, just as bulls continue to scout entries off the lower end of the 2W tightening range. Its getting tight and a break is probably coming sooner than later! GDX and GDXJ will respond in kind!

    Reply

      The PM sector has a mattress-load of coiled springs.

      Reply

        I guess you spoke too soon. Market down, GDX up today. It’s a miracle!
        War in Ukraine will do that.

        Reply

          George Carlin: “We like war! We’re a War-Like nation!”

          Great for TV ratings, no? After all, that’s what really matters.

          Reply

          Yeah, war this Wednesday is an oddly specific prediction.
          Gold price and gold miners will be up big on Monday and Tuesday.
          After that it depends on Putin.

          Reply

    Thanks for the jinx. Appreciate it.

    Reply

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