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Miners Are Teetering

By Tim KnightETFsNov 18, 2020 12:12PM ET
www.investing.com/analysis/miners-are-teetering-200545069
Miners Are Teetering
By Tim Knight   |  Nov 18, 2020 12:12PM ET
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Yesterday, I bought some puts on GDX (NYSE:GDX), the precious metals mining ETF. So far, so good:

Here is GDX. There is no breakdown yet, but if it slips below that horizontal, look out below.

GDX Daily Chart.
GDX Daily Chart.

The junior miners, symbol GDXJ, looks virtually identical, and the same argument holds for that horizontal support line.

GDXJ Daily Chart.
GDXJ Daily Chart.

 

 

Miners Are Teetering
 

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Miners Are Teetering

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Comments (7)
New Jazenevd
New Jazenevd Nov 19, 2020 7:09AM ET
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Shorting gold equities in present market environment means very substantial risk vs. limited rewards.
Jose Emenis
Jose Emenis Nov 19, 2020 3:51AM ET
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If gold was valued according to the amount of government corruption and war crimes, gold in the U.S. would be $35,000 - $40,000 per ounce...
Ro Be
Ro Be Nov 18, 2020 9:22PM ET
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The account holdings screenshot, is that your entire account? Or are these hedging positions? No mention of that. Providing a screenshot may appear honest to the gullible, but the truth is you just wanted to show us these positions out of pure personal interest. And the same with the gold miners "analysis". There is no analysis here. Just using article space to try to manipulate people into copying your positions.
Hanzo Gresham
Hanzo Nov 18, 2020 7:17PM ET
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Gold is strongly correlated with government debt levels, which are only going in one direction. Short at your own risk
Frank Jackson
Frank Jackson Nov 18, 2020 6:13PM ET
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oversold.. will bounce in the next day or two
short gold
short gold Nov 18, 2020 5:38PM ET
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50 day crossed 100 day classic trend trade short miners and gold thats what trend bots will do
Gard NG
Gard NG Nov 18, 2020 5:38PM ET
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hm...you mean like in nov 2019?
Napat Limboot
Napat Limboot Nov 18, 2020 2:55PM ET
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