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Swing Trading GDXJ

Strawboss

America...Love it...or GTFO
Gold Chaser
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Joined
Mar 31, 2010
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Metro Detroit area
#1
GDXJ has a nicely defined channel with price very near the bottom - looks like a good spot for entry. My stop loss for all related positions will be a daily close below the channel line. Lets see what happens.





So far have bought JNUG at $16.08, Feb 16 and Mar16 $34 calls and I have a buy stop for GDXJ at $33.91 (one tick above yesterdays high. If that doesn't get filled - I will reset for 1 tick above todays high.

Avi Gilburt's analysis is consistent with this channel...

http://www.nasdaq.com/article/the-metals-are-building-another-launching-pad-cm908616

Lets see how the trade goes...