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RE: "Physical" gold is for suckas....buy paper gold.... here's why.

in #gdx • 7 years ago

6/22/17 Afternoon update: This limit sell did not execute but GDX is still a hold so I will just cxl the limit and hold.

GDX will either breakout here or fail near 23.50..ish. Now at 23.40. A selloff should be bought...unless the goldbugs panic. And right now they are too skeeerd to buy still. A breakout would get most of them feeling good again. That's all I'm trying to do. :-)

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=gdx&x=57&y=10&time=18&startdate=1%2F4%2F1999&enddate=6%2F12%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11

7 years ago in #gdx by
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     7 years ago 

    6/23/17 Update: I'd like to see GDX move thru 22.75, otherwise this will be a very short term sell signal coming in here. I'd continue to hold the long position via the $22 strike calls for July expiry. Last trade on the July $22 calls was 1.02 with the bid at .95. That's a 30%+ gain in 2 days so if this was a large $$$ trade I would certainly take 25% of it away.

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