InTheMoney Stocks

Gold Falls Sharply: Mining Index $GDX Into 200MA

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Gold             is collapsing again. A rising stock market, soaring Dollar and lack of fear is continuing to put pressure on the metal. The Market Vectors Gold Miners ETF             (NYSEARCA:GDX) is into a key level here, the 200 moving average on the daily chart . While this level may be good for a multi-day swing trade long, it is unlikely to be the final low of the mining index in the coming months. Simply put, a quick few day trade on the GDX             is likely to yield some profits but do not stick around long.

Gareth Soloway
Chief Market Strategist
Any updated thoughts on when this may be a short-term buy again?
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