chartwatchers
Long

GDX/GDXJ - Constructing a bear trap

AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
5200 64 66
1.63 $ from our last intermediate low.
0.6 $ from the magic 200 SMA and the bottom of the GAP.

I've started to accumulate miners today. If we close the GAP and tag the 200 SMA I will be adding to the position tomorrow.
It's unbelievable but the miners started the ICL decline before gold             . So the miners will bottom first and gold             will follow the miners. We shouldn't fall below the previous ICL at 22$.
For advanced traders I suggest NUGT             and JNUG             . It will be a unique possibility to buy miners.

GDX             and GDXJ             are already at extreme oversold levels where bottomed in the past ( RSI ). Banks will do everything to lose your positions. If you are in the game already hold the position.

Comment: GDX
Brutal volume today. Smartmoney forced gold to drop with 25.000 contract dump.
The small guys stopped out.
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Comment: GDXJ
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Comment: Look the volume at the reversals in the past:
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Comment: JNUG. LOL.
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Comment: NUGT.
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Comment: How long they will wait the miners to go up?
1 day ? 2 days? Next week the latest when miners will rally with gold.
Comment: GDX closed the gap and tagged the 200 SMA.
I'M adding to my positions again.
It's a unique possibility.
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Comment: As miners started this intermediate decline earlier than gold I think miners will bottom first.
Maybe today ....
Comment: I will update gold on twitter.
Will leave the trolls alone to short it here.
Comment: Bouncing from the 200 SMA on the daily.
It can easily be the bottom.
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Comment: Lower low, but we are running out of sellers....
We are bottoming...
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Comment: GDXJ, JNUG, NUGT is the same.
No one left to sell.
Comment: Shares moved into the big hands of banks.
Comment: Updated gold on twitter.
Comment: It seems we will pop today but you can buy every dip.
It's building the bottom.
Comment:
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opening at 39$
Comment: I think we need to get positioned here today : at least a starting position.
Miners will bottom ahead of gold. I tend to think that in the night (GMT) (afternoon EST) when China opens there will be one more spike down to 1230-40 in gold.
That will be bought by Tuesday.
Comment: 39$...
+4% - not bad for your options
Comment: Lower volume again and seems we will be closing above the 200 SMA.
Very good sign. The bottom might be in.
It's a good buy today again.
GDX,GDXJ,NUGT,JNUG
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Comment: Swing in the miners.
Miners are bottoming ahead of gold today.
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Is it still an ICL?
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I wouldn't be so quick to call a bottom just yet boys! I'm posting a 4 hour Chart of Silver but GDXJ is also showing a triangular formation which could indicate that the Metals may have one more low to print before lift off..!

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We see NUGT first time standing up 9 ma.
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Bullish RSI divergence on daily. Volume continuing to lower. Looking for a classic rebound, but I wonder if the crazy political sh*t going on in USA is going to keep this coiling for a while....
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Yup - NUGT is climbing. I think I finally got IN at the right time. Now lets see if I get OUT at the right time. :)
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Thank you! Man you've made your mark already. I would rather keep low for some days. Speculation sentiments are net long and it will be against yourself orders.
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"Shares moved into the big hands of banks." how do you understand this? Can you explain please, Arpi?
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The volume on JNUG was savage this morning
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Thanks for Sharing!
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Hey, using TWTR for the Gold update is not cool : )
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