Target 10% return.
If the spread closes then the maximum gain is 21%.
The next step is to plot the ratio graph of these two (NEM/GDX) and make sure that is turning up.
I like the way NEM is acting here relative to the group and to the stock market.
Go long NEM and go short GDX . The profit is in the performance difference between the two. You only make money if NEM moves up more than GDX . The key is to put equal dollars into this trade.
Tim 11:32AM EST, Tuesday, March 4, 2014