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GDXJ

GDXJ: Daily, Weekly and Quarterly viewI'm long Jr. miners here, together with positions in oil and oil services, and gold, (and probably silver soon). I think we may get a weekly uptrend confirmation to trigger as a result of the jump towards daily targets that is likely to occur within this week. The move forecasted by the weekly chart would put $GDXJ back at the quarterly time-frame mode, from where we could consider the possibility of prices surging like my quarterly chart show...very lofty targets indeed. I'm holding a 13% position in this stock as of now. Best of luck if you take the trade. Cheers, Ivan Labrie.
AMEX:GDXJLong
by IvanLabrie
1
Long GDXJ (Alternative view from previous analysis)One week passed, GDXJ starting to form a bottoming signal (rising volume and bottom wick). With the equity market (SPY) so weak, gold may have the chance to breakout. If GDXJ breaks above the triangle trend line, that will be a false breakdown. That we should expect a huge rally ~20-30% from current level. The only risk is yield is about to explode, so if gold is negatively correlated to yield, this is unlikely to happen. Trade plan: wait til the break above trendline to initiate long position. Otherwise, I am still short biased.
AMEX:GDXJLong
by KeyTrade
GDXJ: Jr. miners have bottomed - upside to shy of $70 possible$GDXJ is an exchange traded fund which lets investors gain exposure to a basket of gold and silver mining companies, which can be a very interesting vehicle to benefit from major moves in precious metals. In this case, we see that the daily chart is likely to start trending sharply up from here, with a chance of breaking above the long term resistance zone above, in which case, prices could surge close to $70 over time. We're long from today, entered a 9.5% position at $28.15, shortly after the market opened. We may add to it on dips, if prices retrace back into today's range next week. Best of luck if following me here. Cheers, Ivan Labrie.
AMEX:GDXJLong
by IvanLabrie