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VanEck Junior Gold Miners ETF

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GDXJ trade ideas

OPENING: GDXJ AUGUST 21ST 40/41/60 REVERSE JADE LIZARD... for a 1.06/contract credit. Metrics: Max Profit: $106/contract Max Loss: Undefined Break Even: No Put Side Risk/61.06 Delta/Theta: -14.82/2.72 Notes: High rank/implied at 41/59. I don't do these very often, but think downside risk is greater than upside, particularly due to call side skew (i.e., both shorts are set up at the 20 delta, but the put side is closer in price relative where the underlying is trading than the call side). The basic notion behind the setup: total credit received exceeds the max loss metric of the short put vertical. Since short put vertical side is a one-wide, it has a standalone max loss metric of 1.00. The credit received exceeds that by .06, so even if GDXJ blows through 40, I'll still make money/not lose money if I do nothing, although I can certainly roll down the short call side to attempt to get something out of the play if it comes to that. A defined risk counterpart of the same play would be something like the August 21st 41/42/55/60, put on for 1.00 or greater.
AMEX:GDXJ
by NaughtyPines
2
Possibles outcomes GDXJI´m very very bullish in the precious metals sector. That doesn't mean that it has to rise every day, every week and so on. In fact, corrections are sharp in this sector, and all those who have been investing in it for long know it very well, even during the bulling phases, like the one we are in. These are my views regarding the GDXJ fund (gold mining in general). Now gold has rose (and is rising) an so did the mining. GDXJ rose the same % (so far) as did in the previous "top" phase B in late February, before the collapse. About 7-8% (***). It can continue rising...of course, that would mean that you are short term (weeks) bullish in the sector. That´s ok. The bullish case is clear (clearer in many points than the bearish scenario, like price action itself, which is the most important) But there are other signs that are bearish for me, and I can avoid being bearish at this time. I'm expecting a bearish scenario from some days ago. First I was considering that B would be as A, (that means not rising such 7%) but I was wrong. I can still be wrong if gold goes on rising, and there is no special reason not to be the case. But if some patterns repeat....as they did before, there could be a drop. I don't expect a drop like the March one (of course), but a drop to the 42-38 (support) levels would probably occur if gold has some summertime relief. And that is what i´m betting. Good Luck. (****) 46,42 / 43,23 =7,4 % And 50,37 * 1,074 = 54,10 $ (close to the 54,56 $ top)
AMEX:GDXJShort
by JAY_c5velm
GDXJ Next Move UpSince last Friday, I expect a new leg up in the gold stocks. Minimum target the top channel. If new gold leg up is stronger gold stocks could go higher, surpass the channel and then correct. I expect this leg to last at least three days or so. Then..... Following previews patterns, consolation for a few more weeks, but unless there is very sharp upleg...I don''t expect any strong correction in prices. Just consolidation without crossing the horizontal line in the short future (next two months). That also means that I don´t expect gold to go down from this levels. If there is a sharp leg up, it cant correct again to this level, but not less. This is my scenario in the near future. let see how unfolds. Good luck. Just my opinion. You don´t need my help to loose your money.
AMEX:GDXJ
by JAY_c5velm
The case for GDXJ explosive summer move I will share my thoughts. I´m fully invested in gold stocks. My chart indicators "tell" me. - Daily charts have corrected and also is expected a rising in stocks next weeks. I expect that we finally reach and surpass the 48-50 level. About a 10% rise from today levels. - A daily full stochastic is "telling me" that we are in course of a correction (that´s true, specially for the HUI index, which has been more dynamic than GDXJ so far.) But there is always a rebound which is beginning and will resume next week. - Previous legs like that reached at least the previous top of even a 8% higher. Then the correction resumed some more time. - If the trend is strong, this correction could not happen so soon. So considering all this i would expect a one week two weeks uptrend following by a correction, but without going through current levels of prices. In a more bullish case - Weekly gold stocks relative to bullion are oversold as they where in previous bottoms. So it could be expected several weeks of rising. That is also true for HUI, XAU, GDX. - Gold stocks are surging from a multiyear bottom, so they are eventually gaining strength. - Many times before gold and gold stock made and extreme move just to get momentum to do the opposite. The rised fast before a sharp drop or viceversa. My believe is that´s the case right now, with March drop. So, in all this "is true",and comparing last year with today, and if gold rises...rich is happening... then we could reach at the end of July or beginning of August a higher lever for GDXJ (lest say 65...or something). Well, that is a 50% increse from todays levels. Anyway, remember. Nothing drops faster that a gold stock. Nothing. (I think Einstein missed this point in the General Relativity Theory)
AMEX:GDXJLong
by JAY_c5velm
1
BULLISH GOLDEN CROSS ON JUNIOR GOLD MINERS 15MINA BULLISH TECHNICAL DEVELOPMENT ON THE 15M JUNIOR GOLD MINERS GDXJ CHART AMEX:GDXJ AMEX:JNUG BMV:JNUG CURRENCYCOM:JNUG CURRENCYCOM:JDST BVL:JNUG BMV:JDST CURRENCYCOM:JDST OANDA:XAUUSD OANDA:XAUCAD AMEX:GDX AMEX:BTG NYSE:AUY BCBA:AUY AMEX:SILV NASDAQ:PAAS AMEX:SGDJ AMEX:SILJ SWB:G2XJ SOIURCE: www.investopedia.com What is a Golden Cross? The golden cross is a candlestick pattern that is a bullish signal in which a relatively short-term moving average crosses above a long-term moving average. The golden cross is a bullish breakout pattern formed from a crossover involving a security's short-term moving average (such as the 15-day moving average) breaking above its long-term moving average (such as the 50-day moving average) or resistance level. As long-term indicators carry more weight, the golden cross indicates a bull market on the horizon and is reinforced by high trading volumes. www.investopedia.com():max_bytes(150000):strip_icc():format(webp)/GoldenCross-5c6592b646e0fb0001a91e29.png KEY TAKEAWAYS The golden cross is a technical chart pattern indicating the potential for a major rally. The golden cross appears on a chart when a stock’s short-term moving average crosses above its long-term moving average. The golden cross can be contrasted with a death cross indicating a bearish price movement.
AMEX:GDXJLong
by HandofGold
2