Updated

gdx broadening?

Potential for more pain for miners before a powerful run up

Note

daily perspective shows a bullish move out of downtrend.. Now, I'm waiting patiently for confirmation on that lower trend of broadening pattern:

Note

almost on the trendline. I expect some trickery/break below honestly:

I'm looking at taking some calls in GDX - might hedge/hold puts if it breaks

Note

looks really good in my opinion

Note

aggressive looking bull divergence down there on 4hr

Note

today has been a very good day. Waited and waited - adding gdx calls in this 'noise'. I believe this is the beginning of a much bigger move. I'll consider adding in any drop lower or test of trend (if it makes it back down!)

Note

miners, incredible. Very bullish. I do suspect a cool down before another VERY VERY bullish move going into dec-january. I'm waiting to see if it can pull back down and test the breakout level:

Note

hoping for gold/miners to cool down for a short bit before a large leg up. It's still a good buy in my opinion but I'm expecting some type of pullback

Note

I've never seen such a run in miners. I took profit way early.. had no idea. I added puts the last week, miners down 5% as I'm writing this. I am actually really wanting a large correction for the next 5-8 weeks. Seems dangerous to short miners but I did really well on it and I may just hold a few puts until correction is over. I'll be looking for another long opportunity because I think something bigger is coming. I don't know if this was 'the top' in miners/gold but it certainly could be the start of a larger correction:

Note

carefully adding a few puts here.. small position for possible continued correction lower before much larger bull run. I think it's possible we could have much more downside before the larger leg up.. technical correction:

gghsusa

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

gghsusa