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VanEck Junior Gold Miners ETF

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GDXJ trade ideas

GDXJ - Ending Diagonal In ProcessI'm seeing wave C possibly shaping up as an ending diagonal to complete wave 2 of the larger degree correction. If the price movement follows the blue count on the chart, we should be going down in 3 waves a-b-c to form a bottom around the 50% retracement of the larger impulsive wave 1 high of 52.50, potentially going a bit lower. This would be an excellent opportunity to catch the following impulsive wave 3 up which will very likely take the GDXJ all the way up to 100 and above.
AMEX:GDXJ
by Eboard10
SOLD GDXJ SEPT 16TH 45 PUT.... for a .67 ($67)/contract credit. This and $GDX are currently probably the highest implied volatility exchange-traded funds, so I'm just selling a little premium here without taking on the upside risk that doing a strangle would entail. That being said, I'm fairly sure I don't want to be put GDXJ at 45 (lower would be preferred for a long position), so I will watch it and roll down and out to an expiry in which I can get a credit for the roll in the event price poses a threat to the short put ... .
AMEX:GDXJ
by NaughtyPines
2
GDXJ - Selling into the breakoutGold price was pulled up on low volume Friday after the NFP data. A strong NFP data should have caused a steep decline in gold but I think nobody was prepeared for that at Smartmoney. So what can the banks do in this case? Bullion banks are starting to pull up gold price in the low volume Friday afternoon session. In the gold bull market - and miners bull market - traders get used to buy the dip so they think the rally will last forever. But not this late in the daily cycle and so much stressed above the 200 EMA on the daily chart. Miners are due for a correction and I think we have seen the top in GDXJ and GDX yesterday. The artificial gold rally on Friday gave the chance to miners to rally higher and banks could sell into this breakout. I'M looking forward to see a GAP down open in the miners on Monday.
AMEX:GDXJShort
by chartwatchers
41