With $GOLD nearing the downside target on my preferred scenario posted just over two months ago (the nearly 14 year long-term uptrend line & 61.8% Fibonacci retracement from the Sept 2011 peak), both GLD & GDX are among the more promising long-term trade ideas for 2014. Although my preferred scenario has a prices in GLD & GDX moving slightly lower, volume patterns on GDX are highly indicative of a selling climax and the miners could bottom at anytime now. As such, a scale in approach to GDX and/or select mining stocks over the next couple of months is my current preferred strategy.
A link to the live, annotated chart of the GDX daily chart shown above has now been added to the Live Chart Links page. As the mining stocks are among my favorite long-term trade ideas for 2014, I will also be adding a new category of chart links on that page showcasing some of my favorite individual stocks in the sector. That category as well as the other live charts will be updated on an ongoing basis to include some of the most attractive or important stocks, ETF, sectors or broad indices so make sure to check back from time to time for any additions.