Closing Out GDX Trade Early for 17% Profit

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Closing Out GDX Trade Early for 17% Profit

Upon further review of the charts, I have decided to close out the GDX long swing trade at the current price of 21.20. This results in a total gain of 17.3% from the entry at 18.07 on November 4th or a beta-adjusted gain of  13.9% (adjusted for the 0.80 suggested beta-adjusted position size). Previous & updated 60 & 120-minute charts below:

The original final target was set not far above at 21.69 but it appears to me that the odds for a pullback in gold as well as GDX are substantially elevated at this time & as such, the R/R to remain long for another ~2% upside while risking a considerable giveback of profits is not favorable. GDX will now be moved to the Completed Trades category, along with all associated posts, to be archived indefinitely for future reference.

2019-01-03T11:03:53+00:00Jan 3, 2019 11:02am|Categories: Completed Trades - Long, Gold & Commodities|Tags: |3 Comments


  1. Kostner January 3, 2019 11:12 am at 11:12 am

    Thanks for that trade Randy Just got out!

    • rsotc January 3, 2019 11:29 am at 11:29 am

      Congrats. GDX could very well continue up to that original final target, possibly beyond, but if the market soaks up today’s selloff & takes out yesterday’s highs, I suspect that the risk-off trades like TLT & GLD will melt down like a hot knife thru butter. Just not worth trying to milk out an additional 2% or so IMO.

  2. Suncor123 January 3, 2019 1:55 pm at 1:55 pm

    Hi Randy can you take a look at
    Au Angloashanti Gold one of your
    previous picks which is outperforming
    GDX levels and thoughts??? Thank you


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