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GDX At Support, Bounce Likely

GDX (Gold Miners ETF) is now at the 2nd support level where a reaction is quite likely. I closed about 70% of my position (all DUST shares... still long GDX puts) but plan to re-enter shortly on the next decent bounce.

GDX 60 minute 2 Oct 19th

GDX 60 minute 2 Oct 19th

 

DUST (3x short miners ETF) is now up 21..5% since the entry on Thursday as GDX hits the next support level. Consider booking partial or full profits and/or raising your stops, depending on your trading plan.

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Oct 19, 2015 1:12pm|Categories: Completed Trades - Short, Gold & Commodities|Tags: , , |2 Comments

2 Comments

  1. rsotc October 19, 2015 1:20 pm at 1:20 pm

    Update: Still holding the GDX puts (& may close some or all here soon) but went ahead & reversed that DUST long to a NUGT long to bring me net long for a potential bounce trade.

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  2. jethro73 October 19, 2015 1:45 pm at 1:45 pm

    My apologies. I just saw your latest post. Thank you so much for what you do Randy. It helps tremendously.

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