Comments on: GDX Trade Update, Bearish Pennant Breakdown

By: joefriday

joefriday — Thu, 01 Sep 2016 11:54:48 +0000

In reply to joefriday. Sold my dust...watching forming of potential 4hr bullish divergence in GDX

By: rsotc

rsotc — Wed, 31 Aug 2016 16:21:58 +0000

In reply to GetItRiight. Congrats on that DUST trade GIR. I agree, no need to force another trade if you don't have a high degree of confidence. Hope the storm misses you over there. Down here in FL I have the same tropical depression that forced me to cancel a fishing trip in the Bahamas last weekend now crossed over into the Gulf from the Atlantic, poised to hit north FL as a tropical storm this weekend. Hope you get some sunny days in before your vacation ends.

By: dan123

dan123 — Wed, 31 Aug 2016 13:48:13 +0000

Thanks Randy

By: GetItRiight

GetItRiight — Wed, 31 Aug 2016 04:00:12 +0000

Posting less, since I am on vacation on Maui right now (on hurricane watch), but still managed to put in a good DUST long trade based on your bearish pennant chart pattern. Managed to exit pretty well at 41, with the high at 41.09. GDX tagged the longstanding down trend line from the ATHs almost to the penny, depending on how you draw it. I would expect a stronger reaction from this, as it is a first time hit since Jun 23, but no more than 26.7, which is the bottom of the consolidation range from these last few days. One thing that gives me pause in buying DUST again if it gets there, is that daily RSI is under 30, slightly oversold. I will keep watch for now.

By: joefriday

joefriday — Tue, 30 Aug 2016 23:34:42 +0000

Thanks Randy…I’m holding my DUST until GDX sees at least $25.. will re-evalulate then..assuming I’m right and it gets that low..