Thursday 26 April 2018 | The view from Wall Street & Silicon Valley


Buy the break out of the GDX

By Ben Turney | Tuesday 12 August 2014

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from TopStockProphets). I have no business relationship with any company whose stock is mentioned in this article.

Yesterday we published Mike Swanson’s view that gold stocks are “like a fuelled rocket” waiting for ignition. What Mike’s analysis didn’t provide were any specific pointers to look out for in tradeable opportunities, beyond a general buy recommendation for the sector. Recovery in the gold mining sector was one of my “Trading Themes for 2014”. So far it has been a good call. I didn’t anticipate fireworks, but the across the board signs of improvement have been encouraging and the gains in stock prices decent enough. We have now entered what could prove to be a crucial period in the gold miners’ attempts to rediscover market favour. There is a very simple way to play this possible move; spread bet the Market Vectors Gold Miners ETF, otherwise known as the GDX.

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