GDXJ is selling off without having quite reached a middling rally target at 20.81 (see inset). This has mildly bearish implications for the near term, but we can nonetheless try bottom-fishing with tight stops, since the bigger picture still looks promising. Accordingly, I’ll recommend bidding 19.64, stop 19.56, for 400 shares. As you can see, our bid lies four cents above the 19.60 D target of the minor corrective pattern shown. (There are alternative abc corrective patterns, but I’m trying to keep it simple.)
