GDXJ has gotten hit hard in recent days and may be ripe for some judicious bottom-fishing. Accordingly, based on a Hidden Pivot correction target at 40.18 (see inset), I’ll suggest bidding 40.21 for 800 shares, stop 40.11 on half the position. You can use call options instead, but I am not explicitly recommending them because they seem too pricey. If you fill an option order, though, please let me know in the chat room and I will establish a tracking position. _______ UPDATE (2:56 p.m. EDT): GDXJ plunged $1.41, to a so-far low of 40.19, so I’ll consider the position filled. I’d suggested taking a partial profit at 40.79 on the ensuing rally, but it failed at 40.71, so we still have 800 shares. Now, offer 400 shares to close at 40.79, o-c-o with a stop-loss on 400 shares at 39.99 — 12 cents below where I’d originally advised. Regarding the 400 shares that would remain in any case, I am placing no stop-loss on them, at least for now.
