Two robustly bullish patterns are driving this vehicle at the moment, promising relatively safe transit to the 29.07 target shown. A gap up opening on Monday morning seems assured if Gold futures hold onto the gains they’ve racked up in the early going Sunday evening. This means that although there is no way to get ahead of the move, one can at least pull even with it by jumping on the February Comex contract overnight. _______ UPDATE (January 12, 7:22 p.m.): Buyers easily reached 29.07 as expected and now look poised for a follow-through to the 30.76 target shown. Now, a pullback to 28.34 could be bought with a ‘mechanical’ stop-loss at 27.52, although using the ‘camouflage’ entry technique would be less risky. _______ UPDATE: Wednesday’s bull-trap opening was nasty. We’ll back away from the stock while noting that a print below 25.91 would negate the 30.76 target. ________ UPDATE (January 15, 11:59 p.m.): GDXJ tripped another buy signal yesterday — to 30.25. Will it get there, or is it just screwing with our brains? The suspense is more than I can endure.
