GDX – Gold Miners ETF (Last:33.39)

My attempt a month ago to crowdsource bullish trading ideas in this stock elicited just one timely suggestion  — thank you, Ray — although there were a couple of old-school Pivoteers who took the ostensibly easy route by shorting the stock at each minor Hidden Pivot rally target as it rose massively from the low $20s.  There was a time not long ago when I tracked GDX and made frequent trading recommendations. Over time, though, it wore me out, especially the psychotic swoon in March. I figured that if the interest was there, there would be plenty of tradeable ideas aired in the room, but I figured wrong. Anyway, I don’t want to see GDX double in price again and find that we — meaning all of you who are reading this — never held an “official” position. I am therefore jumping back in again to play a more active role, and it will again be commensurate with the interest that you show in trading/owning this vehicle. No matter what, I will be happy to vet any set-ups that others post.

The chart explains why GDX is 99.99% certain to run up to at least 36.75, presumably over the near term. It was a buy last week at 33.06, stop 31.83, but it’s too late for that now. If you are a beginner or new subscriber who has never netted a dime off any trading service, especially Motley Fool, I am going to make achieving this goal as easy as for you as I can. In the weeks ahead, if you don’t have the time or  inclination to monitor the chat room for simple trades like the one that is coming in GDX, then I’d suggest checking out the touts section from time to time for cheap, low-risk ‘mechanical’ set-ups that will require little knowledge, effort, trading skill or capital. And if you know of any guru putting out option trades for dummies that work and have been living up to said guru’s promotional claims, please let me know, since, like you, I want to retire someday on Easy Street. ______ UPDATE (Apr 27, 8:48 p.m.): My comments seemed to have sparked some interest, since a few Pivoteers posted entry set-ups in the Trading Room this morning. I will myself if I see an opportunity with relatively little risk developing. _______ UPDATE (Apr 29, 2:00 p.m.):  A GDX trade that I posted in the Trading Room 40 minutes ago is now profitable. You should be holding 200 shares of 400 bought at 33.02, with an effective cost basis of 32.62. I have delivered on my promise: a ‘starter’ position in this stock that risked almost nothing on entry. How many of you did the trade? I will track it in any event, since it was simple, risked little and did exactly as expected. Now, offer an additional 100 shares or 25% of your original position at 33.60. The order should be worked o-c-o with a stop-loss on the entire remaining position at 32.91 (corrected from 33.91).

  • ed brunoro April 26, 2020, 8:06 pm

    hi rick : do you reach canadian stocks ? aim mostly into precious metal stocks and and stick to only canadian stocks . is this only ba traders service ? ed

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    Only those that have symbols on U.S. markets, Ed. RA