The 39.52 rally target shown corresponds to my immediate, respective targets for June Gold and May Silver. That’s good reason to be cautious if and when the target is reached. I expect a tradeable pullback in any case, but the most bullish scenario for bullion would be for buyers to forge past the ‘hidden resistance’ quickly and without much trouble. To play the countertrend, consider doing covered writes against long positions or even shorting GDXJ with put options if and when it gets within 0.20 or so of the target. _______ UPDATE (Mar 29, 8:08 p.m. EDT): Careful! Today’s pop to 39.38 came close enough to the target for it to be considered fulfilled. No one mentioned it, so I won’t be providing any follow-up till I refresh touts on Sunday. The ‘buy’ signal flashed on March 13, telegraphing a 17% move from 34.07.
GDXJ – Junior Gold Miner ETF (Last:38.89)
