GDXJ flashed a buy signal a week ago that was every bit as appealing as the one I’ve noted in the Silver tout immediately above. The only difference is that the former broke down last week, stopping out any long position initiated at 121.07. I hadn’t advised this, but the cautionary outcome should soften our expectations for gold, notwithstanding my active recommendation to jump on Silver using a ‘camo’ trigger. If the dubious Hidden Pivot support I’ve sketched at 111.80 doesn’t hold, look for more slippage down to at least 107.89, a ‘d’ target worth bottom-fishing. ______ UPDATE (October 9): The potential bottom that GDXJ made last week occurred just 7 cents below the 107.89 target where I’d suggested bottom-fishing. A bid there, even using an ultra tight stop-loss, could have reaped a two-day gain of as much as $700 per round lot. However, because no one showed an interest in the trade or the result, I will be removing GDXJ from the list and substituting a yet-to-be-determined symbol capable of lending more energy to the home page and chat room. If GDXJ keeps rising and interest in it picks up, I will consider restoring it to the list.
GDXJ – Junior Gold Miner ETF (Last:114.43)
