FreeGDX5 min read
GDX: the breakout level to watch
GDX
Delayed
GLD
Delayed
SLV
Delayed
The thesis
Positioning is light enough that a move feeds on itself.
A clean breakout above the range opens meaningful upside.
What I'm watching
- GDX vs real yields
- the key breakout level
- A clean move through the level I flag below
Positioning
Long on GDX, 2-12 weeks horizon. Conviction: Medium. Dollar strength caps the move; I watch DXY closely.
Opinion, not investment advice. The author may or may not hold positions discussed.
Opinion. The author may or may not hold positions discussed. Not advice. Not a financial promotion approved under FSMA s.21. Quote data is delayed. Past performance is not a reliable indicator of future results.
Comments
2 commentsCame back to this after the move — held up well.
The framing here is what got me to look at GDX properly.