GDXJ- Bullish Rest Of 2017What is GDXJ- VanEck Vectors Junior Gold Miners ETF
If you buy or sell gold or miner stocks or ETFS, you might want to keep an eye on this.
The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVISA Global Junior Gold Miners Index. The fund normally invests at least 80% of its total assets in securities that comprise the index. The index includes companies that generate at least 50% of their revenues from gold and/or silver mining/royalties/streaming or have mining projects with the potential to generate at least 50% of their revenues from gold and/or silver when developed. It is non-diversified.
You can read about GDXJ or any other stocks, ETF's at free website: finviz.com
*NOTE: This is optionable and last 52 week range was 27.37 to 52.50, volume is very liquid with over 14,000,000 daily. They even have a great dividend at around $1.50 (once a year in December). FYI, stay calm in trading. Emotions will not change the course of price action.
GDXJ trade ideas
If XAUUSD continues up, GDXJ to $34 then ShortCompare this up movement to March. The first reversal in gold has the most impact on miners. Miners shoot up and then the first sign of weakness, they drop. Miners don't even touch the edge of the triangle until the second leg up.
Miners will be sideways/sliding down until one last drop, then i think the rocket is ready for launch
TREND SIGNAL = LONG, MAY 10 @ $30.95 ($GDXJ $JNUG $GLD $NUGT)May 15: Miners continue their run up from the early May lows. Today opened at the 50 MA and turned down hard. But the bulls stepped back in to end the day nicely above the 5 MA. From here it needs it needs break through the 50 MA to head towards a couple gap fills above. On the downside it would be rather bearish to see this break todays low. One could possibly try an entry here with today's low as a stop loss point.
gdx, gdxj gold miners rebound till augustminers and gold made quite massive moves down.
after breaking the assumed trend line from the december lows we must find a different pattern to explain the recent moves.
my best explanation now is that we are about to complete an abc correction(now-august) before the last leg down(aug-dec).
this would also coincide with the seasonality in gold---up from now till august, then down till december...
Strangle on GDXJ for a 61% probability tradeIt looks like Sellers are starting to come in, and I don't think buyers will give up that easily, so I expect some 2 way action in the next 30 days. With a decent IV Rank of 39 I want to sell some premium to add to my theta numbers.
The trade:
Sold the 32/37 Strangle for $1.83 per contract
61% probability of profit
Will look to close it at 50% of the premium received to improve our probabilities.