GDXJ – Junior Gold Miner ETF (Last:)
by Rick Ackerman on March 1, 2013 2:26 am GMT
Opportunity and risk go hand-in-hand, and so we should view GDXJ’s dance at cliff’s edge as a potential buying opportunity. As always, we needn’t get swept up in the panic if the stock falls — only to diligently monitor the action on the one-minute chart, since that’s where others’ fears and nuttiness will reveal themselves in the form of simple impulse legs that can get us aboard safely precisely when GDXJ is reversing to the upside.
The two blue lines that extend to the edge of the chart are actually Tradestation screen alerts at, respectively, 16.04 and 15.73, and I’ll be using them to jolt me if something interesting happens. I’d suggest that you do the same, and to call out the trade in the ‘camo’ chat room if you’re feeling bold and helpful. This is a speculative play, mind you, and we shouldn’t lose sight of the fact that we have a bear market target at 13.15 that is still outstanding.