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Monday, July 20, 2009

Gold and Gold Miners

I wrote Thursday about gold/gold miners are at a critical level.

Today it is looking like GDX may break above the critical line I was watching, expecting it to break down. GDX could be bought today with a "sell" if it breaks below 39. This is why my primary trading is based upon the long trend, and over the next decade natural resources should do great. The entry point into any long term play is difficult. When GDX was 17, to many at the time it looked like next stop was 8.

I remain CAUTIOUS, and want to see GDX close above 39 for a few days, if you buy GDX or gold miners, I still advise caution if it closes below 38.

From WebSurfinMurf's Financial Blog

From WebSurfinMurf's Financial Blog

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