Welcome new reader!

Financial news I consider important, with my opinion, which is worth as much as you paid for it.
Please click HERE to read a synopsis of my view of the financial situation.

Thursday, June 20, 2013

Gold Miner bloodbath

The GDX ETF has really hit the skids.  The overall market is just slightly below all time highs, and gold miners are at lows not seen since the 2008 crash!

If that isn't a buy low, sell high setup, I don't know what is.

If you managed to stay out of this until now, this is really decent to START buying.
put bids in at 5% here, 5% at 21, 5% at 16.
Granted, it is possible that the miner go lower than the 2008 crash, worst crash since the great depression.
OR we are nearing a multi-year low.

I  put bids in for January 2015 calls strike 35, at 5 contracts at 1.50.  Risk 750, reward 'unlimited' ;)

Good luck.

No comments:

Post a Comment