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Tuesday, August 27, 2013

Gold Miners - Stop losses

I put stop losses on about 1/2 my shares for GDX and GDXJ.

If the miners finally bottomed, then we should not see a significant pullback to the levels we saw.
So, I may be wrong, and miners are headed lower.

GDX stop loss I put at 27.25
GDXJ stop loss I put at 45

Gary of smart money tracker put it at different levels than I did.
I want to give this more range than normal, I don't want to be whip-sawed out of the position.
But I also don't want the stocks to melt, and I sit watching the miners fail.

Take a look at your cost-basis, and stock charts, pick what is comfortable for you.
My target to sell is 2017+, or 300%+ profit.

Good luck

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