Gold update #5
Quick update: I now have a full position in the gold miners.
The chart below shows how I have scaled into the miners since Oct 7. Green boxes are dates when I wrote a bullish blog post, the red box is when I got short-term cautious.
My average cost basis for GDX is $31.70, which gives me an 8% cushion from current levels. I have similar cushions on GDXJ and SILJ.
What got me to add here?
GDX Daily: Breakout.
As this is a daily chart and gold miners are volatile, there could very well be some chop here. However, the cushion on my position lets me sit tight.
Let’s look at charts on a bigger time frame.
Yesterday, I wrote a post discussing 20 PM stocks on the venture exchange. Here are 4 venture stocks that are entering stage 2 after a 1yr+ consolidation within a strong uptrend.
Thanks for reading.
Important Disclaimer: This blog is for educational purposes only. I am not a financial advisor and nothing I post is investment advice. The securities I discuss are considered highly risky so do your own due diligence.