Tuesday, May 25, 2010

GDX - A Buy

GDX has given a clear buy signal today. Next stop could be around the 50 mark where it has a gap that it needs to fill up. If it crosses 51, it will retest previous highs of 54+ in the near term.

Long GDX June 50 call @ 1.65 with a target between 50-100%. 2.6 is the next resistance (gap), 3.12 is the final one after which all hands loose.

Good Luck.
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