Gold Miner Short Covered

I am not bullish on the miners as a group because the technicals are bear biased and the fundamentals are not nearly all in place. But the ones I hold (smaller items) are generally doing well and the sector as a whole has been beaten enough, post-FOMC. They told me in Stock Trading Genius 101 not to be greedy so the NUGT short joins the silver short (via DSLV) in booked profit territory.

While GDX does not look good, the daily chart of GDXJ is at a potential bounce point of an up channel (which could also prove to be a bear flag, eventually). We’ll see.


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