I have mining on my mind today, I’m looking to trade them on the long side today if they show any sort of strength (every dog has his day). And I’m hoping that the sentiment for this post goes along the line of; “ here is another douche trying to pick a bottom on the mining stocks”
4 instances is not enough to take any historical data seriously, but how many times have you seen a non leverage ETF go down 20% in 2 weeks? It has happened 4 times on the Market Vectors Gold Miners ETF (GDX) and here are the results 5 days later;
Here is a sample size with 30 trades of when the Market Vectors Junior Gold Miners ETF (GDXJ) has gone down over 20% in month;
Disclosure: The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
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