Market Vectors Gold Miners (GDX) Long

Posted on 10. Mar, 2010 by Founder in Blog

Market Vectors Gold Miners (GDX) may be setting up for a nice long trade here soon. It’s already broken out above a three-month downtrend line, as well as its 50-day MA. If it continues to show strength here soon and breaks above this 4 day high then it could be a good short-term long trade or a great entry for those who are long term bullish in GOLD. Have fun!

Gold GDX Market Vectors ETF

Posted on 23. Feb, 2010 by Founder in Blog

The Gold GDX market vectors ETF has been holding (fairly strong) it’s recent rally higher. However I think we could see some weakness before it gets any higher than it is right now. Continued weakness in the dollar could obviously help.

Commodities Trading During Expiration Week

Posted on 11. Nov, 2009 by Founder in Blog

Commodities trading during expiration week and be very tricky. Recently commodities  have resumed their rally as Gold futures (/GC) hit new highs yesterday as demand for this precious metal continues. Oil (/CL) and Natural Gas (/NG) futures have traded in a tight range over the past few weeks with no real direction holding for long. Here is a look at the Morgan Stanley Commodity Index (CRX) and where we think things are headed.

CRX

As these commodities trade at high levels, underlyings such as Freeport –McMoRan (FCX), Caterpillar (CAT), Gold Miner’s ETF (GDX), and Oil Services ETF (OIH) are also trading at yearly highs. Demand from China and other emerging markets continues to fuel the rise in prices for many of these commodities and stocks. With little market news being released this week, we will turn our focus to next week’s release of the Producer Price Index (PPI) on Tuesday. November Option expiration is 10 days away so next week could be a volatile one – so be careful out there.

GDX, Gold Futures Hit New Highs

Posted on 11. Nov, 2009 by Founder in Blog

GDX and Gold futures climbed to a record on this morning, as dollar weakness continued to draw buyers into the precious-metals market. Here is the chart of the GDX.

GDX

Gold for December delivery, the most actively traded contract, soared to a high of $1,118.60 an ounce in electronic trading on Globex, surpassing Monday’s high of $1,111.70 an ounce. As long as the U.S. dollar is trending down, the gold price is unlikely to soften meaningfully. Longer-term support will be maintained from our belief that the U.S. Federal Reserve will maintain low rates, worries we have over the situation in Iran, and from increased investor interest.