The rally stalled last week, but we’ll give it the benefit of the doubt because it yielded a theoretically profitable ‘mechanical’ buy on Friday after falling to within a hair of the green line. The ensuing rally barely reached p=46.27, our first profit-taking level, but it was sufficient to fulfill the rule for a partial exit. Now, if GDXJ pokes into the ‘sweet spot’ midway between p and p2, you can use x=45.11 a second time to bottom-fish, stop 43.95. Otherwise, we can watch from the sidelines as bulls attempt to make their way to D=48.58.
GDXJ – Junior Gold Miner ETF (Last:46.02)
