GDXJ struggled for eight months to push decisively past midpoint resistance at 49.02, so there are no guarantees that it will easily reach the 72.23 target, especially straightaway. More likely is a ratcheting move to the target that requires 6-8 weeks to complete. Gains from one peak to the next will likely be smaller than theoretical losses incurred from holding shares from trough to trough, but that also means positions can be ‘worked’ with covered writes on the way up to squeeze additional yield from your position.
GDXJ – Junior Gold Miner ETF (Last:61.22)
