Trade Alert: GDX

I don't think it's worth trying to squeeze much more out of our short GDX position. in fact looking at the daily chart you can see it trying to form a W with touches on the 100 day moving average last month and again yesterday.

So the sellers drove he shares the shares down to just under $36 last month, but failed to push it any further. Now they will try to push it under $36 again if they are successful it could go down quite a bit but let's not guess, just take your profits.

Buy to cover 25 shares GDX at $36.99.