The Market Vectors Gold Miners ETF (GDX) attempts to replicate as closely as possible the price and yield performance of the Amex Gold Miners Index.
GDX is in a bull market with both the long-term support line and the 200-day moving average at near $40. Although this is a volatile performer, bouncing 10 points between the high and low of its bull channel, the volatility gives us a second chance to buy this stock at a good price.
The near-term target is just above $50 where it could encounter some resistance. But for those who are seeking a longer-term investment in a gold substitute, GDX might fit the bill with a $75 long-term target.
Next: Trade #4: PowerShares DWA Emerging Markets Technical Leaders Portfolio
Closing Bell: When We All Love the PIIGS (NBG, SQNM, PG, ERTS, KO)
Serious Money: Cheapest Stocks List Shrinks from 26 to 21
Chasing Value: Hasbro Earnings Makes My Point
