Teetering Miners

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I am continuing to have great fun with virtual trading (and we’re improving it all the time behind the scenes), and yesterday I bought some puts on GDX, the precious metals mining ETF. So far, so good:


Here is GDX. There is no breakdown yet, but if it slips below that horizontal, look out below.

slopechart GDX

The junior miners, symbol GDXJ, looks virtually identical, and the same argument holds for that horizontal support line.

slopechart GDXJ