Thursday, June 26, 2014

New position: Short GDXJ

GDXJ was a stock (actually an etf of the junior minors) that got my year off to  a great start.
 Although that move failed, I got out with great profits.   It sank back down and has recently rallied.   This time I'm playing the fade.

Short $40.76.   The news that sparked the rally was overblown in my opinion.  My sources tell me that it was short covering and that the smart money was selling into the rally.   I think it is likely that it will fade again.

Stop @ 44 R. 1.5

No comments:

Post a Comment