A Peak Under The Hood will be dedicated to providing unique insights into macro topics happening around the world and how these topics may affect financial markets. We will try to provide an entertaining, but informative blog, on subjects ranging from Real Estate, Mortgage Markets, Commodities, Major Stock Indexes, Bonds, and Select Trading Ideas. Our site will contain original posts, charts and also include opinions from outside investors and reporters who furnish original thoughts. We will attempt to dig deeper than what can be found on major network financial news outlets and it is our hope that you will continue to visit the site as we provide intelligent analysis that may be counter intuitive to mainstream ideas.

Tuesday, March 15, 2011

GDX ETF which tracks large cap gold and silver miners has formed a lower high earlier this month. If it breaks the trendline and highline support which it is currently sitting on then it could see an acceleration of selling pressure in the near future. If it bounces off these two points it could bring new highs. My point is it is a good trade (risk, reward) either long or short with defined stop losses. I would lean towards the short side if that area is cracked. If it bounces I would lean long with a tight stop.

No comments:

Post a Comment