GDXJ is called a junior gold stocks ETF, but its mainly comprised of intermediate producers, making it an ideal investment vehicle for a lot of gold bugs. A weekly close over $53 would target the $90 price zone. Short-term traders can play it with JNUG, and investors can buy the ETF and/or some of its component stocks. Like GDX, GDXJ is crushing the Dow. A breakout over $53 would probably create a scenario where a GDXJ elephant is stomping on a rancid US stock market tomato but really, thats already happening now!
Fantastic day for my Watchlist both on the long and the short side! Use Promo Code BARRIE4ALPHA for an instant 15% savings off the 1st month or full year of a TI subscription http://bit.ly/SubscribeToTradeIdeas The latest version of Trade … Continue reading →
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Two economic reports were released which demonstrate that the money printing is not helping the economy. In the fourth quarter of 2019, U.S. household debt pushed over $14 trillion, reaching an all-time record high. This was fueled by a surge in mortgage and credit card debt. Much of the the new mortgage debt consisted of cash out refis, which helped exacerbate the last housing bubble/collapse. Second, the U.S. Treasury announced that the Government spending deficit for January was $32.6 billion. This was considerably worse than the $11.5 billion deficit expected...