GDXJ - follow up.
GDXJ has been basically flat since I got in @ $40.25
I still believe the golds are all making a large head and shoulders pattern. My only real fear is that maybe it is too obvious. Meaning that maybe it is becoming a crowed trade. In my experience it seems like the prettiest chart patterns tend to fail.
Another interesting thing I came upon is that it seems several Funds are taking interest in this ETF as well. In fact, according to
whalewisdom.com/stock/gdxj there has been increase of 36%. Compare this with SPY and QQQ which is 1% and -8% respectively.
Another interesting point of research is that gdxj and gld both have outperformed spy 80% of the time in Aug. Sep has under-performed.
stockcharts.com/freecharts/seasonality.php?symbol=gdx
I still believe the golds are all making a large head and shoulders pattern. My only real fear is that maybe it is too obvious. Meaning that maybe it is becoming a crowed trade. In my experience it seems like the prettiest chart patterns tend to fail.
Another interesting thing I came upon is that it seems several Funds are taking interest in this ETF as well. In fact, according to
whalewisdom.com/stock/gdxj there has been increase of 36%. Compare this with SPY and QQQ which is 1% and -8% respectively.
Another interesting point of research is that gdxj and gld both have outperformed spy 80% of the time in Aug. Sep has under-performed.
stockcharts.com/freecharts/seasonality.php?symbol=gdx
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