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Posted by ZorTrades


Frank Zorrilla is the founder and chief investment officer of Zor Capital LLC.He began his Wall Street career 10 days after his 20th birthday when he became a Series 7 licensed stock broker.

Mining For Ideas

by ZorTrades on June 28, 2013

in Stocks, Technical Analysis

I have mining on my mind today, I’m looking to trade them on the long side today if they show any sort of strength (every dog has his day).   And I’m hoping that the sentiment for this post goes along the line of; “ here is another douche trying to pick a bottom on the mining stocks

$GDX $NUGT, $SID, $MTL, $ANR, $EXK, $EGO, $HL, $KGC, $ACI, $WLT, $BTU

4 instances is not enough to take any historical data seriously, but how many times have you seen a non leverage ETF go down 20% in 2 weeks?  It has happened 4 times on $GDX and here are the results 5 days later;

Here is a sample size with 30 trades of when the $GDXJ has gone down over 20% in month;

Seasonally things start to look better for the $GDX starting in July;

gdx_seasonal

SOURCE; PASTSTAT.COM

Source; SeasonalOdds

 


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