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Politics : Technical Analysis
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To: CurveBall86 who wrote (10167)8/29/2013 7:26:00 PM
From: Robov  Read Replies (1) of 14245
 
There analysis is almost spot on with the one I provided here on the GDX. I see on all three charts that they post that all have gaps and they all right at or near that 50 DMA that they expect to hold as support . There are many other miners across the sector that have a lower gap as well and as they state in the article a pullback at this point would be healthy in that it would allow some of the current oversold conditions to be worked off before any move higher.
Having had an average price of 2.70 on my Canadian MUX position I sold the balance of that position today in anticipation of re-entering in at lower levels and increasing the size of that position in anticipation of this being the final opportunity before we move into much higher prices this fall. Just hope I made the right decision.
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