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Gold/Mining/Energy : McEwen Mining
MUX 18.26-0.9%3:59 PM EST
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To: CurveBall86 who wrote (8257)9/8/2014 11:42:39 AM
From: semi_infinite   Read Replies (3) of 24527
 
Looking for clues as to where gdx may reverse. The components are all ugly including the SA miners which tells you how negative the sentiment has become on GC longer term given that they are the low cost producers. There is really one more gap to fill in the major component, that would be NEM about another buck and a half down from here. That plus GC holding above June lows would be support to bounce off of. Shorted an weekly otm put spread on nugt just for the heck of it. It is a 50/50 proposition. Had played dust on the long side but was way too early and got out of it.
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