LONG Gold Miners on Consolidation Breakout & Close on D1

6 nov 2020

Long all four names on pullback/retest just above consolidation breakout zone on continued earnings flow & dividend increases sector-wide. Initial stop below most recent swing low below the breakout zone. Hold long position through further price markup into monthly R2 pivot resistance line, at which point reduce exposure by 1/3 just below monthly R2 level and bring stop to above break-even average cost-basis price, targeting December 2020 monthly pivot point R2 zone. Not advice but does appear to be higher probability setup as the Gold Miner should continue to print big revenues & earnings into early next year. Keep eye on NUGT & JNUG as they are 2x levered to the GDX & GDXJ respectively. Not for faint of heart, but is attractive nonetheless; however, only with proper rigorous risk-management by experienced trader should these even be considered. The safer (non-levered) play here (in my humble, non-expert view) would be the SGDM & SDGJ, as they are not levered ETFs.