Tuesday, January 26, 2010

GDX Enters the Itz Pix Portfolio

The metals are selling off this morning, gold is testing that $1086 level. Itz is suggesting a new BUY, the Market Vectors Gold Miners ETF (GDX) currently trading at it's 200-ma and lower end of an uptrend channel. Gold is selling on the China newes of credit tightening, the US Dollar is now creeping slowly to the 79 level. Suggest taking a position here and watching how the weeks plays out with the State of the Union and FOMC meeting and also Bernanke reconfirmation. Set stops accordingly. Entry Price $42.50

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