Wednesday, March 3, 2010
GDX Breaks Out
Greece announced their 'Austerity' program today, Euro is up/dollar is down. Granted the problems with the Eurozone are far from over, but the markets seem to like today's actions. As I mentioned in past blog posts, this Friday's Jobs Report should be a pivotal data point, if bearish should draw the dollar lower. Market Vectors Gold Miner ETF Trust (GDX) has broken out of the downtrending channel, there appears to be more room to run on the upside...possibly retesting the January highs $50/$51? Set STOP @ 50ma.