Saturday, April 02, 2011

Two "G" ideas for next week

The best two ideas we have for next week are swing long $GS and $GDXJ.  Both these names have been recently on our radar, as posted on change of character tweet as it lifted off the 200SMA on Tuesday and $GDXJ trend-line break that we have been patiently waiting for all week.
Here are the updated charts:

The 200SMA held and this financial king is starting to act better — we like the recent action and think it’s a good swing candidate on the break of trend-line/50 SMA which are almost aligned near 162.

We always have an eye on this gold miners juniors ETF as it is, in our opinion, the best technical ETF out there.  We were hoping to get in near 37.2 for entry and hold for reversal back up to the trend-line but it never pulled back to that area.  We like the recent basing  and like this as swing long on break of trend-line.