More on Gold Miners

If we look at the Gold Miners ETF (GDX), which I now own as of yesterday, we see that the chart has bounced off of support of its 50 day moving average. The GDX is a little safer way to play the miners as it tracks the AMEX Gold Miners Index. Most importantly, from a technical position this etf bounced past resistance in a bullish flag position. It is very possible this area should continue to outperform the market in the short term.