Where are the Gold Miners Headed?
Today I am starting a series of weekly posts about the most actively traded ETFs. My initial focus will be on ETFs that invest in stocks that trade in the United States.
I am starting with the VanEck Vectors Gold Miners ETF (GDX). GDX has a 3 month average daily volume of 73.6 million shares. Various sources have the Gold Miners listed as either the number 1 or number 2 most actively traded ETF.
Gold Miners
The chart below is a daily chart of GDX. I talked about GDX, GDXJ and NUGT back in a video on August 6th. At that time I felt that these ETFs were at the end of a 5 wave run or very close to it. I was a few days early. Continue reading