Tuesday, February 8, 2011
Wednesday, February 2, 2011
Buying Market Vectors Gold Miners (GDX) on the NYSE
I am buying today at a price of $54.92 the ETF Market Vectors Gold Miners (ticker: GDX on NYSE) for a total of $10,000. Stop loss: $48.0
This ETF seeks to replicate the price performance of the NYSE ARCA Gold Miners Index. This index provides exposure to publicly traded companies worldwide involved primarily in gold mining. Main holdings include: Barrick Gold, Goldcorp, Newmont Mining, Kinross Gold, AngloGold Ashanti, Yamana Gold, Eldorado Gold, Cia de Minas Buenaventura, Gold Fields, Agnico-Eagle Mines.
I am buying this ETF to protect my portfolio against paper currency debasement and the associated expected inflation. The Energy Select Sector SPDR ETF (XLE) and the PowerShares DB Multi-Sector Commodity Trust Agriculture Fund (DBA) serve the same purpose.
See the weekly chart below: price has been decreasing to reach the 50 week moving average, which has proved in the past to be a good spot to enter into this position with an advantageous risk/reward ratio.
This ETF seeks to replicate the price performance of the NYSE ARCA Gold Miners Index. This index provides exposure to publicly traded companies worldwide involved primarily in gold mining. Main holdings include: Barrick Gold, Goldcorp, Newmont Mining, Kinross Gold, AngloGold Ashanti, Yamana Gold, Eldorado Gold, Cia de Minas Buenaventura, Gold Fields, Agnico-Eagle Mines.
I am buying this ETF to protect my portfolio against paper currency debasement and the associated expected inflation. The Energy Select Sector SPDR ETF (XLE) and the PowerShares DB Multi-Sector Commodity Trust Agriculture Fund (DBA) serve the same purpose.
See the weekly chart below: price has been decreasing to reach the 50 week moving average, which has proved in the past to be a good spot to enter into this position with an advantageous risk/reward ratio.
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