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June 12, 2009 / Jeb

Dollar and Gold Miner ETF Analysis

UUP

As we can clearly see that the dollar is having a bear rally.  The moving averages and the trendline is acting as resistance.  The dollar opened up today and is testing the 20 day moving average which is the short term “magnet” for the stock.

The GDX has come back right where I thought it would come back to which was the previous resistance that is now its support.  Please see my archived analysis of GDX.  This teaches us not to chase after any positions as there will be second chances which is now.

Looking at the individual commodity stocks, it seems as though they are ready for another move.  Last night I sent out a free bulletin of two recommendations that have the possibility to make huge gains.

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