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Gold Miners ETF Could Dazzle Shareholders

by Sam Collins 08/19/09

Market Vectors Gold Miners ETF (GDX) -- This exchange-traded fund (ETF) attempts to replicate as closely as possible the price and yield performance of the Amex Gold Miners Index.

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GDX is in a bull market with a long-term support line at $35 and the 200-day moving average at $34.

This seems to be an attractive entry point for this ETF, which formed a very bullish cup-and-handle formation and, in March, a gold cross.

The target for this investment is $50 to $55. Place a stop-loss at $33.

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