Friday, May 23, 2014

5/24/14 Update

The Fidelity Gold Miners Fund (symbol: FSAGX) closed down .01 points or 0.05% to $20.67 this week.

Weekly support and resistance are $20.59 and $20.85 (50 day moving average).

Trading below 50 and 200 day moving averages.

Open gap down up to $21.96.

Open gap up down to $18.72.

I am in at $20.52 since 4/1/14.

Currently ranked #1 in my model.

My forecast/plan/trend for gold mining stocks is to hold until ranking falls below #3 and/or I have held it for 90 days or more.

Prior I bought it on 12/3/13 at $17.31 and sold it on 3/14/14 at $23.96 for a 38.42% return.

ETF Equivalent is the Market Vectors Gold Miners (symbol: GDX).