This post was just published on ZYX Short Change Alert.
According to algorithms at The Arora Report, the move in junior gold miner ETF GDXJ over the last four days from $36.80 to over $39 is almost entirely due to short covering. Depending upon the Fed statement at 2:00 pm ET, and conference call at 2:30, there is potential for a further short squeeze. For this reason, it is time to take profits on another 10% tranche prior to 2:00 pm in the zone of $38.31 to $39.17. GDXJ is trading at $39.01 as of this writing. Consider continuing to hold the remaining.
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