Junior Gold Miners (GDXJ) 2013 performance was -61% compared to Gold Miners (GDX) -54% & Gold (IAU) -29%. So GDXJ is clearly the hated ETF plunging twice the percentage of Gold.
Today (GDXJ) completed a 1 month consolidation rectangle box by breaking over 31.25 barrier with a gap. If this is the bottom, then initial target is $33.50. A gap fill is also possible.
Want a 3X Bullish leveraged ETF for Junior Miners? Go for (JNUG) !
After Gold touched a new low yesterday at least in (GLD) Etf, i thought of looking at which gold stocks are not registering new lows and are outperforming the yellow metal. I filtered gold stocks according to top 5 highest market cap and 2 stock stood out: Barrick Gold (ABX) & Franco Nevada (FNV)
Check out this interesting vid on gold miners