CDNX Charts of Excitement
Contributed Opinion

1. Stewart Thomson: I, or members of my immediate household or family, own securities of: GDX.  I determined which companies would be included in this article based on my research and understanding of the sector.
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It's an interesting time for markets, with the dollar index arriving at key support of 100 (par), gold in the throes of its first decent pullback since back in 2023, the GDX ETF recoiling from round number $50 resistance, and. . . 

The CDNX junior stocks index perhaps looks the most interesting of them all!

First, here's a look at the USDX (dollar index): 

A lot of investors note the "break" of the support zone at 100, but support is generally a zone, not a pinpoint.

A drop into a big support zone like USDX 100 can end above, at, or slightly below 100, but a rally of some size is normal once price stabilization occurs.

I suggested that gold would likely be trading around $3200-$3500 when the dollar hit par, and that's what has transpired. Now, gold is correcting as expected, and the dollar is rallying.

Here's a look at gold: 

Three zones of interest for buyers are $3150, $3050, and $2950. I'm a buyer of all three if the price goes there.

As far as the senior miners go (as showcased by the GDX ETF), I like the $2950 area for potential investor buying, and gamblers could take a shot at buying them at gold $3150 and $3050.

Here's a look at GDX on a daily line chart: 

Line charts smooth out a lot of noise. Gamblers could buy at the $46 area support zone.

Investors may want to join me and wait to see if gold trades at $2950. We'll take a good look at the GDX and GDXJ charts at that point. GDX could be trading in the $44-$39 zone of substantial support then, and if so it would be a spectacular time to buy!

Here's the CDNX week chart:

While the larger miners need a rest, the "raw" CDNX juniors index looks like racehorse that is about to be let out of a massive bull era starting gate!

Here's a look at a serious CDNX "hot shot" stock, Millennial Potash Corp. (MLP:TSXV; MLPNF:OTCQB): 

Eager junior players may want to do a gamble buy on this one, and use an optional mental stop at about 85 cents for all or part of the position.

Mental stops are stop losses that an investor doesn't actually enter as market orders. They watch the market and enter a sell order if the stop price is hit. This prevents them from being hit on a relatively low volume trade . . .  only to see the price shoot right back up again after being stopped out!

Here's a look at the weekly chart for Benz Mining (BZ:TSXV), which I call a "must own" play for junior mine stock gamblers: 

The base pattern is so aesthetic that it looks like it was sculpted by Michelangelo! 

The time to take a nap is now, for gold bullion and senior mine stock investors. The time put some space helmets on is also now, for enthusiastic junior mine stock investors around the world!

Special Offer for Streetwise Readers: Please send me an Email to [email protected] and I'll send you my free "CDNX Hot Shots: Tactics For Champions" report. I highlight the key buy and sell zones for eight exciting CDNX miners showing bullish breakout action on the charts. Solid tactics for eager investors are included in this report!

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