2 Funds To Move On A Golden Opportunity
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– ETF Watchlist –
When it comes to which sector is poised to make the biggest move, you sometimes have to look at which sector has been consolidating the longest. Sectors that have just ebbed and flowed up and down while buyer and sellers look for an imbalance in prices.
Well, one sector we have been keeping our eyes on in the Smart Trades community has been everyone’s favorite shiny metal, gold.
SPDR Gold Shares (GLD) or VanEck Gold Miners ETF (GDX)
For those that have been paying attention to gold for the last several months, you know that there is a very important level at 2,000 standing in the way of much higher prices. With prices holding firmly just under that mark, now might be the time to turn your attention to the gold trade in the event this level is broken.
For those looking to capitalize on what could be a big move in gold prices, we have two options to take when making this trade. Your first is GLD. The second, GDX. Now, it doesn’t quite matter which one you choose in terms of the trade, however, there is one thing you want to look out for.
Volume. When choosing which sector ETF to trade, you’ll want to make sure there is substantial volume in order to not only get the kind of move you’re looking for, but so you’re also able to sell the contract should price surge.
Make sure to take a second before you put on any trade to gauge volume of the ETF just on a general basis, as well as checking the volume and open interest of the contracts you select to make this trade.
When you join my Smart Trades trading service today to see exactly how my students and I trade these types of scenarios! Smart Trades is where I teach my students how I trade options on some of the largest ETFs on the exchange. As you learn, you’ll get exclusive access to all my trades with notifications any time one is put on. Now, you can learn how many use this high-income skill to achieve financial freedom. Join today and as always…
