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Gold Miners Pullback



February 14, 2011 – Comments (0)

This afternoon the Market Vectors Gold Miners ETF(NYSE:GDX) has pulled back from its morning high. The GDX is still trading in positive territory this afternoon trading higher by 0.58 cents to $56.31 a share. Scalp traders can watch for a short term intra-day bounce around the $55.96 area. 

Other leading gold mining stocks that are trading higher today are Randgold Resources Ltd.(NASDAQ:GOLD), Yamana Gold Inc.(NYSE:AUY), and Goldcorp Inc.(NYSE:GG). Traders can watch for these leading stocks to bounce higher when the GDX bounces as well. The stocks in this  sector trade very close together or in sympathy with each other.

Nicholas Santiago

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