Joe Duffy pointed us to a strong move up in gold recently and GDX has been his tool to take advantage of it. (check out his update here) It still has room to the upside but there is a potential trap at the end of the week so any trade should have a hard review by Thursday before the Fed speak at Jackson Hole gets read through and parsed like market tea leaves. Any whiff of a hike in September could dampen the run higher.

There is another ticker we have been following that played out as expected and is ready for its next move. Here are the charts and the trades to consider.

The Sept 18 105 calls are just under $5 this morning before the open. They are a solid play with the caveat to review them on Weds or Thurs and exit before Friday.

The other ticker we has looked at is META. It failed the crossover a week or so ago and is finding some support as it consolidates.

We are going to watch it open this morning and look for some confirmation that it will take another shot at recovering this week. If it does, we’ll update this afternoon and look for the best trade.

Keep learning and trade wisely,

John Boyer

Editor

Market Wealth Daily

P.S–Joe Duffy’s Key Point Market Alerts have been a great resource for his readers and has helped them find some great winners. Last week was a windfall for them. And he let’s you check it out for just a buck. Use this link.