Summary
Phil Anderson issues a brief portfolio management update following the post-US-election USD rally, which has pressured gold and gold mining stocks. The VanEck Gold Miners ETF (GDX) fell through its stop loss level of $36 per share, triggering an exit from that position in the Mex Pete Model Portfolio.
Key Claims
- Post-election USD strength has weighed on precious metals, including gold — confidence: high
- Falling gold prices have dragged gold mining stocks lower — confidence: high
- GDX closed below $36 per share, triggering the pre-set stop loss — confidence: high
- Subscribers are instructed to exit the GDX position — confidence: high
Mex Pete References
The Mex Pete Model Portfolio is referenced as the vehicle holding the GDX position. No ascending triangle pattern details or specific Mex Pete setup descriptions are provided in this email.
Stock Picks / Signals
- GDX (VanEck Gold Miners ETF) — EXIT signal; stop loss triggered on close below $36.00 per share
Predictions / Forecasts
None
Notable Quotes
“That stop triggered yesterday when GDX closed below $36 per share. So, make sure that you have exited that position.”