Long $NEM

Many traders have their eyes focused on spot gold breaking out. With gold miners near their lows, they are compelling trades. Two of the largest holdings within the gold mining ETF GDX is NEM and $GOLD.

YTD performance:
GDX +5.6%
NEM -16.7%
GOLD +0.29%

During gold bull markets, NEM outperforms GDX and GOLD underperforms. For traders looking to get into the gold trade, NEM is currently discounted to the ETF—this provides an interesting opportunity to get in if you missed the original breakout move.

Comentarios:

NEM leading the majors today as expected.