Market Vectors Junior Gold Miners (NYSEArca: GDXJ) is an unleveraged ETF for small-cap stocks.
Gold miners are trying to recover after several years of horrible performance. For example, GDX posted negative returns in 2011 and 2012. Also, the fund is still down more than 40% year to date despite the bounce since late June.
Technical analysts are watching a reverse head-and-shoulders formation in GDX. It’s a bullish reversal pattern.
Market Vectors Gold Miners
Full disclosure: Tom Lydon’s clients own NUGT.