Exchange traded funds holdings shares of gold miners, both large-caps and juniors, have received ample fanfare this year and deservedly so.
Year-to-date, the Market Vectors Gold Miners ETF (NYSArca: GDX) is up 20%, a gain that looks paltry compared to the better than 32% return posted by the Market Vectors Junior Gold Miners ETF (NYSEArca: GDXJ). Both ETFs rank among the 10 best non-leveraged ETFs in 2014. [Good News for Mining ETFs]
Buoyed by the resurgence of their gold mining counterparts, silver mining ETFs have gotten in on the act as well, a not affirmed by the fact that the PureFunds ISE Junior Silver Small Cap Miners/Explorers ETF (NYSEArca: SILJ) is this year’s best performing non-leveraged ETF with a gain of nearly 43%. The Global X Silvers Miners ETF (NYSEArca: SIL) is no slouch, having returned more than 26%. [Silver and its Miners Soar]
On a technical basis, SIL and SILJ demand, closer and immediate attention.
“Pride of opinion has destroyed more careers than probably anything else. Lets face it, bias can be cancer. This group has been torture to those trying to pick bottoms over last year or so, but now looks to want to at least bounce,” according to Captain John Charts.