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After Yesterday's Decline of 3.54%, Market Vectors - Gold Miners ETF Offers Investors Better Value

By David Diaz

Market Vectors - Gold Miners ETF (AMEX:GDX) traded in a range yesterday that spanned from a low of $29.70 to a high of $30.52. Yesterday, the shares fell 3.5%, which took the trading range below the 3-day low of $30.64 on volume of 32.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Market Vectors - Gold Miners ETF on June 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.72. Since that recommendation, shares of Market Vectors - Gold Miners ETF have risen 24.6%. We continue to monitor GDX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Market Vectors - Gold Miners ETF has traded in a range of $12.40 to $31.79 and is now at $29.75, 140% above that low. Over the past week, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 2.2%.

Keywords: rebounders amex:gdx market vectors - gold miners etf

Ticker(s): GDX