Gold Approaches Bottom - Nexus Gold Corp. (NXXGF)
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Good Wednesday morning, friends and fellow traders. As promised, this morning we've got a new trading idea for you... something we think you'll be thankful for headed into the Thanksgiving holiday.
We've already mentioned a couple of times this week how gold prices (down 12% since July's peak) look primed for a bounceback sooner than later. The question was and still is, what's the best way for a stock trader to play it? Sure, the SPDR Gold Trust ETF (GLD) could do the trick, but there are higher-octane ways to jump into any bounce in gold prices. For reasons too complex to get into today, gold miners are often a more potent way to ride a gold rally.
Not just any gold miner though. For you small cap minerals and resources veterans, you'll know the most explosive moves often come from a name the market's been overlooking, but shouldn't have been overlooking.