Jeff Bishop of TopStockPicks.com says that gold miners have made a nice run off recent lows nut they have gotten extended and are facing a lot of headwinds in the next week, including lower volatility and fear in the market and pressure from the dollar, which is starting to bottom out. He is currently shorting the gold miners, using DUST — the Direxion Daily Gold Miners Bear 3X ETF — and is looking for a profit of about 6 percent in the coming week. Bishop made it clear that he remains bullish on gold long-term — for the next six months or more — but said that short-term traders often need to trade against their long-term sentiments.

The Raging Bull podcast features experts from the site talking with Raging Bull editor Chuck Jaffe on his show, “Money Life with Chuck Jaffe.” You can learn more about Chuck’s daily hour of market and personal-finance chat at MoneyLifeShow.com; you can subscribe to the Raging Bull podcast via iTunes and other podcast providers.

Be a Better Stock Trader, Starting Today

Get the expert insights, tips and strategies you need to optimize your trading skills and profiles
START NOW