Interested in gold and silver? Tradestops makes it easy to follow a large number of precious metals and mining stocks.
Tradestops Watch Portfolios are perfect for following specific sectors, industries, or special situations in the stock market. Here’s an easy way to set up a couple of Watch Portfolios for gold and silver stocks.
Once this has been created, we can then add positions. For this Watch Portfolio, let’s add the ETFs for gold (GLD), silver (SLV), platinum (PPLT), the gold miners (GDX), and the junior gold miners (GDXJ).
GLD, PPLT, and SLV track the physical metal itself. The other two positions, GDX and GDXJ, track individual mining stocks. We can now set up separate Watch Portfolios for these ETFs.
Later, we’ll do the same thing for GDXJ.
Next, we’ll add the top 10 holdings of GDX into our new Watch Portfolio. These can be found on the website of the ETF sponsor which is Van Eck. Be sure to notice that one of the holdings for GDX is not a US company. Don’t worry, TradeStops can also track Canadian, Australian, UK, and German stocks as well.
A quick glance at these stocks can help you understand why GDX is in the SSI Red Zone. Six of the top ten holdings in GDX are also in the SSI Red Zone.
Here are the top ten holdings of GDXJ. You’ll notice they’re in a little better shape than the holdings of GDX. There are also noticeably more non-US companies that make up the top ten holdings.
Don’t forget to add the SSI Alerts to all of these positions so that you will be notified when changes in the condition of the stocks occur.
With just a few clicks, it’s easy to set up these kinds of Watch Portfolios. We’ll be talking more about these types of portfolios in the webinar planned for tomorrow at 1 PM ET. Here’s a link to register for the webinar:
Education Director, TradeStops