I am cooling my heels at the allergist’s office. I almost bid goodbye to this world a couple times due to Yellow Jacket stings and now am a bee venom therapy lifer.
So no charts for this update but I did want to update you that the GDX and GDXJ are indeed declining toward the potentials noted in the last update. GDX is filling a gap as are some notables like SLW. This is good.
What is even better is that the 30 year yield vs. the 5 year yield is positive today for the 2nd day in a row. At least it is resisting whatever is driving the miners down. That is probably the traditional scattering of the gold bugs AKA, emotion.
This (30 year / 5 year bounce) does not a trend make, but it sure doesn’t hurt. I decided to try the ultra risky DUST and JDST for hedging on yesterday’s gold stock rise and today have added SLW and PPP against these hedges. I am going to watch closely here in consideration of dropping the hedges.
Just an FYI update, especially noting the yield spread / precious metals disparity today.