While the two charts below do not technically show a correction that is over, I have released the remaining hedges I had (via DUST) and am planning to use cash levels for any remaining risk management.  This is just an FYI for anyone who is interested and I continue to suggest people go with the style they are most comfortable with, whether it be accumulate slowly on corrections, regulate cash levels, hedging or simply holding positions.

My main reason for going to a cash management system is that while the patterns below are not broken to the upside yet, the time element – if the symmetry of the weekly chart means anything – is just about up.  The correction from the top has retraced 50% of the June rally on GDXJ and I do not want to get too cute.  I’ll do some profit taking if need be, but hedging does not seem to be a great risk vs. reward enhancer at this time, especially with silver having gotten all the excitement beaten out of it.