I guess it came down to a ‘who am I to argue with success?’ kind of question. There was yet another profitable round trip shorting the miners staring me in the face and so I took the DUST profit. All of it.
But I still think the next few weeks may be rocky so risk is going to be managed in the way of what I just did with Kirkland Lake; i.e. taking profits and limiting losses. Also, balancing of portfolios with the likes of the pro-USD and broader market positions.
Yesterday worked perfectly; dumb money bought gold stocks because the missile freak in North Korea was at it again and that served up a short entry. But today with GDX nestled again to the 50 day moving average, it does not feel like a sensible place to be short anymore. We’ll see; as I said risk can be managed in other ways.
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