Well, in NFTRH 838 I noted that my hold on the DUST miner hedge was probably tenuous. But today, the USD is proving that the holiday week moves were indeed shenanigans of some kind. The Friday breakdown is at least for a day, reversed.
While the Gold/Silver ratio continues to simply lurk, not yet moving impulsively one way or another.
While GDX breaks downward from a small bear flag (as it turns out). So last week’s action here was holiday week, low volume b/s as well.
When I look at the chart of DUST I see a look that I’d buy, were I bottom feeding a stock. So, I am going to hang on to these hedge positions until/unless the miners make a firm move to break the correction. As it is, GDX above looks like it wants to fill the Nov. 18th gap at 36.18. It may also test the SMA 200 and the black channel break line again. If it is a normal ‘C’ corrective leg down, it can test the 32-34 area as well, as previously noted.
I originally took the DUST positions resolving not to get shaken out too soon, but the bullish aspects for the precious metals noted in #838 illustrate why it is so hard sometimes. I contemplated it, but kept the hedges this time. It’s a tough racket, if you think too much (which I sometimes catch myself doing).
you’re knocking it out of the federal park (system!) lol well done…..but I remain very skeptical of DUST! Whatever
Well, the thing missed going foul by inches! I am skeptical of DUST and all other leveraged vehicles beyond short-term holds. I am day to day, week to week with it.
Yes, well done Gary. By somewhat mirroring your moves with DUST these last few weeks you’ve kept me in the green. My bottom line (and my sanity!) thanks you!
Thanks Tom. As you know, it can and does go the other way too. Hedging is by definition, unsatisfying. But preferable to me than selling and buying every normal correction.