It’s not the biggest news in the world, and the macro is potentially turning adversarial to gold stocks. But in the event that the sector is to get back on the course of finding a bottom or a tradeable low, it helps to have the gap filled on GDX.
I am going to think about whether to take the profit on the hedges (DUST). Profit is profit, and bear positioning can be reestablished or long positioning reduced. That’s my personal question. For our purposes here, and strictly going by the TA, GDX is at support and filling a gap.
It remains in a downtrend until, at the very least, it breaks above the 50 day average.
[edit] Welp, profit is profit. I de-hedged for now, but am also very light on gold stocks.
