No time to waste. Gold has fallen more than $12 from its early morning highs, likely proving my models are right on the money.
Keep working the orders from this morning’s issue and if you are not filled on any part of the orders, do not chase the market. I will update accordingly.
However, right now I recommend a bearish position on miners. As I have said all along, this first rally up in the mining sector will largely be retraced, with the potential that many mining stocks will hit new lows.
Therefore …
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For All Members: Using 3 percent of your trading funds, buy Direxion Daily Gold Miners Bear 3X ETF, symbol DUST, at the market. Place a good-till-cancelled protective sell stop at $2.63. |
Hold all other positions and related stops and stay tuned.
Best wishes, as always …
Larry
