Yes, by mid-Sept I admittedly was in the camp that a significant bottom could have been carved in. I positioned myself for the pop and we certainly got it. But the panic buying, gappy nature of the move is concerning…right up into major league resistance on the weekly and monthly charts. Now we see paid service folks making bold calls for the bottom being in. Now we have theories on QE4??? This is how tops get made in the SM and PM space. What’s most compelling to me however are the charts like this one from DUST. This doesn’t look at all like a bottom for the miners and in fact looks like a setup for a lower low now. We have to be nimble here and continue to position ourselves for the best odds and that means straying from the highly emotional masses. Ive built a tidy DUST/JDST position over the past 2 days and I continue to feel that’s the best risk/reward play right now.

DUST