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Almost cut my losses on the metal shorts…was planning to go long NUGT / JNUG at the break of $35.55 on GDX but never came. This breakout feels like it’s just another bull trap. Let’s see how we close.
DXY look ready to blast off. SPY nosedive?
We need a catalyst…none of the news this week produced a direction… tomorrow’s retail numbers could do it!
Anyone else tired of this chop? lol.
The catalyst is debt vs gdp going ballistic!
Long term 100% but short term deflation is still here I think.
Indeed. I think oil touches 40$ and coppe 2.60 before we deflate for real.
Dan – both gold and silver just broke out of bull flags…
Yes, I was going to shift long but miners have not taken out the May 8 high, silver does a head fake pretty much at every top so I’m staying short for now. Lets see what tomorrow brings.
Try taking a long position in the miners, then sitting, and doing nothing for 18 months.