Updating Now; Not Waiting For Tomorrow
If this is a test of the mid-November up-thrust, things may happen quickly from here on out; with that in mind, it’s important to get it all (technical data) out in the open.
The gold (GLD) chart is similar to the GDX that was discussed in the prior update.
It could be a test of the bull trap from last November.
If that’s indeed the case, and price action reverses lower from here, the downdraft could be more than significant.
Instead of lightening-up on the DUST-21-01 position as stated, that position was modified.
The DUST-21-01 was closed out. Then, a position in JDST opened immediately; currently labeled as JDST-22-01, with nearly the same position size.
The gold market appears to be thinning out.
We want to pick the weakest part of the sector for downside potential (not advice, not a recommendation).
The Junior Miners. GDXJ, have been lagging the Seniors GDX, for some time.
Today appeared to be a good opportunity, with everything at extremes, to make the change (not advice, not a recommendation).
Charts by StockCharts
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