Monday, July 14, 2014

Closing Friday's DUST Long For Now

I'm not sure if this is just GDX accumulating weakness as we'd expect on a pullback, if so it's stronger than I'd expect at this time, or perhaps a gap fill, either way, DUST's gain today is decent and this is not a position I'm in love with it's the GDX/NUGT pullback long, so until the situation becomes more clear, I'm taking the DUST gains off the table.


DUSt almost 8% gains for a day.

GDX's 10 min chart still looks like a solid pullback should be on its way above and beyond today's.

GDXJ shows the same on a 15 min chart

However intraday, that's a lot of accumulation fast , GDXJ 1 min

The same is seen in NUGT (3x long GDX-goldd miners)

 DUST IS SEEING A LOT OF INTRADAY DISTRIBUTION, 2 MIN

As is JDST. I'd rather just take the gains and wait for the smoke to clear, maybe re-enter.

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