DZZ to be the next ERY?

Many members recently entered the ERY trade and it wasn't the easiest trade to hold, although as I mentioned a week or two back, your stops should be as wide as you an afford to make them with this kind of market volatility and your risk management should be your first priority. With wider stops, the risk management becomes a lot easier.

In any case, ERY gave all the signals and today it did what the underlying action has been threatening.

IF my Op-Ex theory plays out, then DZZ could be next week's big mover.

Here are the charts....

 GLD posts a new high this a.m., but 3C refuses to confirm it, it seems likely this is not accumulation, but merely a retail flight to safety bid.

 The 2 min chart shows something worse, distribution in to the new highs.

 The key timeframe, 15 min 3C also shows a distribution mode in play
(selling in to higher prices)

 And the daily is suggesting trouble, this may be the kind of trouble that produces a once in a year buying opportunity on a pullback to the 150-day m.a.

 Here's DZZ, 2x leveraged Short on Gold. The hourly chart has been positive for some time.

 The 30 min chart has also been positive for a length of time.

The 10 min hart is also starting to get that sharp look to it. I'll keep following GLD/DZZ, I think it may be to early now to have a large position, but I think we are getting close. Silver is coming up...