GDX (Gold Miners) / NUGT Update

I was just going over the GDX charts and confirming with NUGT and DUST, while I want to be a little cautious about the timing of committing to new positions until the dust clears a little, I see absolutely no reason to abandon GDX calls and NUGT longs, in fact taken by themselves, I'd be keen to add to them here or start new positions if I didn't already have one (or a couple as it were).

 The shorter term charts aren't that important in the analysis, they are more just to see what the tone of early trade looks like after last night's open, 2 min GDX leading positive.

3 min GDX leading positive and a nice bottom-like range.

5 min chart leading positive.

This is where the case is really held together for me in staying long gold miners.

 GDX 15 min ;leading positive divergence. This is of sufficient size that I'd say there has been significant investment in accumulating GDX and I doubt very much those shares are going to be sold at anything less than a profit.

In this market to have a 30 min positive is sort of rare, there are only a handful of longs that reach out this far and most of those are pulling back, so in conclusion I have no problem holding GDX calls or NUGT longs, if a few small signals came together, I'd likely post a GDX Trade, even though last week I said I would not be putting out any more GDX long calls as if you don't like the charts above by now, I don't see what would cause you to like them in the future.