DUST Trade Follow Up

The short term DUST (3x short gold miners) that was entered yesterday after closing out the 3x long miners (NUGT ) for a gain, is doing what we suspected, GDX/NUGT is pulling back, likely to fill yesterday's gap and while those are the positions I love, for the very short term rather than sit and watch the temporary drawdown, I decided to go ahead and turn a few extra % on the move.

Here's DUST, it's important for broad market analysis to remember that Gold has been moving opposite the market recently, pretty good evidence that gold is seen by more and more traders as a flight to safety trade and/or a move because of inflation expectations in the next 6 months.

In any case, Gold and gold miners move almost exactly the same so a pullback in GLD and GDX means a bounce in the market (and DUST) which is what we already expect intraday. I'm just pointing this out because you can get a lot of information out of one asset like gold or GDX that helps your analysis of other assets.

 DUST is starting to move, note the REVERSAL PROCESS of a rounding bottom (typical) and not just a "V" straight up. 

DUST is seeing a little resistance at what would be its stage 2 mark up in this mini cycle, the price action of yesterday and today would be stage 1 base in the mini cycle so we want to be exiting somewhere around stage 3 distribution, again the point here is that these 4 trends in a cycle appear on all charts whether a weekly, daily, hourly or 5 min like this, this is the nature of the cycle of a trend.

3C is leading positive on the 1 min so DUST should put in more gains than the nearly +5% since yesterday, I have alerts set all the way up to $47.50.