Direxion Daily Gold Miners Be (DUST)

[Sgreg]

I had a nice day. As posted earlier I sold as I anticipated GDX/miner "dip buyers"

I am on the sidelines right now but not done here yet at all. Miners are bloated right now and pumped up. The promise of gold going well over $1300 is all over the place. It had better happen, and I'm not saying it can't/won't happen, but if it doesn't and I'd estimate within one month then miners are going to be sold and heavily.

GDX had 5 gaps ups in the daily chart. Alright the top one filled, now it has 4 open gaps. If gold doesn't do what has been promised it will do then a few more of those gaps will be filling I would bet.

I know about the China "fix". I don't trust the Chinese, most of the world doesn't and besides everything they touch seems to crash. Anyway I'm not a dummy so I know well enough to be cautious but I also know well enough to be suspicious about the promises of gold. I guess I am waiting and seeing.

I get the whole story of miners this year and all of the how and why they went up. In my view some is sustainable and some isn't if gold doesn't hit what has been promised. In the meantime I'll grab low hanging fruit as I have done as it becomes available. Good luck to you and best wishes.