Direxion Daily Gold Miners Be (DUST)

[Sgreg]

Yes my friend I think so. For the first time in 8 years I am bearish on the stock market.

GDX and GDXJ I believe are in impulse wave 5 and a correction wave is coming. As a trade I have entered JDST at 2.67 today. I can not tell however if GDXJ is at the start or end of wave 5. Many times with the elliot wave is that you don't know for sure until after the fact.

Other then a trade here or there I keep my money sitting for the most part. I actually do believe deflation is coming. I believe starting in June is when pain starts to come to the market. I am setup similar to you. Only difference is that I don't own gold. I'd actually take silver over gold but deflation is knocking on the door I believe so what I actually plan to do is hang out in cash except for the occasional low hanging fruit trade. Once June arrives I think everything will be setup and from there I might take on some risk and short the market. All sectors and any sectors. It doesn't matter. As in 2008 if deflation comes then all sectors (including mining stocks) get pounded.

Miners will follow the market and trade with it. Actual gold and silver are different animals then miners. If deflation comes miners (along with everything else) will get pounded. If deflation does not come then miners will go higher after they go through a correction wave. They will begin a new upward impulse wave. The thing to decide is if deflation is coming or not. I believe it is. US data had been looking better in Feb and Mar but more recent data is not looking very good. These are my thoughts.