Profunds index and sector trading

[was Steve]

Pretty insane what has happened to miners in a few short weeks. I thought 80 on the XAU would hold as it was a great support and resistance level for many years, but it cut thru like butter today. Despite that I am pinching my nose and taking a big positon in Profunds precious metals fund at the close. Ideally the carnage ends within 5% of todays lows and I am able to sell when the index approaches 110.
Steve