Replies to post #816 on Justa's Dive Bar

[Ace Hanlon]

Regardless I am playing GDX cautiously here.

Not selling but not buying more either.

I hope you are right about an imminent correction since I would like to add substantially to my current modest position.

[chainik]

No more talk about rate cuts; futures are pricing just one very late this year (Nov-Dec).

The ramp immediately after the Fed meeting started from SPX 1410 and was "justified" by imminent cuts coming soon; since none are in sight, it would seem logical to return back to 1410 :)

[chainik]

Very bullish COT. Commercials are longer NDX and SPX (including minis) by about $4 billions. They are net LONG now, which is extremely unusual.

Based on COT alone, the market is still a strong buy.

[chainik]

O Justa, where art thou? Still expecting lower prices or resigned to the bullish mob?