DUST 1 minute pre-market Jan 21st
The DUST (3x short gold miners) quick bounce/hedging trade idea posted yesterday is currently indicated to gap slightly below yesterday’s LOD (low of day). With gold trading higher overnight (largely as a result of the $USD trading lower), the miners (GDX) have been indicated to gap higher throughout the pre-market session although those gains have started to fade since about 8:30am ET.
With DUST currently trading right around the suggested stop (a few cents below yesterday’s LOD of 11.21), my plan is to pull my stop and re-enter it after the first 30 – 60 minutes of trading. The shaded areas on the 1-minute chart below show the after-hours & pre-market trades in DUST. As always, employ stop criteria that are commensurate with your own trading style & risk tolerance.