i just bought back the PCX long that i sold just before the open yesterday, although a smaller position size this time. keep in mind that i am expecting a pullback of the broad market from at or near current levels (we closed right about where i made that statement yesterday) and i also have a decent amount of short hedges against my remaining longs, actually bringing me net short. be careful with chasing long-side breakouts here as the market is pretty extended in the short-term. i’ll try to put up a few short ideas today but i still like GDX on some of the miners that i posted recently that have rallied hard up to key resistance areas. stops on this lot of PCX will be very tight, just a few cents below entry, which was the pullback to T1 this morning.
