Comments on: US Dollar Rally Could Spark a Correction in GLD GDX https://rightsideofthechart.com/us-dollar-rally-could-spark-a-correction-in-gld-gdx/ Stock Trading, Investing & Market Analysis Thu, 09 Mar 2017 02:20:01 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: ben711 https://rightsideofthechart.com/us-dollar-rally-could-spark-a-correction-in-gld-gdx/#comment-870 Wed, 10 Feb 2016 16:00:10 +0000 http://rightsideofthechart.com/?p=169726#comment-870 In reply to david k.

I personally unloaded 2/3rds of DUST on the GDX backtest of the downtrend line at 16.20

]]> By: rsotc https://rightsideofthechart.com/us-dollar-rally-could-spark-a-correction-in-gld-gdx/#comment-869 Wed, 10 Feb 2016 15:49:00 +0000 http://rightsideofthechart.com/?p=169726#comment-869 Ok David. I know there’s a lot of interest in the miners right now so I’ll do my best to communicate my thoughts and any significant developments that I notice, including where I plan to reduce some or all short exposure to the sector. Just a quick heads-up: GDX is currently backtesting the downtrend line of the Sept 2012 high as drawn on my daily/2-day period charts. While I’m currently leaning towards more downside to at least the 15.80ish pullback target that I recent mentioned (38.2% retracement + horizontal support), I did close the Feb puts that I mentioned to you taking on Monday in lieu of DUST as my last scale-in lot for a GDX short proxy. Might re-entry if we get a decent reaction off this downtrend line but using DUST or NUGT short instead of the Feb puts. Premiums too high now plus too much theta burn from here on into expiration next Friday.

]]> By: david k https://rightsideofthechart.com/us-dollar-rally-could-spark-a-correction-in-gld-gdx/#comment-867 Wed, 10 Feb 2016 15:18:52 +0000 http://rightsideofthechart.com/?p=169726#comment-867 Randy, looks like GDX is headed to the 15.9 area pretty fast. Please let us know.if you plan to unload some or all of your GDX short/ DUST long positions. Thx.

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