Caution Warranted

As long as gold is below 1400, I continue to believe there will not be a sustained move in the miners. The rallies and dips will be worthy of trading.

Buy the dips, be patient. After a nice run up in the miners, a 50% retracement of recent gains is not out of the ordinary.


I'm long BIS in the meantime (IBB inverse). Yellen has given me a boost to the downside. Watching some set ups and patterns right now. If and when 250 breaks in IBB, I have targets on the charts where the fan lines meet the fib lines which meet the moving averages. 247, 243, 236. .. 236 is my ultimate target; it would end up being where a confluence of HSR, fib lines, fan lines and moving averages all line up together. (i.e. where the most liquidity will be).