It is affecting our DUST, JDST trades. The miners doesn't want to fall. GDX is just dancing on the upper instead of breaking into it.
The is decreasing so it means to me there are less and less new buyers from day to day but the shareholders are not selling their shares.
I just want to warn you that this sector should be watched carefully. Someone posted a few days ago that miners are stretched too much above the 200 . So it won't rally that much with gold . This is very true.
Also it seems doesn't want to fall too much maybe just sideway consolidating. If gold is falling more and GDX is not moving just going sideways WE HAVE TO GET RID OF OUR DUST AND JDST EVEN WITH LOSS.
It's just a possibilty but we have to be ready for this also.
MAybe we open with a huge gap down at 23.50 tomorrow and everything is cool. Maybe big players are selling their shares to the big guys. They dont want to sell in panic.
They postpone the panic by tomorrow....
I think they will slam it tomorrow before the Brexit vote. And big players might be positioning in miner longs at the panic tomorrow or on Friday.
Gold also looks wants to break down to 1240 tonight or early tomorrow.
For all of us that followed the initial short idea at 1240 and are currently stuck with DUST or JDST...
Would you recommend to keep it until tomorrow or take the loss today?
Gold is currently at around 1261. JDST should be at least at 13 dollars, but its currently at 10.90 - GDX and GDXJ are either being manipulated and all the retail traders are going long and the banks are shorting it and they will drop the bomb tomorrow.... or there is something shady really going on that might spike them tomorrow.. leaving all of us shorts with nothing in our banks.
Thanks again for all your help!