Well we lost 16 cents on our latest long position in GDX. That’s less than 1% so no serious damage. Almost 3% if one was trading a triple fund. But still nothing serious.
At this point pretty much all the negative news is out.
So I’ll try again once gold gives me another potential setup, either a reversal candle, or a swing low. Sooner or later one of these setups will turn into the yearly cycle low and we’ll get a nice rally. For now I’m back on the sidelines and waiting.
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