GDX and 20DMF

The unwinding of the long equities positions against the shorts gold miners continues today.
I believe that this is the main theme behind the gold miners' bounce.
I would not short the sector under such circumstances, except if a negative divergence appears between the MF and the price.

We have turned off the day-trading message that could have shown at the open, because of this very unusual pair trade activity.

I am keeping the GDX long position for now, together with some newly opened short, notably in GRMN.



Pascal

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