I took a 1/2 short position in ULTA.
ULTA came out in an intermediate scanning that I performed today.
This scanning is still showing many gold miners as potential short candidates, but I do not believe that it is safe to short gold miners. Most funds are hedging their long positions with shorts on the miners. Once they sell their longs, they'll need to also cover their shorts. This is what happened yesterday and continues today.
ULTA has been weak for many days. I'll exit the trade if we break above 126.
Pascal
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