Quote Originally Posted by TraderD View Post
Hi Billy,

How does a GDX MF climb from a bottom of -1.0% to -0.6% at the close yesterday bode with a gap down below QS2 at the open today? Would you say it ain't over till the fat lady starts to sing (at -1.45%)?

Trader D
It is pretty difficult to keep a clear head when there is a conflict between traders who expect a bounce - and trade a bounce during the day - and overnight news from abroad. The easiest is to wait for a buy signal. If it is a weak buy signal, I'll again buy leaps using "stop loss" money. If it is a strong buy, I'll buy GDX without leverage. However, I still expect a bounce for US markets. It is not like Lehman: I believe that funds have been prepared/protected against a potential market/Euro collapse and they know that the FED is back-stopping everything. I will change my mind when I see -400 points on the Dow in one day.


Pascal