Equities aside, I am still sitting on my DUST puts from last week. They took quite the hit and were down about 35% at one point at miners continuing dipping for 2 days after my entry. We have a potential reversal at hand but I am willing to let this one bounce around.
Fat Pitch has a very good review of gold's situation and presents a promising case for a bounce here.
Here are a couple charts that I found notable that shows the contrarian angle to speculators has picked bottoms quite well.
After some froth DUST finally made a solid down move Friday. Whether we make a sustained bounce in GLD is unclear but so far this looks promising. If this was a top, I am targeting a fairly large retrace around the low 20's in DUST.
GLD first area of resistance around 110 I will be watching carefully. It is possible we have a snap back rally that cracks through resistance. Also possible is for the bounce to just form another consolidation zone that is met with another move down to stronger support around 100.
Long wick candle on the weekly south of the lower BB. It is a very strong signal and could lead to a decent bounce this week. What happens, if we get a bounce, by the second or third week is uncertain.