Wednesday, April 6, 2016

Apr 6 - Stopped out of NUGT short, equities bouncing

Stopped out of NUGT short for -5% on the position as GDX started to creep above the trendline and GLD is looking like it doesn't want to go away yet and may be breaking up and out of its wedge.  I am a bit surprised as the bullish inflows into GLD were so extreme recently so perhaps what would keep the storyline consistent is another spike up before things move back down again.

Still waiting for lower trendline to break but it isn't happening now
 GLD consolidating
 Equity bears continue to get teased but we might be forming a VIX bottom here

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