On Friday, I did this premium post in which I suggested shorting miners (specifically GDXJ) might be a good play. This was a beautiful gap-fill, and I’m out of the trade.
The move is, I suppose, driven by the notion that the Bank Crisis Is Like Totally Over, so gold is falling.
What’s going to be interesting is, yep, another gap – – that is to say, can /GC respect the gap I’ve highlighted with that horizontal line at 1931.70. If it can, maybe this sell-off can be a brief one and banks will show their ugly heads again.
