DUST - gap fill premarket

Long

Direxion Daily Gold Miners Index Bear 2X Shares (AMEX:DUST)

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AMEX:DUST Direxion Daily Gold Miners Index Bear 2X Shares

DUST is filling a gap from last Monday's pop on the news that Buffet purchased GOLD. This is roughly the .50 FIB retracement level. I think this is a head fake and that this weakness should be bought. GDX is not oversold yet and in my opinion still has a little more correcting to do.

Commentaire:

Buffet bounce for miners has brought DUST through the golden pocket which looked like it was going to hold this morning. Gold shorts feeling a little pain this morning. Let's see if the bulls can keep this going.

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