Thursday, August 15, 2013

Slowly moving to the downside...

Today's downside break does not have the volume and fear in it that I would like to see.  Could be nothing but it's something I'm paying attention.  However, for safety's sake, I cut my leverage down a 1/3 and covered some /ES @ 1660 (from 1704.5). I also unloaded 1/2 of my Sept 26 calls in GDX @ 3.20. The next few days will let us know if this decline is for real or not.

edit:  I must have been looking at something different but I take back my earlier comment about volume. The volume up until this point (8am-10am) is the highest it's been in weeks

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