Despite how quickly sentiment has been to flip bearish on the precious metals and miners, I am still inclined to patiently wait for a new long entry as opposed to a short one.
Here was my note to 12631 members yesterday.
Also note the still-constructive gold miner ETF daily chart sideways consolidation, below. Let’s see if they resolve higher next week.
I am inclined to think the metals and miners are still simply flopping around sloppily sideways for now.
02:06:00pm EST on Thu, Jul 24, 2014
___________________________________________________
I agree, waiting for that long by far shows more potential value than trying to short.