8:25 am PST.

The GDXJ backtest is at about $33.

UUP might also backtest its broken trendline.

8:09 It looks like GDX is going for the backtest. It will be interesting to see if it can hold. The dollar might be on its ways to new highs.

7:51 I am stopped out everything in trading account. The interesting thing is that my other account that I do not trade so much is doing better where I still own JNUG. Sometimes its better not to trade so much. Still watching PAAS.

6:53 am PST. I am thinking this is a buyable low here this morning and GDX will go to 23.50 by the end of today. It might take all day to travel there. I have 23.50 call options expiring today, which I thought I was going to pretty much leave for dead at the open. lol. It is coming back to life.

4:52 am PST. After yesterday’s significant rally, /GC futures are down this morning about 4.80 while the dollar is recouping some of yesterday’s loses. It would be natural to see some consolidation as traders take profits. If /gc is still in a bear market, it would be natural to see a reversal to the downside. I will watch to see if I must exit all my mining stocks and options today.

5:01 am.

I also want to watch for signs of a bottom in UNG.

1:19 pm PST. XME is going to gap up tomorrow morning. I bought a little.

1:09 pm PST.

The miners rallied right up until the final few minutes of the close when the day traders started taking profits. I exited all of FCX stocks before the close. I still have the options on them. I was looking for a green close so I exited my stocks.

GLD looks bullish tomorrow. I added onto my PAAS position and have GDX and GLD calls for tomorrow. The dollar etf, UUP, looks like it is almost done with this corrective wave 4, but it is not quite there yet. I still like VALE. I was looking for XLF to tag $23 where I wanted to buy FAS, but both the Dow and the financials rallied nicely into the close and the correction might already be done.

12:38 pm PST. Today GDX too broke out of the downtrend channel from August. It will backtest the upper trendline after it completes this first major wave 1 up. Here’s my count.

12:01 pm. PST. Nat gas looks like it may have bottomed today. I might buy some UGAZ. There was 14 million shares of DGAZ block traded today at 4.26. MM’s exiting out of nat gas short at the 200 sma. I am a bull on nat gas.

11:28 Bought GLD and GDX calls expiring next week and GDX calls expiring tomorrow.

GLD target at least $113. Possibly $113.25

11:13 am PST. Financials and the indices sold off today but I think this might just be a complex abc-x-abc correction wave iv. XLF could go to $23 first and then make a new high at $24. Will watch.

10:16 am. Bought calls on FCX, expiring next week and the week after.

10:03 am. Closing out half JNUG +.13. Adding on FCX. Adding VALE.

9:47am PST.