11:27 am PST. I saw a 207,140 share block trade on another dollar etf, USDU, at 27.35 a littler earlier today. That was almost the entire volume so far today on USDU. It looks like a buy print as we are now above it. UUP is also looking as though it might close above the 4/8 ema again for the second day in a row. The dollar certainly is starting to look more bullish, which could be bearish for gold.

However, I am still going to stay long my mining stocks. I am no longer day trading them. I went long February 2nd before the breakout in a number of different mining stocks and I do not expect prices to return to where I bought them any time soon. Yes, there are going to be minor retracements, which I am not interested in day trading. My thesis is that the gold and silver mining stocks are in wave 3, which means we are going to go up in what will look like a straight line on the monthly chart. So, I am just going to sit back and let the  current take me there. I have my stops in place – near break even.