8:04 am PST. Saw a block trade on GLD at 115.80 for 190,000. It appears the MMs are starting to take profits on their shorts. But I continue to look for 1200. However, I may exit my shorts a little sooner and then get back in….depending. The mining stocks are a lot stronger than gold, usually a tell, as mining stocks often lead gold directionally. Watching GDX, JPY/USD, and $DXY are all great indicators. Everything is connected.

7:12 am PST. Scaled out GLD overnight swing puts weeklies expiry this Friday. Still holding onto some with expiry next week. It is not quite done yet.