What a difference a day can make! Everything was just SO bearish, and now… Well, some things changed. They changed quite profitably, as we just took profits off the table with GDXJ at $33.26. And right now, it seems that long positions might actually be justified from the risk-to-reward point of view. How come? Because no market moves up or down in a straight line, regardless of the bigger trend. And when things get too excessive on one end of the spectrum (bullish or bearish), the odds are that we’ll see a countertrend move. That’s just how markets work. Because that’s just how emotions work. Once the fear or greed ... (full story)