Miners Take A Beating

**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups. Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**

“Failure is not fatal, but failure to change might be.”John Wooden

We just can’t seem to get a good breakout, yet.

Consolidation is great and tight consolidation, as we’re seeing, is even better.

I was close to dumping my mining stocks today but I’m seeing so much bearishness and short entries talk, and we’ve already fallen quite far, that I held for now since those are signs of bottoms and most miners are at strong support areas, not breakdown levels.

August 31, 2016Still stuck in this flat channel for SPY.

Not much to say until this changes.

I’ve got a 10% weighting from 202 still with and eye on 217.50 for a stop area.

Have a nice night.

Warren

2 thoughts on “Miners Take A Beating

    • I talk about my miners in my letter to subscribers..
      I expect we will have 3 or so good years as the metals continue into the very early stages of this bull market.
      Warren

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