Hanging In There With DUST
Tim Knight | Jan 11, 2017 12:13AM ET
I’m very pleased with the breakdown in crude oil and in Mexico (iShares MSCI Mexico Capped (NYSE:EWW)), both of which I’ve written about quite a lot lately. One trade that hasn’t blossomed yet is my Direxion Daily Gold Miners Bear 3X Shares (NYSE:DUST) (triple-short on precious metals miners) long, but I’m keeping the faith. Looking at the big picture of, say, Direxion Daily Gold Miners Bull 3X Shares (NYSE:NUGT), this seems quite bearish. It might get a little more strength, sure, but I think in the end it’ll work out.
Looking at DUST in particular, it has had a very substantial drop since mid-December (I bought it only a few days ago), but at least we’ve got a series of higher lows in place.
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