3pm update - chop into the close

US equities remain choppy, with just a hint that a retrace is at least one day closer. The metals are holding gains, Gold +$19, which is naturally helping the miners, GDX +5.5%. VIX is holding minor gains of 3%... in the low 13s.


sp'daily5

GDX, 60min

Summary

*I won't be meddling in the indexes for some considerable time, but with another stupid bounce in the miners, I've picked up a small GDX short position. Holding to primary downside target of 15/14s.. which is well within range if Gold falls <$1100.
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Other than the rather interesting interview with the BABA CEO today... its been a not surprisingly dull day.

Notable weakness: oil/gas drillers, RIG -1.1%, SDRL -1.6%... with a long way down to go into next spring.
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..back at the close.