I know this sounds strange but this was the quietest up 275 day I've seen in a while. I did nothing today except take some profits on my gold shorts. I'm still short the precious metal and intend to be until $1700. I think gold can see $1550-$1600 but should see some temporary support around $1700. This rally had no juice for me because the high-beta names (Apple (AAPL), Amazon (AMZN), Hansen (HANS) ect...) underperfomred the market and that's never a good sign for a rallies longevity. Of course the rest of the market could just be catching up to the high-beta's which have led the way so far, but it's certainly something to be watched.
This is not a recommendation to buy or sell any securities. DAK was long AAPL and HANS and short GLD at time of publication but positions can change at anytime.
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