I am now completely flat...zero miners, but still long my original gold position at 900 USD.I think there is a good chance that the July 10 low on miners gets broken...and if that does not reverse we could be heading to the Dec 15 low of 2015...this is where there would be a wipeout and mass liquidation...thus a massive buy pop. At this point nobody should be leveraged as danger is real. I simply do not think its worth the risk to stay long at this point and have my loss for 2017 which is 12% on my overall portfolio or about 22% on my miners...the loss is real but I did have a 300% gain on miners in 2016 so been a good 2 years.I am waiting this out patiently at the moment. GL and be careful folks.
this year has been bad for almost every miner and good for gold...for sure tax loss selling is coming...I may be completely wrong and we reverse, but risk/reward is simply not worth it for me. If those lows of July are broken which is not far away, and there is no reversal I think we are heading back down to those 2015 levels and even lower....I wouldnthen step in to my tgt prices which are 50% below these levels.