RE:RE:beginning a short positionI believe momentum has shifted to the downside for the short term for all PM stocks. High flying mining stocks that were highly overbought will level out as profit taking and shorting will put pressure on stock prices.
Watching trade action on SSO this week showed there are plenty of dip buyers. Will these buyers be around next week and the week after? Time will tell but if I had to place bets I would say the downside will be limited IF Gold and SIlver stay elevated in this range.
Still in a bull market in PM so no need to panic when SSO is making heathly profits at these levels.