April gold slipped to $1325.50 earlier today before bouncing. Prices are back up to around the $1330 level. Gold needs to rally above $1335 or decline below $1325 to break free from the short-term consolidation.

I was stopped out of USLV this morning.

The UGAZ position is profitable, and I’m raising the stop to just below $32.00.


-GDX- Miners sank to $22.36 filling the prior gap. Where prices finish today and tomorrow is important. A decisive close below $22.43 would recommend an exhaustion sell signal and support a 2-4 week correction.

-GDXJ- Juniors also dipped below the previous gap level. Finishing below $33.00 would support a 2-4 week correction.