I'm hedging with puts on large miners and GDX. Long small juniors and explorers. Here are the top-10 holdings in GDX. I don't know which miner could fall the most.
In general, I see a lot of bullishness in the stock market and metals, but aside from gold itself and some of the small caps, everything is at lower highs including the FANGs. I remain long-term bullish on gold and miners, but it seems like the time to exit everything was 3 weeks ago. The island reversal on $SPX is intact.
FTAV’s further reading
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Stupidity; Soho; Stiglitz; and spam
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