This is just a quick note to let you know that we MAY be adjusting the current short position in about 45 - 75 minutes. Depending on how today’s session is going to end, there may be some very short-term implications that we may want to consider. If today’s session is going to look like a reversal close to its end, then we’ll likely limit the current short position, taking part of the profits off the table. The volume in the ETFs is already high, so the reversals would be confirmed.

BUT, it’s too early to say that it will indeed be a reversal. Gold, silver and miners moved back up, but now they are going back south, and it may be the case that there will be no daily reversal candlestick at all.

Summing up, at this time we view the current short positions intact with their current size (200% of the regular position), but this may change, and we’ll let you know in about an hour or so.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA
Founder, Editor-in-chief, Gold & Silver Fund Manager

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