OIH stopped it’s decline on the 4-month trendline. I mentioned I’d be watching for a trade in gold and oil stocks.
DIG, the double-long Profunds ETF, is one way to play the volatility in the sector. DIG bounced off it’s 50dma today. DUG is it’s double-short opposite.
Until this uptrend is broken, I’m comfortable with the long side. One more chart… Look at the channel XAU is trading in. It’s stalling at the 5-minute 200ma as I write this. A first target for partial sells.
