When I brought up this chart to short the miners (XME) in Chat and subsequently posted it in the charts section, it was prettymuch met with the sound of crickets.......but I never said it would be easy. To my thinking, one would add up near resistance (which we had last week) and cover above it; thereby limiting the risk to ones portfolio.
Well the mining bulls a're finally giving in.
I preferred shorting XME over an individual (possibly weak) miner due to anticipated M&A activity in the area but that's just me. Blame China slowing down. Blame an increase in copper production vs. 2013 and no demand. What does it matter. Good things come to those who wait, Come to Mama!
