Photo by Zlaťáky.cz on Unsplash

The market started off down hard this morning, yet as is so often the case, buyers are pushing their way forward, trying to reverse the tide. Let’s take a moment to hone in on something specific, however: precious metals.

Silver has had, shall we say, a spectacular year. Once more, the metal has reached a new lifetime high (nominally speaking, of course).

Palladium, my own obsession, may be butting its head up against important resistance by way of the 134.79 horizontal. I’ve trimmed my position based on this risk, since we’re at the top of the range.
 

What compelled me to do so was gold, which by way of GLD has approached an important gap at 394.20. I have shorted a chunk of gold with a stop just above this level.
 

In a separate account, I’ve become extra-saucy by buying DUST (at lifetime lows, natch) which is the leveraged bearish-on-precious-miners fund.
 

Simply stated, I have embraced being a for-the-moment bear even on my beloved precious sector.

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