Smart timing on HYMC shorting metals weakness. I ran a similiar play last week and miner vol really does amplify teh underlying metals moves. The correlation breaks down way faster than most retail expects during broad risk-off. Overnight hold could work if we gap dwon, but watching gold here too.
Thanks! That move to $27.7 in afterhours yesterday was awesome but I only covered a partial at 29 and the rest today. Will consider a re-short if we can get a decent bounce or consolidation breakdown later on. Feels like the edge in metals has come and gone for the time being.
Smart timing on HYMC shorting metals weakness. I ran a similiar play last week and miner vol really does amplify teh underlying metals moves. The correlation breaks down way faster than most retail expects during broad risk-off. Overnight hold could work if we gap dwon, but watching gold here too.
Thanks! That move to $27.7 in afterhours yesterday was awesome but I only covered a partial at 29 and the rest today. Will consider a re-short if we can get a decent bounce or consolidation breakdown later on. Feels like the edge in metals has come and gone for the time being.