At some point this rally is going to fizzle and correct. I would not get in front of it until there is a sold break of the trend, and the wiseguys start hitting the exits.
The problem is that the volumes are so light that people are concerned that they will miss out on the drop, and so they keep shorting it trying to pick a top and front run a decline.
Better to miss the first leg than to exhaust yourself, and be too weary and dispirited to play it when it comes.
I am using shorts only to hedge my bullion and mining longs at this point, along with a few other devices. It helps me buy these dips as we saw today and hold them with some conviction.
The long term trend is so obvious that if one does not get it by now you may as well start keeping bees in Sussex.
