A Quick Spot for a Paper Tiger; Chess Moves

As I noted in my last blog post, I went long DUST at $14.61 with a tight stop-loss below $14.30. This position is about 4% of my trading portfolio. DUST is the triple-bearish ETF for gold miners. 

The miners have been struggling of late, and the GDX (from which DUST is derived) may be losing its 50-day moving average (dark blue line) today, seen on the daily chart, below. 

Gold bugs have had plenty of chances to get things going to the upside in 2015 (and since 2013), but their lack of follow-through has made me a seller of longs I had played into pops, rather than adding into them, for the most part. 

I may very well be out of DUST by the bell today, depending on the action.