10Dec10:59 amEST

What're You Doing with That Lawnmower Blade?

It looks more and more like gold bugs aim to kill the potent bear which has been in effect for several years now, as the precious metals and miners are difficult to trust in terms of sustaining rallies. Nonetheless, I still maintain the complex is likely to be bottoming here, with gold bears unable to follow-through lower on recent sell-offs. Yesterday's outperformance was impressive. But, perhaps today's action is even more impressive even though the complex is largely consolidation this morning. Specifically the precious metals and miners are holding firm even as oil tanks and equities come under some pressure. I may very well add back to my remaining DGP NUGT longs here, in the gold space. Also, SLW back over $22 would have my interest on the long side as a daily chart inverse head and shoulders bottom setup. Elsewhere, some Ebola HazMat plays are running again, namely APT LAKE. If LAKE can clear $12.50 intraday on the 5-minute chart, below, it may very well have another leg higher and be at least an actionable day-trade long idea with a stop below $12.25. LAKE

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