Good Wednesday afternoon. This morning, following Trumps win, precious metals/miners began immediately selling off. Yes, both rates and the dollar have spiked higher (more on this later), but this move lower in PM/miners is a reactionary move based on traders fundamental belief that; "with Trump back, global geopolitical risks are lower and the need for a flight to safety trade in gold/miners has been largely reduced".

For several months we’ve been locked in on this chart of the gold miners (GDX) and the resulting bullish channel (below), which has played out with near perfection. We’ve used this channel to trade GDX several times in Parabolic Options and have used it in the VRA Portfolio for market timing decisions when adding to positions.

As you can see, today GDX has spiked through the lower channel line (blue circle..also at 100 dma), as GDX traded down to $37.50 this AM with last trade here of $38.60, with the lower channel line sitting just below $40. At the same time, on ...