There have been two “slow and steady” trades I’ve been writing at length about it – being short precious metals miners and being short the Euro.

Well, you probably know by now that gold is doing what it does best – falling – and the prospect I suggested that maybe it might get a TINY bounce before resuming its lame ways is out the window. I suspect GDX and GDXJ will continue blossoming (well, rotting) based upon their absolutely marvelous topping patterns, heading for prices lower than anyone dared think. As for poor old gold, it looks like the next $100 down has nothing blocking it………

As for the EUR/USD progress has been slow, but reliable. As the Euro and Yen plunge, the US dollar is looking mightier every day. Here’s the trend failure for the Euro:

(Click on image to enlarge)