I Obviously Screwed Up The GDX Overnight Short Trade

I obviously screwed up the GDX overnight short trade, see http://stockcharts.com/charts/gallery.html?gdx. From looking at the daily chart it was obvious that GDX's short term Wave B since 7-7 probably had (typically would have) substantial additional upside, and, would probably/typically approach the cycle high that occurred at 50.09 on 7-1-08. Today's cycle high so far is 48.92.

I wasn't necessarily going to hold the GDX short overnight, because the short term Wave B might not have peaked yet, but, I got caught underwater, which was the main reason why I held overnight.

Right now both the NEM and Walmart Lead Indicators are bearish and GDX is plunging, so, I'm feeling some relief. Both GDX and NEM made large gaps up at the open, which means that there could be more upside. Short term I should be OK. Very short term I screwed up the entry point. I'll feel a lot better if GDX and NEM fill today's downside gaps soon.

.......http://www.JoeFRocks.com/

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