Pretty much my thoughts exactly on the current situation cept to say that the difference betwixt your trading method and mine is that I would only consider a long position in either GDX or DUST if either makes a "sizable" move to the downside. GDX would have to trade to at least 22.10...DUST would have to go back close to the low that was just set. You might trade the shorter term swings. That might get tuffer to do in just about any asset class...as volatility is about to increase dramatically imo. And alot of the swings will come for no apparent reason. Even I am missing "decent" trades becuz my technical indicators aren't quite giving "textbook" buy and sell signals before the reversals actually occur. I sure nailed that DUST turn higher though. ..after shorting it a 23.95. Look at the chart. Could it have been done any better?

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Fund&symb=dust&x=56&y=19&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11

The answer of course is yes!...I could have actually bought DUST at 22.30 market when I covered the short...but I didn't :-)