Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

DUST: Pre-Market, Scenario No. 2

The pre-market action in the Direxion Daily Gold Miner Bear 3X ETF (NYSEARCA:DUST) looks to begin the session with the second (or third) scenario shown in the last update and repeated below:

DUST three-chart

Chart by TeleChart

Looking at the chart of the gold price at this link, the retracement from the thrust lower may be complete.

Looking at the gold-price chart on an hourly basis, we can see that there has been minimal upward progress from yesterday.....however, it is still pushing higher.

Keeping an eye on the rest of the market, there may be a low-risk opportunity in Real Estate.

The iShares US Real Estate ETF (NYSEARCA:IYR) looks as if there may be a shorting opportunity via the ProShares UltraShort Real Estate ETF (NYSEARCA:SRS) or the DirexionShares Daily Real Estate Bear 3X ETF (NYSEARCA:DRV).

Disclosure: The author is long DUST.