We got a warning on Wednesday when GDXJ showed us a shooting star candle. These candles indicate exhaustion in the market. The market just runs out of buyers. These are reversal candles. GDX closed lower but did not shout the warning GDXJ did.
There is a populer leveraged inverse ETF with the stock symbol DUST. They had a good day Wednesday as the gold mining ETF's sold off.
One other consideration you can make.....and it has to be your call is to just take down some leverage. If you have several contracts, you could take profits now on some of them and keep just a small amount in the game. I cannot say right now when I will be recommending another metals trade if we get out or get stopped out now.
I still believe if a reasonable bill gets passed we will see stocks back at new all time highs in short order but this bill could be a major sticking point. Unless I hear otherwise from you, I will be raising stops on your NQ positions to 9200. If you have different stock trades than the ones I have recommended, you need to determine how the best way is for you to manage this risk.