Trade Alert
Bought 20% size of OIH @ $23.52 Target @ $25.87 Stop @ $22.69 OIH has found support right at this level 4 times in the past year. In addition, USOIL just punched through the 50-DMA.
Trade Alert
Sold TMV position at $19.96. It’s a little before our original target price, but we’ve run into a trendline on the charts of TLT and the US10-Year yield, so we’re going to play it safe and book the trade here. We also hit our stop on JNUG this morning. So currently have no positions remaining on.
Trade Alert
Bought 20% size of JNUG @ $7.30 Target @ $10.95 Stop @ $6.98 We know the metals sector has been very frustrating to trade lately. We’d like just to walk away and forget about this sector. But from a reward to risk standpoint, the technical setup is too good for us to ignore. Gold provided a 9/20 crossover and is now rallying off of its 20-DMA at the same time that GDXJ provided a 2B. … read more Trade Alert
Trade Alert
The technical picture for gold is slowly improving. One setup that often marks a trend change is a “9/20”, where the 9 day exponential moving average crosses above the 20 DMA, and the price moves powerfully above the 20 DMA. The weakening dollar, falling below significant support levels, should also help support gold here. Bought 10% size of JNUG @ $8.56 Target @ $11.80 Stop @ $7.98
Trade Alert
Two trades: Bought 20% size of NEM $32.35 Target @ $35.95 Stop @ $31.39 Bought 20% size of FB @ $177.95 Target @ $214.00 Stop @ $170.90
Trade Alert
The US 10-Year yield bounced off of significant support this morning. There is no good 10-year leveraged etf, so we’re going to use TMV, which is a leveraged 20-year etf. Bought 20% size of TMV @ $18.85 Target $20.39 Stop $18.29
Trade Alert
Yesterday the S&P500 made a slightly higher ATH before dropping below its January high. The Dow Transports, which often lead the Dow, did this also.This is strictly a technical trade that may be short lived. In other words, it is a setup that often indicates a short-term trend change, but not always. It’s certainly possible the market continues to rally. However, this indicator does provide a strong risk/reward. Bought 20% SPXS at $22.59. Target $26.99 … read more Trade Alert
Trade Alert
GDX and GDXJ both reached very important support levels yesterday afternoon. Gold has done this a couple of times now, though, so we’re cautiously entering just a 10% size here. When gold gives us a swing low bottom we’ll look to add at that time. Until then we’ll manage the trade with a smaller size. Bought 10% size of JNUG at $8.31 Target @ $11.90 Stop @ $7.60
Trade Alert
Sold SPXL position at $49.73 Markets held up early this morning but a number of indicators have turned sharply negative. The Nasdaq broke well below the recent all-time-high breakout level, and the small-cap RUT index is in free fall. We had hoped to see SPX get back to its all-time-high, but with things looking weak here, and the weekend on the way, we think it better to just close it and have a look at … read more Trade Alert
Trade Update
We have been looking for a swing low in gold to increase the odds that the ICL is complete. For a swing low, we want gold to CLOSE above $1229.49. This morning, it traded above that level to provide an initial swing low, but it will take a close above that level for an official swing low. Absent a swing low, the odds increase that today’s action is was just a short lived blip, and … read more Trade Update
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