Trade Alert
We now have an undercut low in silver, and a swing low in gold. We know this ICL has tested everyone’s patience, but the current set up offers a low risk high reward trade, and we are going to make another attempt here. Bought 20% JNUG at $12.93 Stop $12.38 Target $15
Trade Alert
Bought 20% size SPXL @ $48.73 Stop @ $47.79 Target @ $53.90 Stock market index charts are bullish. We expect the SPX will continue its breakout above the recent highs and move towards the all-time-high. If however, it falls back down below today’s low, it would indicate a turn in the trend. Solid risk/reward here.
Trade Alert
Last night, gold dropped just below its previous Intermediate cycle low before bouncing back above its uptrend line. We are going to re-enter half of our JNUG position here at $13.50, and if the low holds, look to add to the position next week. Bought 10% size JNUG @ $13.50 Stop @ $12.70 Target @ $15.90
Trade Update
After breaking above its major moving averages, the gold stock mining index XAU has been unable to hold onto its gains, and today broke back below support. Given the multiple false bottoms we’ve experienced, we are going to ensure that we lock in some profit on our JNUG trade by moving the stop up to $13.81, which is just below the current low of the day. If it rallies from here, great, if not we’ll … read more Trade Update
Trade Alert
Last night, gold came within $1.36 of its previous Intermediate Cycle low. This coincides with trend line support going all the way back to December of 2015. Today, it managed to trade above yesterday’s high, and the gold mining stocks are leading the way higher. It is possible that gold could still run the stops below support before finally taking off, but we are going to add to our position here. Bought 20% UGLD at … read more Trade Alert
Trade Alert
Sold the last half of GE @ $13.90. The market dropped hard yesterday and is down again today. GE has fought the falling tide well so far, but eventually it’s bound to get dragged down with the overall market. So we’ll close this out and keep an eye on it for a lower entry again when the markets turn.
Trade Alert
While GE has been performing well for us, it is not immune to the overall market sentiment. The markets are in a vulnerable position here, with the DOW back below its 200 DMA—it had been two years since it closed below the 200-day, now it’s looking like it may do so for the third day in a row. Out of caution, we are going to sell half of GE at $14.18 to book some profit. … read more Trade Alert
Trade Alert
We sent out an app alert and e-mail to move SPXL stop to break-even as the SPX was falling. It’s now triggered that. Sold SPXL $44.62, break-even on the trade. The market spiked higher this morning on optimism the Trump administration’s trade war policies weren’t going to be as strong/strict as they at first made them out to be. Since the higher open, though, the market has steadily dropped on no news. Times like this … read more Trade Alert
Trade Alert
Bought 30% size of SPXL at $44.62 Stop @ $43.20 Target @ $47.90 chart of SPX (trade SPXL, leveraged etf).
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