Trade Alert
The USD is nearing a potential point of resistance, and is in the timing band for a cycle high. In addition, The HUI is right at its 200DMA which could serve as support for Gold. We are going to re-enter our NUGT trade here. Bought 15% NUGT @ $32.08 Target $36.00 Stop @ $31.04
Trade Alert
Whenever we are long Gold or gold stocks, we prefer to do so with a falling dollar. With the USD breaking to new highs, our risk is increasing that gold could once again gap lower. Although Gold is in the timing band for a cycle low, it is on the verge of breaking to new … read more Trade Alert
Trade Alert
We highlighted the technical setup for the HUI in this weekends newsletter, and pointed out that the biggest risk for it is the current rally in the USD. Unfortunately, that risk has not gone away. However, a couple of bullish things happened yesterday, that have us inclined to enter a trade anyway. First, the 200DMA … read more Trade Alert
Trade Alert
With oil testing support, we are going to close half of our trade in SCO at $35.21, and move stop on the other half up to $34.79. Sold 1/2 of SCO @ $35.21, still holding 1/2
Trade Alert
On Sunday, Catalonia, is attempting to hold a vote for independence from Spain. Reportedly, 16,000 Spanish troops have been sent to the area, and Madrid is adamant that this vote will not take place. A showdown of some sort is coming to a head. Technically, our EUO trade still looks intact, but without a big … read more Trade Alert
Trade Alert
NOTICE: TWO TRADES Oil is in the process of putting in a 2B top. It will take a close below the red line to confirm, but we are taking an initial position of SCO of 20% With oil being a major component of DBC, we are also closing out our DBC at $15.47. Sold DBC … read more Trade Alert
Trade Alert
Well, the US Dollar has finally chose a direction—up—which is good for our trade in EUO, but not for our NUGT trade. With the USD rallying strongly, and Gold having broken support at the 50DMA, there isn’t a solid reason for us to hold NUGT any longer. Sold NUGT @ $32.34
Trade Alert
We discussed the Russell 2000 index this weekend. With the major indexes showing weakness today, and the Russell 2000 putting in a 2B top, we are going to purchase TWM (2x inverse etf of Russell 2000) @ $19.87. Bought 20% TWM @ $19.87 Stop @ $19.47 Target @ $21.90
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