Trade Alert
Yesterday, GDX was trending down into the close, and ended up closing below the 50DMA. In addition, it had broken the uptrend line, and then failed to recover back above it. That was not a setup we felt comfortable holding over night, since Gold trades 24 hours a day, and can cause GDX to open … read more Trade Alert
Trade Alert
NUGT triggered our stop at break-even. It rallied nicely right after initiating the trade, but our reservations about Gold and the conflicting signals with the U.S. Dollar ultimately proved correct, and it dropped back down to our entry. We’re taking it off here for the night and will reevaluate in the morning. NUGT sold @ … read more Trade Alert
Trade Update
We explained in last weekends newsletter, that there was a conflict between the technicals in gold, and the current price action of the USD. To re-iterate, the USD continues to look like it is building a base here. It has now gone essentially sideways for the last 3 weeks. Its impossible to tell at this … read more Trade Update
Trade Alert
With Gold bouncing off of its 50DMA, and The gold mining index HUI bouncing off of its 200DMA, we are purchasing 15% NUGT at $32.82 Bought 15% NUGT @ $32.82 Target @ $37.50 Stop @ $31.85
Trade Alert
The USD has been showing signs of putting in a bottom. If we get a rally here, the Euro should do the opposite, and drop. Buying 20% EUO at $21.19. EUO is a leveraged fund that rises if the Euro falls. There is no leveraged fund for the USD, so we are trading the drop … read more Trade Alert
Trade Alert
The commodity sector has been rallying lately. DBC is a commodity ETF. As you can see in the chart, it responds very well to the 200DMA. When it breaks to the other side of the moving average, it typically continues for some time. It would not be unusual for it to pullback and test the … read more Trade Alert
Trade Alert
The bounce in the USD proved to be short lived. This morning, the Nonfarm Payrolls report showed less jobs were created than expected, and the unemployment rate rose more than expected. This pushed the USD down, and gold up, which caused DUST to open slightly below our stop. This is one of the risks that … read more Trade Alert
Trade Alert
After testing the lowest support level that we highlighted in the previous newsletter, the USD is putting in an effort at rallying here. It remains to be seen if it will succeed, but if it does, it could put downward pressure on the precious metals. The Yen is also turning down after hitting resistance. A … read more Trade Alert
Trade Update
Today’s action in the SPX (for our trade in SPXS) has been disappointing. After a sharp morning drop the market has clawed its way back up again. However, our bearish chart remains intact. We’re going to continue to let this trade work, but in the meantime we are going to move our stop up to … read more Trade Update
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