Trade Alert
We are entering an area of elevated risk with our NUGT trade. Gold, Silver, and GDX are on day 13 of the current daily cycle, while at the same time, GDX is at trendline resistance. Day 13 isn’t too late if we are beginning a new intermediate cycle, but that remains to be seen. For … read more Trade Alert
Trade Alert
The resource metals are really starting to jump. With no foreknowledge of what to expect with earnings, we were forced to exit our X trade. However, the entire sector is really getting a lift right now, so we would still like some exposure. We are purchasing 10% XME, which is a metals and mining ETF. … read more Trade Alert
Trade Alert
Gold looks to have put in a daily, and possibly an intermediate cycle low, on July 10. We exited our NUGT trade last week because we expected that it might turn lower when GDX reached its 50-Day Moving Average (DMA). As you can see on the chart, GDX slightly broke above the 50DMA, and then … read more Trade Alert
Trade Alert
We exited our UCO trade as oil battled the 50-Day Moving Average (DMA). After a few back and forth moves, oil is decisively breaking above this moving average again. We are going to re-enter our 10% UCO, and will use the 50DMA in USOIL as our stop. This way, we are in if it takes … read more Trade Alert
Trade Alert
Our stop on X was hit at $23.75, so we have sold our remaining shares. We are all out of X now. Sold X at $23.75
Trade Alert
We sold our remaining shares of NUGT at $31.20.The reasons we decided to lock in our profits are as follows: Gold is right at its 50DMA which often acts as resistance. The USD is right at a support level. If it bounces here, it could put downward pressure on the price of gold. The USD … read more Trade Alert
Trade Update
Yesterday there was a government meeting between U.S. and Chinese officials regarding trade that ended with both sides coming out and not saying anything to reporters. When the market heard this, X stock took off again. It seems to reinforce the view that Trump will indeed end up imposing stiff steel tariffs in the near … read more Trade Update
Trade Alert
The gold mining sector has been relatively weak compared to the price of gold. Each day, they have gapped up in price, only to be slowly sold off during the day. Now, with the gold stock indexes right at the 50DMA, we have decided to sell half of our NUGT holding. We are also going … read more Trade Alert
Trade Alert
We expected oil to battle a bit with it’s 50DMA. The last time it rose to the 50DMA, it pulled back sharply. We watched it this morning, and now that it is dropping a little further than we would like, we decided to sell our UCO position and monitor how it acts here. We can … read more Trade Alert