Trade Update
This morning’s move from slightly higher, back down to slightly lower, looked as if the beginning of a bigger move lower was beginning. However, fresh buying came in to drive the market back up. While we are still below a declining 20dma, we are getting pretty close to the estimate of what SQQQ would be … read more Trade Update
Trade Alert
The Nasdaq has been showing increasing signs of weakness. It is long overdue for a correction, but so far, every dip has been bought. Yesterday, it finally broke through the 50-Day Moving Average, and this morning has failed (so far) to get back above it. We purchased 10% SQQQ at $31.90, SQQQ is an inverse … read more Trade Alert
Trade Alert
There may still be some more downside left in gold, but it is getting late in the daily cycle, and is in a timing band for a low. Our interest is to catch the “fat middle part” of the move, and now the risk of a bounce is rising. As you can see from the … read more Trade Alert
Trade Alert
GM seems to be stuck in a sideways channel around its 50- and 200-day moving averages. While the chart still looks somewhat constructive, it just hasn’t been able to attract any buying interest, so we exited at $34.36.
Trade Alert—DUST
The gold miners are in a timing band for a move down into a cycle low. Some weak economic data this morning caused the HUI and XAU to spike up to test the 200 day moving average, and they have since turned down and now are just below the 50dma. We have been waiting for … read more Trade Alert—DUST
Trade Alert—GM
We just bought a 15% size trade size in GM. We paid $34.31, stop is at just below the 50-Day moving average $33.80, target is ~$37.00. Will discuss more in the weekend newsletter.
Trade Alert—DSLV
Sold DSLV at $23.00 as it hit our stop price. We’ll discuss this trade in more detail in this weekend’s newsletter.
Trade Alert—UUP
The US CB Consumer Confidence number was just released, and came in at 117.9 vs an expected 119.8. This resulted in a downward spike in the USD, which caused our stop at $25.12 to be hit on UUP. As we stated when we entered this trade, it wasn’t expected to be a big money maker. … read more Trade Alert—UUP
Trade Alert—DSLV
This weekend we covered in depth the current cycles in gold. Silver tends to trend in the same direction as gold, although it can lead or lag by a few days. It also tends to be a bit more volatile, so it requires a little wider stop to avoid getting needlessly stopped out. We want … read more Trade Alert—DSLV
Trade Alert—DGLD
Gold prices moved up through resistance levels this morning, triggering our stop in DGLD. We are out at $47.98. The impetus for the gold move seems to have been a move higher in the Yen against the dollar overnight. Aside from that there isn’t a whole lot that would seem to have triggered this sort … read more Trade Alert—DGLD