Trade Alert—DGLD
Yesterday, we moved our stops up to break even, which resulted in getting stopped out of our DGLD trade. The reason we did this, is because gold trades 24 hours a day, but DGLD only trades from 9:30 to 4 EST. So, when we are near our stop, we don’t want to hold DGLD overnight if it is trending against us going into the 4 o’clock close. With modern low cost brokerage houses, we believe … read more Trade Alert—DGLD
Trade Update—Stop Changes
Yesterday we issued an alert via e-mail: The Federal Reserve minutes of their last meeting were just released at 2:00EST. This always provides for a brief volatile period in gold. In the minutes afterwards gold spiked, dropped back down, and has now settled in where it was before the release. Our sense of the market was that the minutes wouldn’t provide an overwhelming surprise and the market would quickly absorb the volatility, which it has, … read more Trade Update—Stop Changes
Trade Update 5/23
This is just a quick update on what we are currently looking for with our current two trades. In last weekend’s update, we posted the below chart to show that gold is reaching a timing window where it typically will decline. There is no guarantee that it will happen, but if it does, we want to have some exposure to the move. We said that we would be watching the USD (US Dollar) index closely … read more Trade Update 5/23
Trade Alert—DGLD
Gold is testing a solid resistance here over the past few days. The Dollar seems to be putting in a bottom as well at support. We purchased 200 shares of DGLD @ $49.07. This is a small starter position for now, until we have more confirmation that this move is underway. Right now we are searching for the beginning of what we expect to be another longer leg down in Gold, and hope to add … read more Trade Alert—DGLD
Trade Alert—UUP
In this weekend’s update, we suggested the USD might blow right through the support drawn on the chart, and this morning it did. We have been expecting a bottom to be put in this week. The USD tends to trade the opposite of the Euro. Sort of like opposite ends of a see-saw. We like that the Euro is hitting an area of resistance at the same time as the USD may be finding support. … read more Trade Alert—UUP
Trade Alert—SPXU
The stop that we posted in the weekend Newsletter has been hit, and we exited the remaining half of SPXU at $16.38. Total return on the trade was 1.6%. The US markets are at a point where they could go either way, so we will just watch from the sidelines for now.
NL #112 Trade Update
Today we closed our remaining position in USLV and JNUG. While it is likely gold and silver will rise a bit more, the risk is rising as well. Since we believe the current rally in gold and silver are a counter trend rally and the intermediate trend is still downward, we locked in our profit when our first price targets were hit. If you look at the chart of the USD, you can see that … read more NL #112 Trade Update