CrabClaw,
I'm still long around a 1/3 position silver/miners, but ready for another trade if the set-up is there...whatever sector it may be.
I got lots of buy signals last week from the paid services I have to buy gold/silver and the miners. But we also know how many times those buy signals have been wrong in the past (everyone was wrong trying to call a bottom in the miners in 2013 unless the June lows hold). Now, maybe the June lows will hold, and it sure looks that way for now.
I was already long when I got the buy signals from these guys, but when the charts and TA line up the followers of that data will be buying. I had to reduce my position size because I was around 225% long with leverage, now I'm back to around a 100% long again a 1/3 position long using 3x indexes. My GDX and GDXJ are in different accounts. I use 5 different paid services to look over data to take position trades, but it hasn't mattered for many months....the trend for the miners remained DOWN. However, I did pretty good once I started short-term trading the miners and keeping a core position of GDX and GDXJ.
Four of the five paid services I have are now long gold/silver and the miners. They do not all use the same types of data for their signals....and some take Very High Risk trades like Rambus using 3X indexes. Read his free article from a few days ago at the link below, he is very good at what he does.
Rambus Chartology for Subscribers | The Finest in Technical Analysis and Realtime Market Commentary.
No system is 100% and I make the final move based on that data from my paid services. The day-trading is no more then gambling, but I have a blast doing it.
TA - Waves - Value investing - Cycles - Insiders....etc.....I get it all from these guys. One service I really like for Risk Management is TRI and he uses a system called TEMPOS, and the most aggressive and takes Very High Risk trades is Rambus I mentioned above (uses TA), but gets whipsawed often.
TRI:
T.E.M.P.O.S. is my personalized way of approaching the financial markets. Risk management is the number one consideration before placing any trade, but aligning entry points with the consideration of multiple beneficial variables increases our odds of success dramatically. There is no Holy Grail in investing, and every mechanical system goes through periods where it simply doesn’t yield great results because it has a structure that is limiting. That is why I believe in utilizing the best qualities of multiple systems, and cross-referencing them to give us a non-biased perspective on the markets.
T.E.M.P.O.S. stands for the following:
◦T – Time (cycles)
◦E – Energy (fractals), Elliott Wave
◦M – Momentum
◦P – Price (volume, position size, exit points)
◦O – Orientation (technical analysis)
◦S – Sentiment (COT, surveys, opinion)
Each one of these variables used individually can result in a great trade…occasionally. However, when used in combination with each other, they become much more powerful.
My fundamental structure for looking at the markets is cycles, and within each cycle I use both Elliott Wave and momentum to analyze the structure of the cycle. This leads to a strong, objective view of price action on multiple time frames.
The Swiss Army engineers knives with multiple tools because they understand that it is impossible to predict which tool will be the most useful at any given point in the future. We need to have the same multifaceted approach as investors because we don’t know what opportunities the market will present to us. In baseball, the best hitters can only work with the pitches that the pitcher gives them, they must have patience and not chase out of the strike zone. The highest paid players are the ones that produce the greatest results when that pitch finally does arrive. The market rewards investors similarly
The Refined Investor | Ignoring The Immaterial
Anyway Brotherman, I normally would have sold everything Friday, but in my opinion the game is changing, and I will be adding to my position trades in the future ( at cycle lows if I can catch them correctly) and less short-term trading. I'm not saying it will be straight up, but I think the trend is about to change.
Good luck to you next week. The Bears will not give up easily....but at some point we will get a rip-your-face-off-short-rally that will be jaw dropping, and I want to be long for it. The 14% gain in JNUG will be small when that move comes, and it will be multi-day rally. The Mo-Mo Boyz will see it and we will be off..... Ha....At least that's the plan.
JNUG: Summary for Direxion Daily Junior Gold Mine- Yahoo! Finance
Good luck next week!
