Bear Cave 2 (Bull Allowed)

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tsptalk said:
When I look at the $GOLD chart (on decisionpoint.com) it looks like gold made a minor breakout from the recent descending trend. But the GLD chart still has it under the resistance line. Looks like a make or break time for gold.
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I sure hope it's a breakout, since I'm on the slope of hope again for the metals and the miners. I'm long and I added some more shares today.

LONG USLV GDX and JNUG
 
It's hard to time the short term moves in the metals & miners. IMHO, this year should be a good year for those of us holding longer term, but it will be a bumpy ride to shake out the loose hands.
 
CrabClaw said:
are you adding miners this afternoon?

I picked up more JNUG at 21. per basis I'm down over 5% :(
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I added some more shares also, and will buy some more tomorrow if we keep selling off. I'm down more then 5% now on this trade, but will hold.

Rambus just sold all of his Metal/Miner positions and is now flat.

"With the H&S tops breaking down today on all the precious metals stock indexes I’ve decided to bite the bullet and go to all cash and wait for a new setup."

http://rambus1.com/
 
Friday Was a 90/90 Day and What It Means
By Barry Ritholtz Jan 28, 2014 5:15 AM PT

Last week ended on quite the down note. Friday’s big selloff saw the Dow Jones Industrial Average drop 2 percent, or 318.2 points. The Standard & Poor's 500 Index fell 2.1 percent (38.2 points), while Nasdaq Composite Index declined 2.2 percent (90.7 points).

The technically significant issue was that Friday was a 90/90 day -- more than 90 percent of the volume (94 percent) and of the points (97 percent) was down.

A brief explanation for those of you who may not be so technically oriented: When markets experience a bout of intense selling -- those trading sessions when 90 percent of the volume is down, and nine out of 10 stocks close lower -- it can mark a short-term reversal in a bull run. Typically, it signifies a shift in psychology among larger institutions.

Friday Was a 90/90 Day and What It Means  - Bloomberg
 
CrabClaw said:
dumped my JNUG for a 3.4% loss. thanks for the heads up in the other thread.
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Hard to say if it will work out, but I just can't fade all 3 Data points....TA , Cycles, and DA - Waves.... Gold is slipping under 1250 again...., but the Bulls are trying to keep it above 1250. I'm looking to buy shares back at cheaper prices, and if I can't...Well, you can't win them all! I took more then a 3.4% loss on this trade ( Risks of trading 3X indexes). The guys that are holding or Hedging are not use 3X indexes, and are holding position trades. I sold my position trades, and I will try and buy/time the next DCL to build it again for a possible wave 3 up....It's never easy! I have 3 paid services now holding GDX and GDXJ as position trades and they have no plans of selling for now. Rambus surprised me with his weekend report, and now he is actually short...gold silver and the miners... all 3X's. I'll pass on the short positions and wait to try and buy the next DCL. We could have a Big Rally tomorrow after the Fed talks, but I'm going to play if flat, and I might fade any big gaps up or down for a trade.

Good trading.
 
The minors are outperforming gold. The GDX has broken out from it's downtrend while gold is still struggling below it, but testing some short-term rising support.

gdx1.gif


gld1.gif
 
tsptalk said:
The minors are outperforming gold. The GDX has broken out from it's downtrend while gold is still struggling below it, but testing some short-term rising support.

gdx1.gif


gld1.gif
Click to expand...


The miners sure have had a nice run the last month, and for now it sure looks like they have bottomed, but I'm short-term trading 3X indexes (metal/miners). I'm going to buy back my position trades in the next few days.... If this is a Wave 2 down then a smoking Wave 3 up is coming that will cause a short-covering rally that most folks will not even believe.

Good trading and nice charts.
 
CrabClaw said:
If futures are any indication he may be right again. R2k down 1% now. they have been moving quickly lower in the last hour, I am holding IWM puts :)
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Nice trade Brotherman!

Time to post these comments again: It's not what you don't know that hurts you, it is what you know that isn't so.
 
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