catching a falling knife, in JDST at 68.28 for the ramp up in USD/JPY before the open...tight stop...just don't believe it will be left to a market only decision
JDST holding in pretty well, candidly I'm surprised...based on the action my expectation is that JNUG will let go of all of its stomach contents once USD/JPY gets the inevitable bump, in a big way. LSO on JDST at 73 but ready with mental stop pending action...we shall see
still holding 68.24 JDST...just happened to be in the shower when the bottom fell out. turn your back for 10 minutes from one of these x3 funds and they will rip your face off
it has recovered to 67mids which is where it was/has been all morning except for the flash run.
jnug back to 20.30s where it opened...was a good overnight hold for the brave, i wasn't. missed the entire run to 21 land...it went out in a/m last night at 19.60ish.
im still waiting on the USD/JPY reflate...we are at USD/JPY lows of the day...once the reflate starts JDST should fly...assumes a reflate happens but i think it will. LSO 73 still awaiting
EDIT: Gold coming up for a double top on todays chart...yet JNUG/NUGT are only up 5%...JNUG is off .80 ??? ...they should be way way higher. Screams DUST/JDST imo once the USD/JPY reflate comes...again, assumes it does. The UST 10yr % is off way big, currently at 2.223 down
sometimes you just have to laugh
i watch all day, and i mean all day...my JDST was roughly 67.50 except when it dropped pretty severely and bounced right back. so around 145 it finally starts moving up...breaks 68, then 68.50, then shot up above 70. Of course I have to leave for a doctor appointment once it starts crossing 70, at 70.22 per. Couldnt watch to find a good sale price.
but I set a 1% trailing stop...it went at 69.71 from a hi of 70.38
tomorrow is a new day and i'm hoping to be a bit more in sync with the market...getting used to the shingles, at least as much as you can get used to them. no more pain meds, gutting it out.
thinking gold drops overnight but no overnight holds for me
as of 445pm cst 5/17/17
10 yr UST % 2.223
$18.20 in one month
jdst at 68.11 for same strategy as yesterday, sold 68.60
in jnug at 20.00 for going the other way
Silver wanted to retest support today. Fortunately Gandalf was there to defend the bridge!
did a back study and eliminating the chop is crucial. switching focus from day to swing...less stress, better odds, better rules...hate holding a x3 though.
still in JNUG 20.00 with a stop of 17.50 and a target of 27.00 before FOMC preseason
Good decision Tony! Sounds like the shingles and your trading performance the past week have been a little painful.
Swing trading x3 is where the $ and happiness is... as long as you get the market direction right. That drop to $16.00 silver last week had me nearly sh*t myself. I was so sure $16.43 was going to hold, and a break of that support would have meant a bloodbath in silver. I'm really looking forward to the next month to see what happens with the $18.20 resistance. I really want to ride DSLV from $18 to $12, then ride USLV from $12 to $20+. That would be some nice $.
Good day today, considering gold was up and Canadian trading closed. A .70 daily up in JNUG (19.18) and more importantly JNUG outpaces NUGT by a half a percent...that's good to see along with GDXJ at 33.13 per. Looking for gap up tomorrow morning if gold can hold 1260 land, might re-touch 21 if the jrs react well after being closed in Canada.
still holding 20.00 JNUG
WT: The past 10ish days have been one serious wake up call for me. Kinda like a frog in slowly heating water, I didn't realize the amount of stress I was carrying. Daytrading has its periods of good trades, but the backstudy proved the chop is killing my profits. But daytrading wasn't the only cause...working on that.
I wish I could post charts....pull up a netdania gold weekly...study last year and compare YOY 16 to 17. It's a mirror. It looks like the next 6 weeks are set. I'm looking for 27 on this position, but if I get it I'll prolly use a 2% trailing stop and ride. Sit tight and be right comes to mind...IFIFIF we get a repeat of 16, JNUG 60-80 by 7/4 is legit target
Tony, I would love to see you post some charts. If you have windows, the easiest way to do it is to "print screen" CTRL, PRTSC, then paste into a program like microsoft paint. Crop the chart area, then save it. Upload it to imgur and you can post charts...
looking for a possible exit point for today (21.50+ ish) so I'm able to be nimble tomorrow for FOMC and GDP friday since i'm not sure which way it will go. still medium term bull but not sure about the next 72 hours....possible sale on JNUG/NUGT?
TSX opening after being closed yesterday....much better levels since close on friday....silver up to 17.25/gold at 1261.54, USD/JPY down to 111.24, 10 yr UST 2.243, 96, 96.86 USD.....expecting a nice pop in JNUG/GDXJ today
WT i need to have my wife look at your instructions. not sure i have the program. im not a computer pro. sure would like to put some charts up for discussion tho, i'm seeing some pretty interesting YoY comparisons
Fridays best #:
Gold: 1256.40 hi
SIlver: 17.14 hi
USD/JPY: 110.76 low
UST 10 yr %: 2.240
You could also try a trial of SnagIt and see if it is worth it for you. It's $50 to buy
Hit my stop the other day at 17.50, sold at 17.33...that damn JNUG should have run up, not down. Purposefully sat on the sidelines and after 2 days (almost) of not paying attention, this is my first login since hitting the stop. I took a break and did something I didn't think I would do...I liquidated my trading account. It's temporary, but for right now I need to eliminate this. Time to focus on my home inspection test/biz, destress, refocus. I plan to come back in the fall.
You are now cleared to load up on JNUG lol.
FWIW i still think the gold chart is predictive and it will go up from here. Take a hard look at a weekly chart, 2 year timeframe, pay attention to this time last year.
Good luck to you guys trading. Keep this forum alive, post your trades, make some money, help the new guys. I'll pop in from time to time.
Yes you have to be able to focus on trading to daytrade. And given what you have on your plate it makes sense to leave that alone for a bit rather than lose and beat yourself up.
That's why I moved to swing trading but even so it sometimes is a pain. I did take a break of a few months in between daytrading and swing trading to get it out of my system. Frankly I don't know who is left here doing daytrades.
Miss having Rico and wonder how he's doing.
I did lighten up on the silver bull this am at market open. I do think higher is in the 2 month horizon but wanted to step back from being all in so as to be positioned to buy should it go down first. I don't use margin and have to consider settlement time in my trades, besides 12% in a couple of weeks meets my need for greed.
Worth noting that the last couple of times that I saw a daily pattern like we've had over the past week it broke to the downside not up. That also influenced my decision to sell some.
Good luck with the home inspection. You really help home buyers.
Forgot to mention...for the technically inclined the Ag price right now is a resistance area on the chart.
Silver has held $17.25 three times. Looking good.
Looking for silver to continue north tonight
The bullish pennant went the wrong way in the Asian market! Have support at $17.11, $17.00, and $16.82
Weasel there have been 2 moves like this already in the past month. If you believe the trend is up then don't panic.