x3rs of the pm

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HappyNow
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Had to settle for an exit at

Had to settle for an exit at $16.68. 

Have put in an order to go long if it drifts just a little lower.

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Swing trade indexed ETFs. Long physical gold, silver, and 1 miner.

Weasel Tracker
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I'm still expecting to see

I'm still expecting to see $16.60 next week as silver has not touched the uptrending support in the chart below. Maybe we see an inverted hammer candle next week, spending on how low it opens? Not sure how a bearish candle would look, but I figure any break past $16.60 is not good.

http://i.imgur.com/npOUZvz.png

HappyNow
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I use charts but at the same

I use charts but at the same time consider $16.63 close enough here and it's bounced off this approximate price a couple of times now.  Less high each time but I'm going with experience to take the risk. 

I'm going to go back to posting in Pailin's corner until Tony gets back in the fall.  It's a shame to see it stall just short of 5 million views ;-)  

Can't  promise to post every trade and I typically don't explain much of drives my decisions but where I have time and can be clear on my thoughts I will.

Speaking of trades, my dip into the long side clicked today.  Very interested in seeing how that goes next week.

Have a good weekend Weasel.

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Weasel Tracker
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Told you we would see

Told you we would see $16.60! If we break down lower (you may be right and $16.60 is bottom), I'm looking at $16.22 as the line in the sand of whether silver is a bull or a bear. If bullish, silver will bottom out at $16.22, and close back above $16.60 by Friday, forming a hammer candle. 

If bearish, looking for $16.22 to break this week... 

http://i.imgur.com/1Yq3dk0.png

Thanks for the heads up Happy! I'm going to continue to post my trades here as Tony wanted to keep this forum alive. I'm also trading x3ers, so it is appropriate. Good luck!

boomer sooner
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off the dock

Into the boat.  Bought USLV Monday, almost low tic of the day, $10.72.  Then to wake up this morning and see silver below $16, ugh.  Nice bounce this afternoon.  Going to ride the open interest wave, hopefully on the right side, $16.80/17.20, $12.50/13 USLV.

Hope all is well Tony.  Damn hot and humid here.

tonym9
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checking in hellofa call

checking in

hellofa call WT

Still on sidelines unplugging was a must.

I did clear a massive hurdle today. I passed my tests...both the State and Nat'l. The Home Inspection biz is within sight. I should do my first real inspection by mid Aug. As of today I can take off the student hat....feel so much lighter now. This is the first day of the next chapter....from this point forward it's all about gaining back control of my time. The transition from worker bee to my own deal is real...starting to see results now.  

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Levitation will levitate until levitation doesn't levitate. Rates be the key matey.

HappyNow
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Congrats Tony.  I'm sure

Congrats Tony.  I'm sure you'll enjoy having the direct connection between what you do and the results of enterprise.   

You can come back to trading when you want, the marketplace will still be there.  Or you might decide that running your business is busy enough!

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Swing trade indexed ETFs. Long physical gold, silver, and 1 miner.

boomer sooner
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Tony

Watching Eldora tonight?  Truck series.

oh, still holding USLV.  Up a smidge

boomer sooner
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Keeping this thing going

Marking trades.

Sold my $10.72 USLV today, $12.04.  Chickened out when the ball kept bouncing below my mark.  Not a bad trade, 12% increase in my IRA for 5 week hold time.

Gut is telling me a crack back to low 16s is in the cards, bwdik.  I missed this trade once (10.72-12.25 then made it back into the 9s to today), middle-of July and it pisseed me off when I held.

boomer sooner
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in again

$11.00.  Close $11.69, low $10.751  Silver $16.77 close

BLS Friday.

COT rinse in progress.

Norks supposedly  shooting missiles this weekend.

CHina has been off all week.

Solson's moon cycle, new moon

tonym9
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Time to breathe life back into this...

Time to breathe life back into this... Sent $ to the trading account. Am waiting for the green light. One of the things I would look for was a 10% move....today saw that move. 

Quote closes 2/1 with current trading at 1250pm-105 CST:

JNUG: 16.42.....currently trading at 14.98

GDXJ: 33.63....currently trading at 32.63

JDST: 51.47....currently trading 56.11

NUGT: 32.27...currently trading at 29.73

GDX: 23.70....currently trading at 23.09

DUST: 21.77...currently trading at 23.52

GLD: 128.07...currently trading at 126.43

SLV: 16.25...currently trading at 15.74

Commodities as of 1pm cst (drop in para)

GOLD: 1335.60 (-12.40)

SILVER: 16.65 (-.50)

WTI: 65.66 (-.14)

Paper

USDx: 88.97 (+.49)

USD/JPY: 110.22 (-.78)

Rates as of 105pm

US10Y: 2.847% (+.074)

US30Y: 3.086% (+.082)

Markets

DJI: 25729 (-456)

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"No! Try not. Do, or do not. There is no try." -Yoda

Levitation will levitate until levitation doesn't levitate. Rates be the key matey.

tonym9
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Currently have a long bias so

Currently have a long bias so will probably not play with DUST/JDST unless something compelling comes along. Still trying to get a detailed handle on things. It's much different watching with binoculars from the cheap seats vs in the game...

I'm looking for a loose JNUG 13 handle but may not get it. Trying to play the range that I watched from a distance over the past months....top at 20. 

Will admit to reading Avi G's market update a weekish ago...got my attention.

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"No! Try not. Do, or do not. There is no try." -Yoda

Levitation will levitate until levitation doesn't levitate. Rates be the key matey.

tonym9
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In JNUG at 14.70.....in on a

In JNUG at 14.70 jung down 10.4%....in on a down day at almost the low...good way to start, hopefully lol...

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"No! Try not. Do, or do not. There is no try." -Yoda

Levitation will levitate until levitation doesn't levitate. Rates be the key matey.

tonym9
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JNUG goes out 14.47, down

JNUG goes out 14.47, down 11.88% today. Holding my position, down .23 per share. It's ok. Longer term horizon than just today. Will await the new week to make a decision. 

WTI is down to 65.14 a 1.00% downmove....GOLD is down 13.80 or 1.02%.....meh, looks inline to me. 

Have a good weekend all. 

EDIT: Forgot to put the HUI in the above...closed yesterday 196.69, today 188.03

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"No! Try not. Do, or do not. There is no try." -Yoda

Levitation will levitate until levitation doesn't levitate. Rates be the key matey.

tonym9
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update

Just to update things, this morning in early premarket JNUG hit 14.85 and then faded to 14.50 land. I sold my 14.70 JNUG position at 14.50 a few minutes before the open due to the DJI -300+ and not being sure what the open would look like. JNUG opened and shot up to 14.79 after a few minutes, then sank to 14.10 where I was thinking 13s were about to print. It then went up from there and at 14.49 I repurchased my position. It's been ranging between 14.60s and 14.30s since. 

I don't see much now to shake me out as it appears the overall market has been stabilized. 

Will continue to monitor but not inclined to actively trade right atm.

Will update if anything changes.

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"No! Try not. Do, or do not. There is no try." -Yoda

Levitation will levitate until levitation doesn't levitate. Rates be the key matey.

tonym9
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dow down 1500+ dayammm, went

dow down 1500+ dayammm, went from 400 to 1500 in minutes....I stepped aside and will watch from the sidelines. Too unpredictable atm. Looks like a gold chart lol

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"No! Try not. Do, or do not. There is no try." -Yoda

Levitation will levitate until levitation doesn't levitate. Rates be the key matey.

tonym9
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Back in JNUG at

Back in JNUG at 13.80...watching closely

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"No! Try not. Do, or do not. There is no try." -Yoda

Levitation will levitate until levitation doesn't levitate. Rates be the key matey.

tonym9
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wow, gdxj and jnug/gdx and

wow, gdxj and jnug/gdx and nugt handled that 5 dollar down move in seconds in gold at 202pm cst very well...didnt even register in the b/a spreads...nice. that's the kind of stuff i like to see.

dare i say i'm starting to see a position i can live with for a little while. i got the 13 handle i was looking for, but it cost me .45 cents per share. i was able to increase my share count on the way down so that's awesome. miners report next week. by then the overall market should be fully settled. this setup is starting to look possible again. 

but i'm still watching it close. 

watching 1316low and 1339hi ..... short term levels only

----

and 15 minutes later a $4 gold drop over 15 minutes of time knocks jnug down .45.....just when you start think...

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"No! Try not. Do, or do not. There is no try." -Yoda

Levitation will levitate until levitation doesn't levitate. Rates be the key matey.

Weasel Tracker
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I think we are going to drop

I think we are going to drop another 60 cents in silver. I'm going to think about jumping out tomorrow. If she tanks overnight, then I guess I will hold....

tonym9
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Im thinking of holding

Im thinking of holding overnight too WT. I'm looking for the Asia trade to give a little relief to gold, and for that to translate to higher premarket for JNUG. If I don't get it, Ill prolly cash out and then .......... not sure. 

After a sober review of the charts, I'm thinking now may not be the time to be long a x3 miner. I really dont want to play the JDST/DUST side, but a 21.98 intraday low of GDX really blew up my thought process. 

The set up was GDX holding and going into next week miner reporting....still might try it but honestly it feels like a pure gamble vs a setup play.

So much for the thoughts of mice and men...

__________________

"No! Try not. Do, or do not. There is no try." -Yoda

Levitation will levitate until levitation doesn't levitate. Rates be the key matey.

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