Can't really follow today due to work but took a jdst at 18.60...just don't see 1220 falling yet. Also Asian holiday approaches 1/27 iirc
JAL: good vibes to ya Bud, been there myself more than I want to remember. I'm not ballsy enuf to use margin.
Great seeing you Titus. Miss the old crowd. Meanwhile the only reason I stay afloat is because the CDN dollar is going down and so my metals are pretty flat.
I was certain Trump would win. Even met an American abroad this summer and told him so and he seemed stunned. I thought he'd do even better than he did, but Canadians here are livid. I'm not, it's a refreshing change and if the US dollar goes up I might even make a tiny profit in my metals. Glad I bought in 2010 though.
Thanks for the info Titus. Hope you and yours are doing well.
Starting to think the PPT is looking for the same thing I am.
Closed $Gold yesterday, needed the money elsewhere.
Opened another... Correlation and stuff innit.
(Was just taken out at the low and had a stupidly tight stop.)
P.S. Hi Redwood.
Margin is the devil.
(Especially when you're levered >100:1)
EVEN FURTHER EDIT:
Forgot to say...
Bought more NUGT yesterday.
Nice little spike there, put the money to work somewhere else.
Long the break!
(Forgot they're not allowed.)
...except maybe that double top in oil.
Nice meeting you if we haven't before.
I have been recently gazing at Franco-Nevada, a Canadian based metals royalty company that appears to have superseded all odds, while most other non royalty companies were slaughtered with the down turn in metals. I considered many times in the last 3 to 4 years, but didn't bite. Here's a graph of some of the royalties, and FNV has slightly outperformed them all.
Scroll down to view the graphs. If you want to go further back in time than the graphs, the results remain impressive.
Of course, you will note the small caution that past performance does not guarantee future results.
I've traded all of these in the past and held SLW for the past year. As Armstrong says gold's time will come I've been thinking of adding Royal Gold or Franco Nevada so I don't have to concern myself as much about timing, or decay from holding a 2X ETF too long. This would be longer term rather than seasonal and come from selling some energy holdings that I don't think are going anywhere soon.
The link you provided does a good job of explaining the business model and of course good charts always a value.
JAL: Margin IS the devil and it will rip your heart out on a bad day. I'll use it to float my trades waiting for settlement, but I always stay under my account value when buying. If I went to my wife asking for $ on a margin call she would shoot me on the spot.
Redwood/HappyNow: good to see you both back
End of week trading report (M-Th): 9-1 for 9% gain so far this week. Mostly JDST. Some inactivity days/periods due to work and an overnight JDST hold which killed the next day's DTBP and got me off sync with the big run. Since 18.65 JDST I've only collected 2.01 per share...JDST has moved to 21.43 this morning premarket for a total move of 2.78...so I would have done better simply holding this week, but holding makes me nervous as hell so it's worth the chop to limit risk.
In JDST premarket at 21.43 at 5am open....should have waited a little. My hunch is a downdraft today as longs will want to get out and not hold over the weekend.
Momentum has clearly shifted to the downside and I'm looking for a breach of 1160 today which would set us up for a test of the recent lows next week. I'm not sure we get the test. Either way, next week's calendar is not gold friendly. But after next week I will be looking to switch long, hoping to get JNUG with a 6 handle.
Am off today so I will be daytrading today's moves. We shall see. GLTA
Well I made a rookie move today. I totally forgot GDP reports were today and didn't watch as it came out...got sidetracked. By the time I checked I was down too much to sell into a downtrend market for a loss. So much for daytrading today. I'll hold for next week's uglys that I'm sure are coming. GLTA
(All's well that ends well...)
After years this man continues to have a stellar record.
(Don't dare say why...)
The PPT entered the market at 16:30 GMT
It's me, JustAnotherLurker...
(Y'know the one that never shut up.)
(Trying to be sensible.)
Obvs not talking about the brokerage account, lolz.
still watching my JDST position...this morning was a bit painful, but awaiting fomc...we shall see.
JAL: good to see you get some green back from Mr Market
Redwood: Avi has been pretty good the past few years, like him a bunch
NGD down 24% today! I bought some @3.12 to see if we get a rebound in a few days.
Twenty minutes before the close "someone" decided to buy the market...
(Maybe a little bitter, yes.)
So I may have had some shorts left...
(Just on the off chance we were allowed to close at the lows.)
Then THAT happened.
Realise now that I'd lost all sense of perspective.
Anyhoo, the losses were relatively small compared to the gains.
Was at various points...
Short SPX, Nasdaq, DAX, FTSE, Nikkei, $WTI
Long $Gold, $Silver
(With mixed results.)
Closed the winners early, reestablished bigger positions and new ones, then bailed when it started looking dicey, which was sort of my plan.
(Most of the early winners were opened on Friday.)
Then at some point I decided to chase it down with a bunch of positions with tight stops, which ended rather badly.
As for the all in comment, well that would be the brokerage account.
(Now own nothing but leverage.)
Thanks, means a lot.
Sold out of that a few days ago, along with everything else that isn't 3x levered.
Love falling knives but... Prefer sharper ones.
Best of luck with that though!
wow, USD takin a hit this morn
surprised JDST didnt get a 17 handle at the open wouldn't surprise me to see it today
holding for FOMC but its starting to get painful
looks like a stop run and the traditional prenews run up to negative event