GDXJ Possible Exit point

There is a channel working right now. i´m tented to exit and enter, except if gold moves so wild that the top line of the channel is crossed by the candels.
Trade active: I finally decided to place sell orders above 60.00
Trade closed: target reached: The way gold stock are doing, there is a top. I sold all my positions at 59.80 an enter shorts.
Trade closed: target reached: Gold is making new highs along the day and stocks don´t follow....top for the sector. Maybe a drop soon, don't know how deep. At least to the channel.
Comment: I open short positions yesterday and more today. I will close then and the 54-56 levels. If gold falls fast (and it could) we could be there tomorrow.
If not, probably next Monday 26
Then...wait and see. Important support 54.
Comment: This thing is crazy.... i still hold my short position, but i don't know if I´m doing right
Comment: exit short positions. This can move higher and higher
Trade closed: stop reached: Gold could be close to an important top, but timing it is difficult. So I have no position now. It could go up to new highs or go correct. For me is a risky situation until i find a more "secure" point to either go short or long.
We are at the early stages of a multi year up trend. I think we are like 2004 when gold reached 430 $ or so, just above the 420 $ from 1.996 (almost 8 years later). This time is almost equal to the 2011 top from now. It doesn't mean that things have to follow the same path, but it helps. Let the market shows us the top. Too volatility now.
Comment: This is wild...that's why i like it.
One of the most difficult things to do is to trade a clear sharp up leg, like the one in the precious metals from June. Simple because you just have to no nothing. This is simple for an investor, but difficult for a trader. Always looking the other way around when things are simple and clear most of the times. (Just a thought and a lesson to learn for me). This changes in every momnet, but if i had to bet, i would bet with the trend...up. Maybe 66-70$ next end of next week, and gold... 2.0XX $. With stop loss and so and so.....


Are you still short? What do you make of today's close?
JAY_Cabuxo zstocks
Hello. Yes I'm still short. I bought JDST at 11,41. So I'm even.
I expect a drop of gold. Three days with a rise of 50$ in gold but gold stocks remain even at best is not a good sign. It has never been a good sign. Se are at a extreme situation.
I Also bought more short today.
+1 Reply
zstocks JAY_Cabuxo
@JAY_Cabuxo, ok thanks. I bought JNUG puts today, last year GDXJ pulled back during July fed meeting which is next week. Would like to see 56-55 GDXJ at least on correction. A little concerned because GDXJ bounced back strong from yesterday’s dip.
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