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GDX

Reversal of $DXY may have put a floor on #gold $GLD $UGLD $NUGTThe otherwise bearish gold chart may not touch down on $1400 to $1420 as many expected it to. Trade wars and tariffs along with the debasement of all fiat currencies may trigger the return to higher gold prices. Gold bugs who have been frustrated again and again over the last 5+ years may now see another large scale move as short positions are covered heading into the end of the year. The long-awaited event may be at hand. Goldman Sachs says gold is going to $1,600 www.kitco.com Here is what that might look like. Otherwise, look for support around $1415.
OANDA:XAUUSDLong
by blloyd
1
GDX - Strong Buy - Crossing 10WeekMAGDX buy signal on Daily. About to cross 10WeekMA for strong bullish continuation. Anytime 10Week is crossed we see bullish confirmation (weeks). Trend turned bullish on Filter Dots. Gaps to fill above in the $30's imply over 30% gains from current price. Not sure if we get this high, but bullish trend just starting today/tomorrow. SPY looking to go down soon. VIXY looking to go up. Only makes sense that GDX becomes risk on (as confirmed by the moving average proximity to current price). Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts. Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY. Short SPY and AAPL.
AMEX:GDXLong
by MoneyPatterns
6
THE WEEK AHEAD: ANF, BBY EARNINGS; XOP, EWZ, GDX, SMHIt's a short market week here, but this is what we've got ... . EARNINGS: HPE (43/33): Announces Monday after market close. ANF (85/80): Announces Tuesday before market open. BBY (70/42): Announces Tuesday before market open. HPQ (50/36): Announces Tuesday after market close DE (34/29): Announces Wednesday before market open. Of these, ANF and BBY appear most appealing from a volatility contract standpoint. The setup pictured here is an ANF 16 short straddle in the December 20th month, paying 2.87 (.72 at 25% max) versus 15.93 spot (18.0%), with the defined risk 11/16/16/21 iron fly paying 2.60 with a buying power effect of 2.40 (.65 at 25% max). The BBY December 20th 65/80 short strangle is paying 1.75 (.88 at 50% max), with the correspondent 60/65/80/85 iron condor in the same cycle paying 1.60 (.80 at 50% max). EXCHANGE-TRADED FUNDS: TLT (36/12) SLV (29/20) GLD (23/11) USO (21/33) XLE (19/20) As with last week, short duration premium selling remains less than ideal here, so either hand sit, keeping powder dry, or look to deploy in longer duration setups. Here's what's on my list for longer duration setups in which at background implied volatility is higher: XOP: January, where the at-the-money short straddle is paying 2.20 versus 21.05 spot (10.5%) EWZ: March, where the at-the-money short straddle is paying 5.12 versus 43.16 spot (11.9%) GDX: March, where the at-the-money short straddle is paying 3.14 versus 26.76 spot (11.7%) SMH: May, where the at-the-money short straddle is paying 17.95 versus 130.92 spot (13.7%) BROAD MARKET: SPY 10/13 IWM (7/16) QQQ (7/16) As with the exchange-traded funds, you're looking at either hand sitting on shorter duration setups or going out farther in time to get paid, with the expiries in which the at-the-money short straddle is paying greater than 10% in September for SPY and June for both IWM and QQQ (ugh). FUTURES: /6B (67/12) /NG (41/60) /6C (30/5) /SI (29/18) /GC (23/11) Cable I get, but what's with the Loonie? VIX/VIX DERIVATIVES: With the January, February, and March contracts trading at 16.68, 17.76, and 18.05 respectively as of Friday close, VIX term structure trades in those expiries remain viable. For all other short volatility trades, I'd wait for a VIX pop above 20 to consider starting to add short position, as well as consider taking off some risk if we see another drop back into the 2019 lows at 12. It finished Friday at 12.34 ... .
NYSE:ANF
by NaughtyPines
GDX - Watching for ReversalSmall position here for me. Watching for pattern turn right around Christmas. SPY / SPX pullback during the same period should indicate risk-on for GDX with bullish trend. Options are cheap and so is stock. Small position size until we see bullish confirmation helps to reduce risk. I suggest using stop losses. I do not personally because I feel they telegraph my orders to the algo's. I play the chart, pattern, world events, price, and sentiment. I also use Price Alerts HEAVILY instead of stop losses. Holla if anyone wants an update for GDX and I will do my best. Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts. Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY
AMEX:GDXLong
by MoneyPatterns
Target for $JNUG at different $gold spot prices $GDX $NUGT $GLDThe ascending triangle in the gold price displayed here: Has produced a double bottom and bullish XABCD pattern displayed above in pink on the $JNUG chart. A return to the recent highs will likely send $JNUG back into the $76 to $83 range. Gold is, momentarily, no longer inversely correlated with the stock market. Negative real interest rates globally and the inverse correlation with USD is now the primary driving force in the price of gold. Lower interest rates and (not QE ) QE are repricing the US dollar against major world currencies and gold:
AMEX:JNUGLong
by blloyd
Target for $NUGT at different $gold spot prices $GDX $NUGT $JNUGThe ascending triangle in the gold price displayed here: Has produced the consolidation wedge displayed in the green triangle pattern above in $NUGT. A return to the recent highs will likely send $NUGT back into the $36 to $38 range. Gold is, momentarily, no longer inversely correlated with the stock market. Negative real interest rates globally and the inverse correlation with USD is now the primary driving force in the price of gold. Lower interest rates and (not QE ) QE are repricing the US dollar against major world currencies and gold:
AMEX:NUGTLong
by blloyd