... and the junior miners will not be an exception too... If the sector is going down the juniors will drop too. We have the same indicator divergences: GDXJ was underperforming in this intermediate cycle. While GDX almost tagged the 2016 highs GDXJ was not even close to it.
A key consideration usually in any Asset is the correlations. Precious metals - XAUUSD (gold) / SILVER have a perfect inverse correlation to the dollar index. I will leave it on the reader to plot it. HINT: Plot XAUUSD and COMPARE with (1/DXY). It's difficult (with all the Fake News) to decipher if Gold will have great demand going further or not. Commodities...
I said silver (SLV) was going to rise but it honestly has shocked even me. Lately it had the momentum of a runaway train and even started going exponential with several gaps up it now has to fill, but when it blew past the second blue top line (a long term overhead resistance going back to 2015 if you can believe it) I was truly shocked. I sold a lot of positions...
Gold/miners to pull back? Long term bullish but a correction should be welcomed by bulls $gdx $gdxj $nugt $dust $jnug $jdst
EARNINGS No options highly liquid underlying earnings announcements this coming week. EXCHANGE-TRADED FUNDS Ordered by implied volatility rank, with GDX, GDXJ, and XOP providing the best rank/implied volatility metrics for premium selling (>50% rank/>35% implied): SLV (96/29) GLD (95/18) GDX (82/35) GDXJ (80/40) TLT (69/16) FXI (54/26) XOP (52/43) The 16...
Gold/silver ratio just formed Bearish Shark pattern! Silver will be the new king.
EARNINGS BIDU (97/55) announces earnings on Monday after market close, so look to put on a play in the waning hours of the New York session ... . Pictured here is a September 80/120 short strangle paying 1.65 as of Friday close with delta/theta metrics of 1.57/8.07. You can naturally go defined risk, but you'll have to go in a smidge tighter with the shorts to...
About to enter into pessimistic area again within the next two weeks $GDX, $GLD, $GC_F
Gold 3 day chart at top of ascending channel and at the intersection of horizontal resistance channel.
Gold's 6 year long backtest is nearing an end. JNUG/JDST likely to reverse and reconverge at mean.
Simple study highlighting 4 year long ascending channel. Price currently at top of channel. Indicators converging at top.
EARNINGS: M (87/58) announces earnings this week and has the most appropriate rank/implied volatility metrics for a contraction play. Pictured here is a narrow short strangle in the September monthly that is almost a short straddle, set up this way primarily because M is trading at 19.43, which Is smack dab in the middle of the short strikes. It's paying 2.25...
This has all the earmarks of a backtest. Should history repeat it is destined to fail.
Gold is working a continuation triangle, implying a move higher. At this point spike to 1550 is likely, but I still think we're due for some sorta temporary top
A real quick and dirty here between checking off items on the honey-do list ... . Here's the cream of the crop: ROKU (83/94) announces earnings on Wednesday after market close and with rank/implied greater than 70/50, it's an ideal play for volatility contraction post-announcement. The pictured setup is a September 20th 75/80/135/140 iron condor, paying 1.67 at...
EARNINGS On initial screen for high rank/high implied, here are next week's potential winners for earnings-related volatility contraction plays: AAPL (31/27) (Tuesday after market close), X (52/54) (Thursday after market close), GILD (30/27) (Tuesday after market close), and BIDU (50/41) (Tuesday, but unspecified as to before or after market close). Because...
Sold a strangle on $GDXJ today for a buck at around the 1SD range. 20 SEP 19 48/35 CALL/PUT Has 94% IVR, and 1.24x the year average HV, The IV is 38% which is about the same as GE stock right now. I may exit the trade early if I collect over half the credit or if IVR remains high enough that I can roll to the next month with about 20 days left to expiry....