Looks to me the market is stalling up here. Vol not good and with high rates bad for tech staying short TNA Long SQQQ Long GDX
A inverse #HVF appears to be in progress on the #GDX @TheCryptoSniper Coincides with a probability that gold has put in a major secular top being pushed down by positive real rate environment.
Short Term Elliott Wave View on GDX suggests that rally to 35.74 ended wave 3 on April 12, 2024. From there, the ETF pullback as a double three Elliott Wave structure. Down from wave 3, wave (a) ended at 33.44 and wave (b) ended at 34.35. Wave (c) lower ended at 32.43 which completed wave ((w)). The ETF then rallied in wave ((x)) as as a double three structure in...
... for a 28.24 debit. Comments: GDX (IVR/IV 40.8/ 32.9) is at the top of my IV screener for ETF's (along with GDXJ, which has higher IV, but is less liquid). Buying stock and selling the -71 delta call against, resulting in a max profit potential of .76 ($76)/contract; 2.69% ROC at max; 1.35% at 50% max. That .76 isn't massively compelling, but the ROC is...
... for a 21.01 debit. Comments: There isn't much that is weak in this market ... . Adding a rung to my GDX position out in August at a strike lower than what I currently have on. (See Posts Below). .99 max on BPE of 21.01; 4.7% ROC at max; 2.4% at 50% max.
GDX Gold miners are finally showing some short term momentum, still range bound, looks promising for a long term if convincingly break the range
Short Term Elliott Wave view in Gold Miners ETF (GDX) suggests rally from 2.29.2024 low is in progress as a 5 waves impulse structure. Up from 2.29.2024 low, wave ((i)) ended at 30.48 and pullback in wave ((ii)) ended at 28.91. Internal subdivision of wave ((ii)) unfolded as a zigzag structure. Down from wave ((i)), wave (a) ended at 29.71 and wave (b) ended at...
Miners are a confirmed buy on harmonics. SSTIS is a confirmed buy with a bull surge signal. 2D MV chart is a confirmed buy. 2D MV faekout chart is a confirmed sell with a fake bull setup. SVT will sell its remaining miners long position today and will be full on cash on this bucket.
A quick update on my thoughts on GDX ... A leading diagonal (1) followed by a flat (2), with wave (2) retracing 0.618 of wave (1) We should see a wave (3) occurring .....
Miners are a confirmed buy on harmonics. SSTIS is a short-term buy with a longer-term sell signal and a fake bear. 2D MV chart is a short-term sell with a longer-term buy signal. MVMF-H signals declining bullish internals. 2D MV fakeout chart signals a fake bear.
Miners are a short-term sell with a longer-term buy signal on harmonics. SSTIS is a short-term buy with a longer-term sell signal and a fake bull. 2D MV fakeout chart signals a short-term sell with a longer-term buy signal and an elevated sell signal on SBV while buy signal is going downwards. MVMF-H signals quick decline of the bullish bets. There's a chance that...
... for a 26.21 debit. Comments: 42.2 IV/32.8% 30-day IV. Before I went to take a nap, added a "rung" on weakness here to my position, buying a one lot and selling a -75 call against. I already have a February monied on (See Post Below), so went out to March for this setup. The call IV at the 27 strike: 37.32%. The put side at the same strike: 29.49% with...
It is time to consider being LONG Gold Miners / SHORT Gold. The chart speaks for itself. The ratio is not at absolute low however below the low of 2008 and within the low area There is a 4 years cycle 2008-12-16-20-24 alternating low and high. Final low is expected this year. After which the ratio will rise up until 2028. Should 24 be challenged (supported...
Have been tracking Gold and the Gold miners ETF GDX... It has been a while and it appears that Gold and GDX are at least in sync again. GDX appears to have closed the week above the long term range and just broke out, if not about to... MACD and VolDiv have not yet crossed over but indications show. The TD Setup is still showing primary bullish and a new Setup is...
... for a 22.83 debit. Comments: Selling the -75 call against a one lot here out in June where I have covered calls at the 29, 27, and now 24 strikes. 1.17 max on BPE of 22.83; 5.12% ROC at max; 2.56% at 50% max. Going monied CC here in lieu of an equivalently delta'd short put to take advantage of call side IV skew (39.6% on the call side; 29.18% on the put...
Miners are a confirmed buy on harmonics. SSTIS is a confirmed buy with a bull surge, 2D MV chart is a confirmed buy with a confirmed MVO bull surge. As both gold and equities are on an ATH position, miners have a strong tailwind upside. When dollar will make its decisive move upwards, we should see 3-5% of daily jumps.