Just listened to a great interview on the Market Huddle podcast feat. Michael A. Gayed from the Lead / Lag report. Great interview!
So one of his leading indicators discussed was the LBS/GLD ratio and it actually correlates quite well. Although it predicted the 2018 Christmas crash much more distinctly (with a slight trend break down to the trend line false...
FEAR OF INFLATION? Gold continues to RISE! HARD ASSETS (gold / silver) ARE CONSIDERED AN INFLATION HEDGE AGAINST SOFT ASSETS (stocks).
Stocks have been at ATHs and there are signs that tell me that the FED will come in to put the breaks on the economy. By doing so they will
start to raise interest rates soon. Rate spike = Bonds drop = yield spike = people...
Starting in September of 2011 and the handle starting here on Aug 2020.
selling volume has declined and got a strong bounce off the 158.85 mark and look to be heading up for our third tap or our handle downtrend
When a bullish move occurs the moving averages respond, and the 9MA (white line) on the weekly has curled up nicely with a implied EMA cross over the 50...
Stochastic Momemtum Index - a true strength indix tsi with a moving average signal.
This uses the built in with modifications per Anne-Marie Baiynds recommendations - she uses a SIMPLE MOVING AVERAGE
for the signal (signal length at 4x the short length seems to work best to reflect actual price action support or resistance)
see a YouTube vid (Note: settings in...
Programmers are artisans—not scientists. Our code must work, yet good code is not only tested and functional; it is a pleasure to read. Good code is that which others can learn from and enjoy the most. It is beautiful. It oozes the care that went into each line, leaving only those with unassailable purpose. Good code is whole; lines cannot be removed without...
In a world of billions and billions have been created by digital technology only, without real assets to back it up, Gold seems to be a sensible hedge. Technically it is forming a buyable bottom, with a target of $180.
The weekly chart of gold is a giant cup and handle, looking extremely bullish. There is a double bottom that printed on the shorter term charts which is a good sign. Everyone hates gold right now which is a good sign it bottomed, similar to BTC at the 3k levels last bear market. Money printing is still continuing at a rapid rate so it's just a matter of time...
If Gold continues its uptrend next week, I think the breakout will be in motion. Otherwise, Gold will continue to be squashed for another few months or so.
What is interesting is what Gold rising will mean for other assets and the macro environment in general.
Currently, gold actually does tend to rise with stocks since its a bet on yields staying low
... for a .48/contract debit.
Notes: Decided to take profit here on this little up move, rather than hang out in the trade another 18 days, particularly since I collected a total of 3.97 in credits and rolled down and out on strike test. (See Post Below). 3.97 - .48 = 3.49 ($349) profit/contract. Will consider re-upping on a dip back to the 157 level (March...
... for a .26/contract debit.
Notes: In for 1.38/contract (See Post Below); out for .26 here; 1.12 ($112)/contract credit with 74 days to go. No sense in waiting another two months for the remaining $26 to come in.
... for a .20/contract debit.
Notes: In for a 1.88/contract credit (See Post Below), out for .20 here. 1.68 ($168) profit/contract with 49 days to go. No sense in hanging out another 49 days for $20 relative to the BP this is tying up.
... for a .17/contract debit.
Notes: Pre-vacation profit-taking/cleanup. In for 1.62/contract (See Post Below), out for .17 here; 1.45 ($145) profit/contract. Will re-up if we get weakness back to 155 or below. Still have May 163's, June 149's, and July 145's.
Gold assets have fallen out of favor in recent months and the price is well off its highs. Price closed above a significant level that acted as resistance back in April and May of 2020 and the same level acted as support in November 2020.
GLD double bottomed in March at the $157 level and trended up since then.
With the RSI in check, MACD positive and the...
the new bull structure in gold has begun, by evidence the GDX a little over cooked in the short term, but I'm liking the GLD for a nice stable long run up ~20% by November 2021. Sure, it might take a breather if there's some return to sanity in markets, etc, but this one is great for an easy night's rest while markets puke their brains out for a couple months.
Generally speaking, I'm a premium seller, taking advantage of high implied volatility to sell options to take a position in an underlying without actually getting into shares of stock. GLD, however, isn't particularly known for its volatility and therefore isn't the greatest standalone premium selling play. As of the writing of this post, 30-day implied is at...
SMA13/50 as support
OBV Crossed OBV SMA34
W%R crossed -50
I am not a PRO trader. I trade option to test my trading plan with small cost.
The max Risk of each plan is less than 1% of my account.
If you like this idea, please use SIM/Demo account to try it.