About meI've been trading leveraged ETFs and Options for a few years before deciding to start a blog and share my ideas, with the hope to build a community of traders that're passionate about swing trading.
Potential downside breakout for biotech. Still too early to confirm whether it's real or a fake, keep an eye on this one.
Entered 25% position so far, will look to add more if further confirmation appears.
GDX broke out of the recent range to the downside. Could be a potential sustained downtrend in the short term.
Entered half position in $DUST so far, however have stop loss tight and waiting for further confirmation of the breakout strength before entering remaining position.
Financials broke out of its recent range today, entered half position in $FAS and will enter the other half on tomorrow retrace if there is one.
If not, will look at how the price action plays out. More updates to follow.
Welcome back guys! Sorry for the inactivity over the last few months, personal life has been quite busy. I should be posting regularly from now on so stay tuned!
*Please see comments for supporting charts*
Gold has gone into a consolidation period after making its massive run up, we should expect to see it trading within the symmetrical triangle for the near...
Welcome back guys, sorry for disappearing for a while, I’ll be post more frequently after June!
But in the mean time… here’s what I’m looking at right now.
First, let’s acknowledge that trading gold miners have been pretty boring lately given the tight range it’s been stuck in. That’s why I was primarily day trading for the past month to avoid taking overnight...
This is a continuation of my previous post on gold miners. I would recommend checking out that post and the updates to get up to speed on the current trade.
Profits so far should be at least 15% if you’re trading leveraged ETF ($DUST). Personally at around 20% gain so far in the trade.
I plan to take profits on the entire DUST position soon since GDX is getting...
In my opinion, USD has a higher probability to breakout to the upside based on several reasons listed below. It’s also trading within an ascending triangle, and has been consolidating for the last couple of trading sessions, both of these signals are bullish to me given the economic backdrop in the US currently.
1.) Still strong US economy, based on the slew of...
Why I’m bearish on Gold and Gold Miners in the short to medium term:
All the following items provide a positive market sentiment, and a stronger willingness for investors to allocate money to risky assets such as stocks rather than safe haven assets like gold, and therefore selling of gold miners.
1.) Still strong US economy, based on the slew of positive...
Gold breaks through strong support region, pushed down by positive macro news flow as predicted in my previous post. This completes the descending triangle pattern, was a reversal
The support region marked could be changed based on more news flow, will be updated regularly.
1.) More positive earnings surprises will likely follow
2.) Positive trade news is more...
This was posted on my blog at gdxdaily.com last night, be sure to follow it to get notified first of any new trade ideas! The ideas will also be explained more in detail on the blog.
Given recent macro updates I believe the short to medium term outlook for gold miners is starting to look bearish, this is due to multiple factors that will likely...
This is a continued trade based on my previous post. This was posted on my blog yesterday night
We have a big week ahead of us with potential updates on several important political event, along with some important economic data being released throughout the week. The news that we should keep our eyes on are updates on the trade deal, and vote outcomes of the...
Gold falls as US dollar rises, accompanied by an across the curve rise in yields. Today’s macro news was relatively light with GDP data coming in slightly lower at 2.2% vs 2.4% expected, and initial jobless claims 211K vs 225K expected. There was a new piece of trade news indicating that China is willing to give the US more access to its domestic cloud-computing...
Gold miners have seen decoupled correlation with gold prices over the last couple trading sessions; while showing more correlation with broad equity market movements. SP:SPX just broke a key resistance level with heavy volume, meaning bullish moment in the short term. I believe this will help push AMEX:GDX upwards in the short term towards it's recent peak.
SPY has temporarily found support, however all macro news has driven investor sentiment towards a "risk off" mood. Without significant positive news flow, SPY could be forming a cup and handle patter. If so, it should be dropping to test the 263 area.
Bullish Catalysts and Indicators:
1.) Support tested multiple times on all time frames 4hrs and below
1.) Lower global growth projections and limited monetary policy flexibility (rates already low/negative)
2.) Potential Head and Shoulder pattern completion on S&P
3.) China trade deal hype has been bought and priced in
4.) USD showed strength, but gold prices remain supported. Indicating buyers are coming into the market.
5.) 2, 5, 10 yr yields are...