... 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.
Pour yourself a glass of Goldschläger and let's review the 12 steps before diving into this. 1. We admitted that we were powerless over the Fed -- that our balance sheet had become unmanageable. 2. Came to believe that a Power greater than our central bank could restore us to solvency. 3. Made a decision to turn our fiat over to the care of sound money, as we...
The war against sound money... keeping a "lid" on the price of the worlds biggest asset and truly the only real collateral in the world. Is being slowly lost. We have a continuation head and shoulders that many people are watching. But something to note Is that the previous times #Gold has traded above 2 thousand dollars The smackdown has been quick and...
... 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...
Gold has tested the $2000 area twice and failed. If it makes new all time highs, above 2050-2070, it could easily run to 3k. One of the few spots of strength in the market along with bitcoin since the Silvergate&SVB triggered banking crisis. Out of position on a weekly close under 1750.
... 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...
Gold miners have shown relative weakness to the metals since topping in 2020, and that looks likely to continue in the near term. However, when this consolidation completes, the mining stocks should once again shine and starts catching up, potentially in the next couple of months. For this reason, the time has come to keep this group on your watch list as a...
TVC:GOLD chart mapping/analysis. Gold's massive (algo-triggered) blow-off top killed the bullish momentum - pending further selling pressure if DXY/bond yields decide to rally into end of the year.. Trading scenarios into EOY: Selling pressure towards 50% Fib initial support zone. Bearish EOY capitulation target = Golden Pocket support zone. Expect any...
Gold made a brief New All time high before getting smashed down. This is the largest Daily Bearish engulfing candle gold has ever had.
Gold achieved a historic milestone with a record monthly close in November 2023. For gold bulls, the next crucial step is the formation of a bullish consolidation, potentially leading to a bull flag pattern on the weekly chart. However, the path ahead is not without challenges, as indicated by the significant resistance levels depicted by the blue lines on the...
AMEX:GDX Bull Flag Breakout, now AMEX:GDX target price around 34-35
Gold is up an even 10% year to date. The precious metal has frustrated bulls at times in 2023 but falling real interest rates over the past several weeks have undoubtedly been a boon. While it’s encouraging to see spot gold climb above the $2000 per ounce mark, I see potential upside in the VanEck Gold Miners ETF (GDX). Notice in the chart that the portfolio of...
The AMEX:GDX , a notable gold miners ETF, is currently displaying a Bull Flag formation, indicating a potential breakout on the horizon. My perspective remains that we are on the cusp of a significant breakout, one that could not only impact the gold market substantially but also trigger an even larger movement in mining stocks. Admittedly, I've held this view...
IF you had been following the series of The Gold Odyssey, you would know how well the probabilities are in the analyses. To the point, Gold is ready to break its almost three year consolidation (huge) range. 1. You can see the powerful reversal off the mid-range support; 2. The candles show and project good momentum to follow through; 3. A trend line breakout...
AMEX:GDX Trend Line Break, echnical breakout in the chart of AMEX:GDX , which is an ETF that tracks the performance of companies involved in the gold mining industry. A "Down Trend Line Break" to the upside is typically seen as a bullish signal in technical analysis. It indicates that the security in question, in this case AMEX:GDX , has broken through a...
SSR Mining Inc. is a leading, free cash flow focused gold company with four producing operations located in the USA, Türkiye, Canada, and Argentina. They produce over 700,000 oz of gold a year. Friday had a bullish engulfing candle I see a target price of $14.30 , where there is resistance. War news again this weekend will push oil and gold up again. Good luck traders
As long as the price holds recent Oct lows, I will continue to expect it to move towards next important resistance area: 31-35-38. Afterwards it would be ideal for price to consolidate and form a handle part of the cup with later break out above 35 pivot to confirm its intentions to move to next important resistance areas: 43-48-52 Short-term trading...
It's Friday ... the 13th. Here's what's shakin' in exchange-traded fund premium selling ... . Top 5 Options Liquid ETF's Ranked by 30-Day IV: TQQQ 22.9 IVR/60.4 IV GDXJ 23.6/38.9 USO 46.4/38.8 GDX 26.0/33.6 FXI 14.8/31.4 Ideally, you want to have IVR at >50 and IV at >35% in ETF premium-selling land, but you can't have everything in this market ... . Broad...