Category: Updates

CLOSING UPDATE

Mon, 25 Feb 2019

  The one-hour chart of April gold is crawling along the flattening 200-period MA. Crawl patterns typically break lower, often suddenly. For that reason, I added to DUST today at $17.55. Currently, it looks like metals and miners are inching closer to a breakdown. The crawl pattern in the above chart supports a dip to […]

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TRADING POSITIONS UPDATE 3:12 PM

Mon, 25 Feb 2019

  The one-hour chart of April gold is back down testing the 200-period Moving Average. I don’t know how many more times gold can test that level before there is a failure. I was stopped out of the NUGT trade with a profit just below $21.72. The USLV position has an active stop remaing just […]

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MORNING UPDATE

Mon, 25 Feb 2019

  We have a divergence between gold and miners on their intraday 1-hour chart. Gold is trending slightly higher while miners are down.   GOLD 1-HOUR GDX 1-HOUR It’s unclear how this will resolve; one is likely to play catchup into the close. Meaning, gold will either begin dropping with miners or miners will reverse […]

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MORNING NOTE 9:05 AM

Mon, 25 Feb 2019

  April gold slipped back to test the 200-period MA at $1327.30 this morning before bouncing. To support another attempt at $1350 prices would have to recapture the $1340 level convincingly. Slipping below $1323 would likely trigger another wave of selling. Same with silver. Below the 200-period on the 1-hour chart would support a breakdown. […]

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AFTERNOON UPDATE 1:30 PM

Fri, 22 Feb 2019

    Gold found support and bounced off the 200-period MA on the 1-hour chart. Prices would have to retake the prior breakdown area between $1340 – $1345 to have another chance at $1350. Silver also found support at its 200-period MA. It needs a decisive move above $16.00 to make another run at $16.20+. […]

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MORNING NOTE 8:50 AM

Fri, 22 Feb 2019

  Gold (April) is holding around $1328, and silver is staging near $15.80. There is no clear direction at the moment. Gold would have to retake $1330 decisively intraday to support a rally attempt. Declining below $1320 could trigger another wave of selling. Support for silver remains around $15.70, below that and prices could tumble. […]

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NEW TRADE ALERT 3:12 PM (DUST HEDGE)

Thu, 21 Feb 2019

  I’m going to take a position in DUST here and keep my intra-day stop on NUGT as previously posted. Stop on DUST below yesterday’s $15.75 swing. I wanted to update real quick before I get on the road. The new app will be nice – I’ll be able to alert members via the push […]

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RAISE STOPS FOR USLV AND NUGT 1:55 PM

Thu, 21 Feb 2019

  INTRADAY STOPS FOR NUGT AND USLV I have a can’t miss meeting this afternoon and won’t be able to post if precious metals start slipping. I’m placing these stops just in case they break quickly lower this afternoon.   -NUGT- Afternoon stop (at market price) on NUGT to trigger below $21.72. -USLV- On USLV […]

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QUICK NOTE 12:54 PM

Thu, 21 Feb 2019

  The Noon selloff below $1330 in April gold could be one of two things. 1) It could be the beginning of a sharp selloff later this week. 2) It’s a low-volume manipulation to shake out bulls before higher prices. Today’s close and Tomorrow Morning’s price action will tell us which scenario. If prices start […]

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