Short-term Trading Tactics
As someone still learning how to trade better (I hope I never stop learning), I wanted to lay out my thought process for re-entering the GDXJ ETF from the long side over the next week. The following is what I expect to happen, and I will re-adjust if the market doesn’t give me what I expect. I am interested in scaling back into in-the-money long call options on GDXJ with an August expiration.
I took profits on May expiration GDXJ 25 strike price calls on Friday, April 9th and am waiting for a slightly lower GDXJ price before I start buying back into GDXJ calls. Here’s a short-term chart of GDXJ over the past 4 months thru today’s close using a 60 minute intraday chart with my thoughts:
So, my plan is to start scaling back into GDXJ once we hit 27 and buy it down thru 26.50. Of course, with the volatility of Gold stocks we could spike down to 26 pretty easily, especially since there are a few smaller gaps in the 26 range and a drop to this level would scare many into thinking the trend may have changed. Unlike many, however, I believe we will then rocket launch higher into the late spring. I believe Gold is going to re-test its highs and will then surpass them (though it may need a rest at the highs before blasting thru them). I also believe silver will likely outperform Gold on the next short-term leg higher and is also set to re-test its highs for the current secular bull market.
The ongoing short-term correction that began at the highs on April 9th and 12th I expect to complete sometime between tomorrow and next Tuesday. This is just a short-term correction in my view before re-testing the December 2009 highs. I remain wildly bullish on the Gold patch and my outlook still hasn’t changed. Just my 2 cents. Traders, place yer bets…
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,811,096,604 |
| Stories: | 8,652,072 |
Whistler Blowers, Insiders
