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And there goes my bounce. SH!T.
Miners hanging in there but gold chart doesn't look well now. Probably aiming at $1240 or even $1220. I'm selling on any bounce here. I'm really not sure how this plays out.
This is probably the single biggest move in gold since Trump got elected.
This is interesting. Gold is down 2% and miners are 2% and 1.5%(minors) down. I would expect miners to be down 5-7% right now.
If someone wanted to scare people out of this market they did a great job. I'm scared.
Nah, it's just weazel is on vacation(?) and I don't bother with posting charts anymore :)
NUGT leading JNUG on the way down. That's a new thing.
And I sold my shares before FED meeting just to get crushed today... I have no idea why gold is going down right now.
WTF just happened?
Congrats to those who caught the bottom yesterday. I joined JNUG $14.3 today. Let's rock!
The range is so tight right now I don't even care to trade. I'm curious about tomorrow, though.
I'm all out. I won't be taking chances into FOMC meeting.
I'll probably sell everything today. I've found that keeping half of the shares at all times and flipping the other half almost every day gives me the best returns and guards against surprises.
We'll probably see the last short-term flush next Wednesday and then another march towards $1400.
Green trades everyone!
So I wonder, we're going to wait for the FOMC meeting before it takes any direction?
Added $13.6 JNUG. I have now full position, avg. $13.86. Today is probably the moment of truth for the following weeks.
AHAHAHA, you can ALWAYS count on US traders...
Congrats! You added at a great price yesterday and I would take the profit too. I bought some other stock with the money I intended to average down and I'm only slightly green ATM.
I would sell half of my JNUG shares at that spike today but, obviously, I was taking a nap when that happened :D.
If gold price won't raise a few dollars soon, prepare for a slam in miners EOD.
Makes perfect sense to sell gold now... smh
Wow, something just happened. DXY up 0.40% and gold up 0.50% out of nowhere.
DXY went back to Dec 2017 pre-hike level but gold is still some $50-60 higher than it was back then. Not sure whether this is good or bad.
1/2 position at $14.4 JNUG, even though I think it's going lower.
Same here. Like I said, this scenario plays out 90% of the time gold and miners spike on geopolitical news.
DXY higher, gold higher. If Powell doesn't destroy this, I'm back in miners.
https://www.zerohedge.com/news/2018-05-24/north-korea-comes-crawling-back-stresses-desperate-need-summit-whenever-however
That's why I always sell the spikes caused by geopolitical events. I hope to buy back my shares and then some at lower prices.
Powell speaks today, 10 minutes before US market opens.
Phew, gold climbed back above $1285. Let's see it from now. Supposedly, the agreement on trade imbalances between USA and China should be bearish for gold. I think it's just a noise and still holding my JNUG shares.
The dollar is still rockin'. This isn't going to be a good day for us probably.
I use the same chart with exactly the same trendlines when deciding when to buy/sell miners. And GDX/GDXJ charts too, of course :)
No problem, I averaged JNUG down to 14.05. Spot gold just bounced off of a trendline that connects 2016 Dec low and 2017 Dec low. If it fails to hold then the next strong support is around $1235. I'd be happy to see $1340 soon :)
Provided you're getting paid in USD. In my currency gold is now more expensive than it was in April. I bought some coins then :)
If spot gold closes below $1285 I bail...
And I have my answer. In JNUG $14.4, 1/2 position.
Gold again at 200 daily MA. We'll see if it gives some support or if it was about $1302 level lately. I'll probably buy some miners today.
Congrats! DXY is tanking beautifully. Now I regret even more I missed my chance yesterday.
When miners lead gold, that's when you get the power moves though...
PS- what I DO really hate though...is when NUGT is 5x or more GDX to the downside, but not the upside (see today). Grrr...