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I don't like when miners are stronger than gold. It usually doesn't last long. On daily and weekly GDX is still almost exactly in the middle of BB so I'm not taking any big bets.
On the other hand DXY is OB on daily for over a week now but we know gold-DXY correlation is tricky.
Damn, I missed my chance to reload PM. Wanted to get JNUG below $14.5 as gold was lower than yesterday. Oh well, we'll see how situation develops today.
I'm out. 3% in my pocket. Probably should've stayed given the circumstances but fortunately, I have other promising trades. Good luck, folks!
I am aware of all the hypocrisy involved but anyway Rohani said that Iran will "firmly react" if USA withdraws from the deal. That's why I'm wondering what they're going to do.
Starts promising. DXY is tanking but for now nothing spectacular.
EDIT: ...and now it rebounds...
EDIT2: So now, what's Iran going to do?
I'm with you there. In JNUG $14.55, will add @ $14 if it gets that low.
Maybe tomorrow we'll get some action:
I will be announcing my decision on the Iran Deal tomorrow from the White House at 2:00pm.
— Donald J. Trump (@realDonaldTrump) May 7, 2018
And that's exactly what I'm trading. Easy money so far.
Too boring. I'm out and will look for a better entry next week. Have a nice weekend, folks!
Just looking at this week yeah but on daily (and weekly!) GDX is right in the middle of its BB. Not a great place for entry but I bought JNUG for $14.05 lately and managed to flip $15.25 -> $14.8 yesterday, so I'm willing to take a bet it goes (a little bit) higher. GDXJ channel is even tighter than the one on GDX.
Neither do I. Just watching gold & GDX bumping from one trendline to the other and trading what I can.
It's all about DXY right now. Not much happening with gold other than responding to US$ moves.
$1280 is not that far from 200dma and gold stopped right there yesterday. I've bought some miners two days ago but didn't capitalize on the move yesterday. Nevertheless, I'm not selling, miners are strong again and I see a bigger opportunity to the upside.
I'm in JNUG right now, not NUGT. Half position, in case gold goes to $1280.
FOMC notes on Wednesday. I'm not saying gold goes down because of that but it usually does.
Payrolls lower, unemployment higher. Gold gained a few $ instantly but will it continue climbing?
Trade war between USA and China. Good for gold, not such much for equities.
Trade war between USA and China. Good for gold, not such much for equities.
Looks like triple top in gold on daily. Not good.
What I'd like to know is whether gold goes lower from where it is now before it goes higher. We all know it USUALLY gains significantly after rate hikes. My guess would be gold testing ~$1300 once again and then reverting. I'll probably sell miners shortly and see what happens.
No surprises in CPI whatsoever.
Tomorrow CPI data. Usually important before FOMC meeting. Not sure how much this time. I'm not paying as much attention lately as I used to.
We're 2 weeks away from FOMC meeting. Gold often loses prior to rate hike decision. We'll see how it's gonna be this time.
You're obviously not taking splits into account. Since inception all of those funds lost ~99%, not less.
Except, these numbers are wrong. All of the funds lost at least 95% since 2014 ;)
This is very, very, very nice :)
Everything is going down right now. Another liquidity crash coming? Only gold holds ground.
I agree. Yesterday's "bounce" was a joke. More pain coming.
Oh boy...isn't this fun? We've got the "ra-ra" crowd coming in...LOL
Yeah, I just did that and also a line through most lows in 2017. Also gold almost hit 50dma. That's some support.
I'm not loading the boat, just hoping to get a good entry for a bounce.
$21 in GDX in ~3.6% below yesterday's close. I would love to see it dropping there soon after open.
We're still riding down but it's getting ready for a bounce (at least).
Spot gold $1306 low so far. GDX almost hitting the lower bound of the channel. I'm loading NUGT today. Just entry.
I don't want to short it from here. I'll start loading NUGT when gold gets near $1300 as planned.
I agree. That's why I cuddled the profit on that spike in JDST. That's it for today. We'll see what tomorrow brings. Have a nice afternoon! I'll hit the bed now.
XIV will close on Feb 20th at $4.22 - its termination value - but between then and now, who knows!
Out JDST $61.9. 10% of my XIV loss regained. 90% to go :). Looking to reload lower.