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JNUG is just a leveraged ETF that follows GNXJ index. It would be useful if you could analyses them together. IMO.
And "just an observer" immediately registered with iHub and posted his first message to defend this loser.
"Janet L. Yellen, the Federal Reserve chairwoman, said Friday that the Fed was likely to raise its benchmark interest rate this month, barring any unpleasant economic surprises."
https://www.nytimes.com/2017/03/03/business/economy/federal-reserve-interest-rates.html
No one knows, it's anybody's guess. I expect it will start down on Monday. First, they routinely suppress gold price during/after weekends. Second, I believe GDXJ needs to retest 33.5-34 support before it can run.
I did sell 9-11.5 calls for this and next Friday, but with this kind of crash it doesn't help much. Have done some successful flipping and... still in the red. Big moves like this is traders paradise. And I missed most of it yesterday.
Oh, I see. The initial question was about GDX, so I didn't pay attention.
Have you done similar estimates for GDXJ or JNUG?
Isn't this a pinch on JNUG intraday chart?
And this is what Trump means by "we don’t have the gold":
US Mint Releases New Fort Knox “Audit Documentation”. The First Critical Observations.
https://www.bullionstar.com/blogs/koos-jansen/us-mint-releases-new-fort-knox-audit-documentation-the-first-critical-observations/
My major disagreement with the author... he writes:
Trump has been misled to believe that “we don’t have the gold. Other places have the gold.” In fact, the United States, Germany, and the IMF together have about as much gold as the rest of the world combined and America has well more than Germany and the IMF combined.
I am rather in Trump camp on this: "we don’t have the gold". So, what would you do if you are powerful, you don't have gold and want to own it? Maybe you would try to suppress gold price and accumulate it cheap? That is also my suspicion about China policy: suppress & accumulate. China needs strong dollar and weak gold - to sell US Treasury bonds and buy bullion.
President Trump: Replace The Dollar With Gold As The Global Currency To Make America Great Again
https://www.forbes.com/sites/ralphbenko/2017/02/25/president-trump-replace-the-dollar-with-gold-as-the-global-currency-to-make-america-great-again/
President Trump: Replace The Dollar With Gold As The Global Currency To Make America Great Again
https://www.forbes.com/sites/ralphbenko/2017/02/25/president-trump-replace-the-dollar-with-gold-as-the-global-currency-to-make-america-great-again/
Jim Rickards: China Disaster to Trigger Gold Run, Trump to Appoint 5 of 7 Fed Governors
http://goldsilverworlds.com/gold-silver-experts/jim-rickards-china-disaster-trigger-gold-run-trump-appoint-5-7-fed-governors/
Finally we agree with you: United States were one of guarantors of Ukrainian sovereignty and should act in this direction. "Weak Obama" blocked all efforts of Congress to give Ukraine lethal weapon. Maybe "strong Trump" will be forced to do this. My last post in this thread (while Cork is patient). You can have the last word.
"the Crimea was an autonomous region of the Ukraine that was annex from Russia in 1957 or there about"
You guys really need to do some research. Can California "annex" some territory from Nevada? It's ridiculous. "Russia" and "Ukraine" were parts of the same State - Soviet Union at that time. The Crimea went to Ukraine according to the Federal Law (issued by Khrushchev) and this was reflected in Soviet Constitution. But, as I said, this doesn't matter anyway. Today's Russia officially recognized Ukrainian sovereignty over Crimea in multiple International Treaties. And Putin himself signed some of those agreements. They used revolutionary situation in neighboring country to steel part of its territory and start the war in South-East. It's similar to Allied intervention during the Russian civil war, when former "friends" in WW1 (Czechoslovakia, Britain, France, and United States) tried to take some Russian territories using after-revolutionary chaos in Russia.
Are you serious? America was used by Indians. Alaska belonged to Russia, and California, Texas, and other States belonged to Mexico. So what? Are you familiar with such a thing as internationally recognized borders, and international treaties? Russia has signed multiple agreements, including "Treaty of Friendship" with Ukraine, where it recognized Ukrainian borders and Ukrainian ownership over Crimea. Potemkin's Russia ceased to exist in 1917. Your logic is really funny.
Russia had Navy port in Crimea due to the rent agreement signed with Ukraine (Kharkiv Pact). It's rented till 2042. So, legally Crimea and Sevastopol belong to Ukraine, and Navy port in Sevastopol is just rented by Russia. Of course, after Russian aggression even this rental agreement is broken. Nobody really expects that Russia will give occupied Crimea back. According to Russian laws it's a crime even discuss this. But, on the other hand, nobody really expected that Germany would give pack Silesia, Austria, and other occupied "German" territories.
Does Virginia belong to another country and we just rent Navel Station over there?
Euro to COLLAPSE – people rush to buy gold as trust in single currency DISAPPEARS
THE former head of the US federal reserve has warned the euro is on the verge of collapse saying he has "grave concerns" about its future.
And revered economist Alan Greenspan says it's time the European Central Bank (ECB) came clean about the state of the economy as the bank's chief Mario Draghi scrambles to save the flailing institution.
...
Mr Greenspan, 90, was the chairman of the Federal Reserve of the United States from 1987 to 2006, and predicted the scale of the US subprime mortgage scandal which precipitated the global financial collapse.
Now as investors turn to gold to try to stem their losses Mr Greenspan says it's only a matter of time before the eurozone collapses.
He told Gold Investor magazine: "The European Central Bank (ECB) has greater problems than the Federal Reserve.
...
"I have grave concerns about the future of the Euro itself.
...
Mr Greenspan says that investors are back to safe havens including precious metals because there is no trust in the banking system.
And he said countries cannot continue to borrow in the way that they have been signalling that quantitative easing is not working.
He added: "I view gold as the primary global currency.
"Today, going back on to the gold standard would be perceived as an act of desperation. "But if the gold standard were in place today we would not have reached the situation in which we now find ourselves.
"We cannot afford to spend on infrastructure in the way that we should."
http://www.express.co.uk/news/uk/769288/Gold-Euro-Foreign-Exchange-Collapse-Alan-Greenspan
$60 spent today. Awakening or attempt of one bagholder to demonstrate that the stock is still alive? It was not your purchase, right?
You can get filled at the mid point if the price moves, and it becomes the bid. I often place combined limit order: buy shares/sell calls it often gets filled "in the middle" both for shares and options. I try to sell only next week calls. And "the secret" is to sell them early (previous Friday or following Monday). After that the price of calls can fall fast, and you have options to let them expire, buy back, or roll to the next week. The main challenge here: you keep watching people reporting double, triple, etc. gains while you have to enjoy your usual 5-10%. Of course, when they have double, triple, etc. loss you sleep better than ever.
That's exactly what I do every week selling "near the money" calls. Have to admit: my shares get called more often lately. For example, tomorrow big part of my JNUG position is covered by 12-calls, and likely to be called away. Still, this pretty conservative strategy gives you 5-10% a week.I don't compound those gains, just transfer them to my bank account. Still not bad at all. IMO.
EU Escalates War on Cash: Will Gold and Silver Be in Crosshairs Next?
http://www.commoditytrademantra.com/gold-trading-news/eu-escalates-war-on-cash-will-gold-and-silver-be-in-crosshairs-next/
http://ec.europa.eu/smart-regulation/roadmaps/docs/plan_2016_028_cash_restrictions_en.pdf
You can't play both sides with Russia... This week members of Trump team claimed that "US President Donald Trump expects Russia to "return Crimea" to Ukraine". In response Putin's spokesman Peskov said that "Russia is unwilling to consider returning Crimea to Kiev and won't debate the matter with anyone, including the US". Moreover, he struck back and confirmed that Trump aides were in constant touch with senior Russian officials during campaign. It's just a first warning to Trump: "if you don't obey we will start talking".
https://sputniknews.com/politics/201702151050697833-kremlin-russia-crimea-us/
http://www.cnn.com/2017/02/14/politics/donald-trump-aides-russians-campaign/
Good explanation of Leveraged ETF Decay (read also interesting comments to the article):
http://seekingalpha.com/article/1457061-how-to-beat-leveraged-etf-decay
Some options strategies can help to make trading less risky.
The Criminality of The COMEX I guess? They routinely sell not available gold too... assuming they hold any physical gold at all. Like it's stated in old 2015 article: "in just the past five weeks the Large Specs have naked shorted 360% of the total Comex registered vault" http://www.silverseek.com/article/criminality-comex-14584
Associate of Paul Craig Roberts Says Today 30% Of Available Physical Gold On Comex Was Dumped In 60 Seconds!
http://kingworldnews.com/associate-of-paul-craig-roberts-says-30-of-available-physical-gold-on-comex-was-dumped-today-in-1-minute/
Sometimes USD and gold price move in the same direction. I guess that was the case. Didn't check charts though.
There is a magic extremely high correlation between gold and Japanese yen. Nobody can really explain it. See some attempts here:
https://www.dailyreckoning.com.au/uncanny-correlation-yen-gold/2014/11/18/
https://www.orbex.com/blog/2016/08/gold-yen-correlation-worth-knowing/
Today Yen was down. But our President will take care of this soon:
Trump does have a point on the Japanese yen being undervalued: Strategist
U.S. President Donald Trump is likely to take an aggressive approach to the yen when he meets Japanese Prime Minister Shinzo Abe this Friday in Washington, a forex strategist told CNBC.
http://www.cnbc.com/2017/02/08/trump-does-have-a-point-the-japanese-yen-is-undervalued-strategist.html
Trump does have a point on the Japanese yen being undervalued: Strategist
U.S. President Donald Trump is likely to take an aggressive approach to the yen when he meets Japanese Prime Minister Shinzo Abe this Friday in Washington, a forex strategist told CNBC.
http://www.cnbc.com/2017/02/08/trump-does-have-a-point-the-japanese-yen-is-undervalued-strategist.html
JP MORGAN Back in the Hot Seat for Rigging Silver Prices?
JPMorgan Chase is back on the list of bullion banks being sued for rigging silver prices and cheating clients. Last week, a New York appeals court overturned a lower court’s dismissal of the suit, paving the way for additional discovery.
https://news.metal.com/newscontent/100722416/jpmorgan-chase-back-in-the-hot-seat-for-rigging-silver-prices
I really appreciate this kind of direct timely recommendations. Unfortunately I can’t watch board or market full time, so I usually use the safest option strategy: selling covered calls. I do this every week for JNUG. Sometimes my shares get called, but it’s still a profit. For this Friday I sold 11.5 calls, and it looks like they will be exercised. Nevertheless, I do read your posts (including those on option board) and made a couple of profitable trades following your advice. As to SLW… when I checked it after reading your post 23.5 options were already twice cheaper, so I gambled a few at 0.04. I don’t think this will pay, but who knows… BTW, I always look at pinch patterns on daily charts, but have never seen anyone doing this intraday. It’s quite interesting.
At least Bush was ready to listen to "expert" advices.
Leaks Suggest Trump’s Own Team Is Alarmed By His Conduct
http://www.huffingtonpost.com/entry/trump-administration-leaks_us_589a45f1e4b04061313a1fbb
The part that related to gold price - his "weak dollar" statements:
President Donald Trump was confused about the dollar: Was it a strong one that’s good for the economy? Or a weak one?
So he made a call ? except not to any of the business leaders Trump brought into his administration or even to an old friend from his days in real estate. Instead, he called his national security adviser, retired Lt. Gen. Mike Flynn, according to two sources familiar with Flynn’s accounts of the incident.
Flynn has a long record in counterintelligence but not in macroeconomics. And he told Trump he didn’t know, that it wasn’t his area of expertise, that, perhaps, Trump should ask an economist instead.
Trump was not thrilled with that response ? but that may have been a function of the time of day. Trump had placed the call at 3 a.m., according to one of Flynn’s retellings ? although neither the White House nor Flynn’s office responded to requests for confirmation about that detail.
Another quote:
“I’ve been in this town for 26 years. I have never seen anything like this,” said Eliot Cohen, a senior State Department official under President George W. Bush and a member of his National Security Council. “I genuinely do not think this is a mentally healthy president.”
Eliot Cohen, former State Department official under George W Bush.
Another possible scenario: EU breaks -> euro down -> USD up -> gold down (priced in dollars).
"Donald Trump fired Sally Yates after she refused to comply with his executive orders on immigration, making him only the second President in US history to dispense with his Attorney General. The other was Richard Nixon, eight months before he resigned before he was impeached.
Commentators have compared Mr Trump’s “Monday night massacre”, as cable networks began calling Ms Yates’ dismissal, to Nixon’s famous “Saturday night massacre” which he carried out during the Watergate crisis of 1973, sparking a chain reaction which ultimately led to Nixon’s downfall."
http://www.independent.co.uk/news/world/americas/donald-trump-muslim-ban-fire-attorney-general-richard-nixon-watergate-a7555441.html
Isn't this just "normal"? During Obama presidency everything was Bush fault. Now it's Obama conspiracy. I bet the next President won't have any problems to explain us how Trump "has destroyed America".
Yes, it didn't work this time. Half of my position gone at 9.5 - 10. Still good result for $6 shares. Hopefully I will have a chance to reload cheaper.
We are talking about tomorrow's close. Will see...
I asked JNUG to close below 9.5 tomorrow. Today's max-pain is $8.
Didn't you say:
"Bottom will be between 4.50 and 4.90"
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127227343
"Bottom for JNUG 5.35"
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127254946
"Rate increase and back to $4 next week? "
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=128151206
and now:
"Will see at least 7s"
It's very bullish prediction from you. Do you flip a coin, and it always lands on its edge?