ENTER AT YOUR OWN RISK
SEPT 25 I have NOT even mentioned Miners lately. They did not look ready, they weren’t acting correctly. Depending on your daily cycle count, Miners may be very deep in their count, due for a bounce. Some have them only on day 25, deep enough, but I have them on day 36! THAT is late. Today , we may have had a “Stop run” on the May lows. I decided to take a position, because at these very oversold levels (Seen on the chart below), we have had some nice rallys – Good %-Gainers. Its only a LOW RISK ENTRY, because you cut positions if we drop below todays lows. Its high risk, because Miners have been selling off . Its a contrary trade set up.
Note the RSI & STOCHASTICS :
-Then please notice that the MARCH bounce from these oversold lows wasn’t a buy & hold for very long.
-Also note that the DEC 2013 lows took a while to bottom before rocketing higher.
-May lows rocketed higher. What will happen here? I cannot say for sure, but it was a decent entry and I wanted to share why I took a position.
EDIT: I want to add that I got a BUY SIGNAL known as an RSI(2) on GDX Monday . Over 95% reliable Buy signal
Thanks…do you buy GDX or NUGT?
Hey Ron,
I actually grabbed JNUG as it reversed above $13 .
Explanation is : Daily chart it looked like the stop run pointed out on the above chart, but
-On a 5 minute chart it reversed higher and then popped above $13 on 250,000 shares. Then it dropped again to $13 (under a bit actually) on light selling , and as it turned again and started to go higher again, I felt Sellers could not drop it down, they may be out, buyers coming in after the stop run from May lows…so I took position and then drew that chart.
I should add…NUGT works too. That would’ve been fine.
Thanks…do you buy GDX or NUGT?
Hey Ron,
I actually grabbed JNUG as it reversed above $13 .
Explanation is : Daily chart it looked like the stop run pointed out on the above chart, but
-On a 5 minute chart it reversed higher and then popped above $13 on 250,000 shares. Then it dropped again to $13 (under a bit actually) on light selling , and as it turned again and started to go higher again, I felt Sellers could not drop it down, they may be out, buyers coming in after the stop run from May lows…so I took position and then drew that chart.
I should add…NUGT works too. That would’ve been fine.
Thanks LRE for sure !!
Yes, still has the word “Risk” in it tho : )
Thanks LRE for sure !!
Yes, still has the word “Risk” in it tho : )
Agreed….been a long week … 🙂
I have some red / some green too…
Any specific stock that you’re curious about and want a 2nd set of eyes, I’ll take a look?
Agreed….been a long week … 🙂
I have some red / some green too…
Any specific stock that you’re curious about and want a 2nd set of eyes, I’ll take a look?
Nothing specific been in cash for a while, just getting a watch list together for the unloved coal and energy stocks that have been in free fall. Any thoughts appreciated !
Yes, I agree. The coal ones are so beaten down that they scare me, and usually I’m drooling at that. I look at WLT (Weekly chart) and a simple ‘bounce’ looks like it would be a 50-100+ % ! -LOL (NO recommendation)
XLE I also have been watching it get to an oversold point , and Energy unloved as you said. Usually thats when you get some nice move off of the bottom, but its best to wait for that proper entry or you can get sucked down a bit more. MHR & ROYL popped nicely today, and I missed DOM too. So some showing signs of life. I’ll try to post when I see something more actionable / less risk
Nothing specific been in cash for a while, just getting a watch list together for the unloved coal and energy stocks that have been in free fall. Any thoughts appreciated !
Yes, I agree. The coal ones are so beaten down that they scare me, and usually I’m drooling at that. I look at WLT (Weekly chart) and a simple ‘bounce’ looks like it would be a 50-100+ % ! -LOL (NO recommendation)
XLE I also have been watching it get to an oversold point , and Energy unloved as you said. Usually thats when you get some nice move off of the bottom, but its best to wait for that proper entry or you can get sucked down a bit more. MHR & ROYL popped nicely today, and I missed DOM too. So some showing signs of life. I’ll try to post when I see something more actionable / less risk
i also saw a change in trend, bought JNUG @ 12.75 or so, and then sold @ 14.00 today. well i ‘ll buy the next bottom
Your entry was better than mine. I waited for the intraday reversal . Nice grab on that one and thanks for reading along Krish
i also saw a change in trend, bought JNUG @ 12.75 or so, and then sold @ 14.00 today. well i ‘ll buy the next bottom
Your entry was better than mine. I waited for the intraday reversal . Nice grab on that one and thanks for reading along Krish
you know what I did today? I placed a buy order @13.01 and went on some other job.. it missed by 0.01… when I returned to see what had happened.. I had to chase it and buy at 14.45.. closed @ 13.20
you know what I did today? I placed a buy order @13.01 and went on some other job.. it missed by 0.01… when I returned to see what had happened.. I had to chase it and buy at 14.45.. closed @ 13.20
I mean JNUG @ 13.45 not 14.45
I mean JNUG @ 13.45 not 14.45