Trading Gold

What has been the best game in town the past few weeks? Trading Gold Miners has really been explosive. Look at charts of VGZ, MUX, ASM, CDE, AG, FSM, and more and you'll see solid gains in these once hated Miners. I want to discuss trading these miners further, since we have been killing it in some of these.  Lets go to the charts...

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XRA -  On June 27th, I mentioned that this is an explosive set up, and showed a few reasons why. I was buying .

XRA 6-27

I then posted this on the 28th.  With Gold down $15, XRA powered higher. Last chance to get in?

XRA 6-28

And then Wednesday-  BOOM! - just like the VGZ and MUX trades, this exploded higher. Up 26%  at the close.

XRA 6-29b .

I was asked " Did you sell the pop?", this is what I'm  looking at...

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June 29 – Checking It Out

Friday alone wasn't enough to give us the information we needed.  Monday helped and now we have Tuesdays trading to add the the equation.  lets take a look...

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SPX- The positive side....the weekly chart  ( yes,  it is only Tuesday)  would shape up nicely if we held here or continued higher.  That's a big 'if'.

SPX WKLY 6-28

The bearish side...

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June 28 – Continuations

Friday we saw the initial reaction to the Brexit vote, and Monday we saw some follow through. Lets look at the charts...

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From the weekend report...

SPX again Read More