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Bought Boatload Feb/Mar GDX Puts

Started by blustar , Feb 11 2009 11:01 AM

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10 replies to this topic

#1 blustar

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Posted 11 February 2009 - 11:01 AM

Looks like a classic double top just like the QQQQ just did. GDX just above 36.

Blessings,

blu

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#2 IndexTrader

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Posted 11 February 2009 - 11:27 AM

You think this is going to happen in a week? Don't hold your breath. IT

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#3 jdjimenez

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Posted 11 February 2009 - 11:47 AM

Doesn't seem possible in only 5 days. With GLD's breakout on point & figure charts it looks like $960 Gold is the next likely target. I'm looking to start a GLD short position around that number. Best of luck with your trade! JDJ

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#4 traderpaul

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Posted 11 February 2009 - 12:29 PM

Blu, you called the low that was a great call....Now, you are calling the top.....i know a lot of folks that are waiting for a pull back to go long.....Good luck with your trade.....

"Inflation is taking place now. Prices may not appear to be rising because they are making packaging smaller. "— Rickoshay

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#5 blustar

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Posted 11 February 2009 - 03:19 PM

My forecast is by Feb 19-23 we will be below 25 on GDX.

Blessings,

blu

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#6 thespookyone

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Posted 11 February 2009 - 04:39 PM

Volume today says you are right blu-took a taste of Feb GDX 35 puts at 70 cents myself. Good trading to you.

Edited by thespookyone, 11 February 2009 - 04:39 PM.

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#7 goldswinger

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Posted 11 February 2009 - 07:29 PM

Bought HGD.TO Toronto reverse Precious Metals ETF. It also had extreme volume , higher than at any day in the past few months with negative divergences on Weekly, Daily and 60 MIN charts. It seems as a reverse upward capitulation for the gold sector. Is that what you are refeering to THESPOOKYONE? Good luck to you all. GOLDSWINGER.

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#8 goldswinger

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Posted 11 February 2009 - 07:30 PM

Bought HGD.TO Toronto reverse Precious Metals ETF. It also had extreme volume , higher than at any day in the past few months with negative divergences on Weekly, Daily and 60 MIN charts. It seems as a reverse upward capitulation for the gold sector. Is that what you are refeering to THESPOOKYONE? Good luck to you all. GOLDSWINGER.