53 replies to this topic

[tria]

Gold is looking good for now but some clouds seem to appear during the summer months.

I do not think however that the $1,300 level will be visited any time soon.

No short-term trading action for me for the first part of the week but perhaps on Thursday.

[dougie]

Looking good but wont visit the 1300level? 

that doesnt seem that good...

[tria]

Looking good but wont visit the 1300level? 

that doesnt seem that good...

 

Looking good = should not fall and probably rises to about 1,250-1,260

IMO will not visit the 1,300 level this half of the cemester but in the next one, I think.

This is why I trade Dougie and don't like watching the absurdist play by Samuel Beckett, 'Waiting for Godot'

3rd of a (3rd) of a III don't come easy and not very often in our life time...

 

If, as I think you are, interested in the GDX, 23.00-23.50 probably is all she wrote in the first 1/2 of 2016.

If wrong in what I write, I'll be pleasantly surprised since apart from my futures trading positions, I do carry

Dec17 , strike 1,260 long Gold calls, against 1,175 & 1,150 naked puts, as I posted here last month

in real time.

Edited by tria, 10 April 2016 - 05:25 PM.

[dougie]

Thanks Tria

I am only long about 50% here.

Would prefer to be more but not that nimble

Happy that my accounts are not too far off ATHs (well 10-15% to be sure). That is a small victory considering I have been focused on the miners for the past 20 years.

[tria]

Thanks Tria

I am only long about 50% here.

Would prefer to be more but not that nimble

Happy that my accounts are not too far off ATHs (well 10-15% to be sure). That is a small victory considering I have been focused on the miners for the past 20 years.

 

Hope hot & dry US summer months gives you an opportunity to add before Trump trumps us all. 

[dougie]

you see him getting elelcted/ 

I doubt it

Hillary or Paul

[tria]

Just joking Dougie, I have no clue but generally disappointed that no real strong and popular leader

is or will be in the driver's seat either in Europe, neither in the US any time soon.

A leader voted by the people and/but 'for the people' !

[tria]

Weather conditions made me divert from the original plan (normally I regret diversions from a written down plan

when mkts are closed) but still, I sold 1/3rd of Gold futures near today's high so far @ 1,253.00

One thing I did not like was last Friday's put/call GLD ratio. It came to 49,852 Calls/4,370 Puts.

Now 2/3rds long with the normal 3:1 leverage, ie. 200% long in both the metals.

Will probably sell another 1/3rd this Thusday.

[tria]

Had to drop some SIK16 @ 15.93

A dollar/oz saved is a Dollar earned, as they say.

Now 200% long Gold and 100% long Silver on an unleveraged basis.

[tria]

Ideally, small range consolidation days for today and tomorrow.

Ideally, ST or MT high this Thursday and then a correction should be observed to the end of next week

and then we will see what may come next.

Ideally the month of May, may not be an ideal month to have bullish ideas.

 

BTW,

If one is 400% long like I was by April Fool's day (300% using leveraged futures plus 100% more with

Long Dec16 Call options in both Gold and Silver against Short naked Puts) which makes it 800% long

since both the metals are in the same asset class, one has to micromanage his positions 23hours/daily,

or he is dead.

Edited by tria, 12 April 2016 - 06:02 AM.