Shorted QQQ @ 188.13

The market has been holding up for the week anticipating something from the Hole to save the bull,  let's what will come out of  the Hole today  ..............

Edited by redfoliage2, 23 August 2019 - 07:12 AM.

By now the market can forget about the Hole and refocus on the trade war............................

I like it.  This trade was/is more of a hedge. I was expecting a little more weakness in the miners but it's possible we only touched the buy area as support. We've actually done it twice now in the last week or so. Since the market is weak and even bullish comments are failing to help it, what's in store? One never knows. could it be extreme weakness that does pull the miners down a little? I don't know. What I do know is the Short is very profitable at this time. Do you like my timing?  and Gold miners mega profitable. I don't regret taking off the margin. You do have to be prudent and I have much less worry now making it much easier to sit tight.  Good names to look at are NSRPF and IRVRF. Both on to large gold discoveries. Irving will be quicker but Novo likely bigger in the long run. So big it's going to take decades to know.

I think I will sit tight on this until we test the Jan 2019 lows. That's around 143 if memory serves me.

I covered QQQ @ 183.30 from entry of 188.13  seeing some things that MAY mean it bounces. such a large move down in one day and it's friday. games can be played either way, taking profits is always good. LT I think we test the Jan 2019 lows, AT least

Full on gambler mode has engaged. JUst bought some 286.50 SPY Calls @ 3.71 that expire 8/30

I plan on reshorting next week most likely. BTW when I said it will take decades for Novo Resources, they will be mining soon, within 6 months or so but the land package is so large that it will take decades to have a good idea of how big it is. Similiar to the Wits in South Africa that produced what? was it a Billion ounces? I think Novo has 40 million ounces. Irving 15 to 30 million ounces. Lion ONe metals should be a big winner too and I forgot to mention Marathon Gold that is also doing great and may pour gold in a year. Pre feasibility Study is ongoing and will be out this year and it will have an increased resource size. Looking at least 5 million ounces. They will be bought out IMO. Undervalued by several hundred Million to the old NPV which used a much lower Gold price and smaller resource. Likely buyout will be the 800 million range.

I covered QQQ @ 183.30 from entry of 188.13  seeing some things that MAY mean it bounces. such a large move down in one day and it's friday. games can be played either way, taking profits is always good. LT I think we test the Jan 2019 lows, AT least