Thread: Bear Cave 2 (Bull Allowed)

CrabClaw,

Someone sure wanted Gold not to hold the 1250 level today.....the crooks more then likely. It looks like we are going to gap down tomorrow at the open (gold is currently down), so I will be adding some for sure in my trading account. I'm not sure what I'm going to buy NUGT or JNUG....I'll let the price decided, but JNUG has had a nice run since I bought shares at 13.10 and lower. NUGT might be the better buy, and it is very liquid for trading, but it's a coin toss for now.


I'm not going to add to my position trade GDX or GDXJ, unless gold test the June lows of 1180, and I sure hope that doesn't happen. I'm concerned about the gap on my HUI chart, but I'm still going to add and keep my position size small. It seems every time HUI leaves behind a gap it gets filled, and that would be another real beat-down holding NUGT and JNUG.

Some of the paid services I follow went back to cash today and sold the miners, but the two main trading services I use for wave and TA data are holding, and one was adding today both NUGT and JNUG. NO ONE can know for sure what will happen in the short-term, but I'll be buying the dip.....and if we head lower I'll just hold and maybe add. I still think we are very close to a multi-week rally, but I have been wrong so many times in 2013 it keeps my position size smaller then I would like.

Good luck on your trade if you buy.

$HUI - SharpCharts Workbench - StockCharts.com

thanks for the insight
I will be watching the action closely.

I'm removing my stop on TZA for the open. It looks like the market will gap up this morning, and I don't want my TZA stop hit in the first hour of trading. I will sell at the market later today if it looks like another move higher is in the cards for the small caps before a pull-back. My TZA position size is still very small, and I could still add another tranche this morning, but haven't decided yet. I'm watching gold and the miners, as another beat-down is in progress.

It' never easy trying to trade the metals/miners when it's so easy to move them up or down. Lots of stops were run again yesterday and today already, and folks are just plain tired of trying to hold on to long positions for the metal/miners. I hang out in other chat rooms and many traders are back to cash again.....I'll be looking to add to my long trade again as I sold many shares during this rip up, but as I mentioned in a earlier post the gap on the HUI chart has me worried. I would not like to see HUI heading back down to around 200 again if I add to today, but that's the risk of short-term trading 3X indexes.

Watching and waiting, and for sure this is a High Risk Trade if I take it as I'm already long some share of NUGT and JNUG. I will keep positions small for Risk Management, and I already have positions in GDX GDXJ NUGT and JNUG that are headed lower today.

$HUI - SharpCharts Workbench - StockCharts.com



Good trading.

Originally Posted by CrabClaw

thanks for the insight
I will be watching the action closely.

CrabClaw,

Good luck on you trade if you buy, and I'm headed to some other chat rooms to see what traders are thinking.

Good trading.

Im thinking if NUGT goes down to $27-$28 and shows some stabilization I will dabble. If it looks like it blasts down to that level in obvious downdraft mode I will wait.

Added some shares in my trading account....


1/15/2014 9:47:07 AM ET TZA Bought TZA @ $16.618 Executed
1/15/2014 9:38:16 AM ET JNUG Bought JNUG @ $18.82 Executed


I will place a new stop for TZA after the first hour of trading.


Another new 52 week low for TZA, (52wk Range:16.58 - 48.24) and the Bulls remain on the run.....


https://www.google.com/search?q=bull...w=1301&bih=561



Good trading.

Originally Posted by CrabClaw

Im thinking if NUGT goes down to $27-$28 and shows some stabilization I will dabble. If it looks like it blasts down to that level in obvious downdraft mode I will wait.

Nothing wrong with waiting.....I'm adding slowly myself.

Added some shares...

1/15/2014 1052 AM ET NUGT Bought NUGT @ $30.99 Executed

I didn't like the action....sold for small gain and now waiting.....

1/15/2014 11:14:02 AM ET NUGT Sold NUGT @ $32.01 Executed

1/15/2014 11:19:01 AM ET JNUG Sold JNUG @ $20.11 Executed

Good trading.

A nice Bull/Bear discussion about the market and current TA indicators...Bulls are winning! I don't use it, but study it often.


Watch Out! 6% Drop Coming Fast! - Traders-Talk.com


Home

Another lower low for TZA and another high for TNA......might have to cut and run, but still holding.


TZA - SharpCharts Workbench - StockCharts.com

TNA as had a nice run for sure....but a test of the 50 DMA is overdue and that's my trade.

TNA - SharpCharts Workbench - StockCharts.com

Another Bullish Call from Jeff on gold.....he has been wrong for many months now.

Contrarians’ Wildest Dream Coming True
by Jeff Clark - Casey Research
Published : January 15th, 2014


Of course, just because something is cheap today doesn't mean it will soar tomorrow. But given gold's historical role as money, butted up against monetary recklessness today, the outcome seems all but certain.

http://www.24hgold.com/english/news-...eff+Clark&mk=1