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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

A Gold Ring Around This McDonald’s Analysis

chessNwine Mon Oct 21, 2013 10:21am EST 4 Comments

mac-japan-gold-ring-burger-468x150

I am still bearish on McDonald’s as having serious long-term topping out potential, which I was posting about back in May.The issue with shorting MCD has been the earnings gaps lower, including this morning’s, making it tough to ride the trade unless you hold through. That said, I am still looking to short the stock into weak bounces.

Next, the gold miners are basing out on their 30-minute ETF chart, first below. I am still long a piece of NUGT after taking initial profits inside 12631 last week. I am looking for a reason to add back to the position.

Netflix is squeezing, yet again, higher into earnings tonight. Anyone betting on it?

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GDX

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MCD

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4 comments

  1. sethster99
    sethster99
    October 21, 2013 at 10:39 am

    Silver looking shiny here. I have no idea how you have the stomach to trade NUGT. The swings are ridiculous, which makes timing entries and exits extremely difficult.

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  2. matanzas
    matanzas
    October 21, 2013 at 11:13 am

    Bertha likes integer 8, $BIRT

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