That is most of my book, and has been for a while now, inside 12631. I have a few other positions on, such as WYNN short. But, for the most part, I am focused on those parts of the market where I can pick up alpha if the very extended, popular (and crowded) momentum plays unwind further.
The miners have been great for me, playing NUGT, while the metals had been laggards.
This morning, though, the metals are showing some heart, with both silver and gold threatening inverse head and shoulders bottom daily chart upside breakouts which I have profiled for your previously.
Keep an eye on the coffee ETN, JO, which I am still long, to see if it recaptures $23 to the upside after some recent pulling back.
Back with some more ideas in a bit.
Drop me your top morning tickers.
awesome pic Chess! I concur with you on the miners
Still might sell NUGT today, though, hah.
Sold the last of my GDX. Thx 4 bringing miners to my attn. 370% option gain on 1% of my capital risked.
Great to hear, nocturne. Thanks and well done.
Well, that UPL has been jumping. Not sure here… I’m tempted to ride full position in the hopes that weekly inverse H&S is the real deal.
Let me ask explicitly, Chess. Just looking at the chart, do you think it makes sense to lighten up? Or discipline via stop limit?
yes, definitely take some off here
thanks
in RGLD from 49.66, sold half on this morning’s pop, using 5 EMA as stop loss
FTEK (still long partial) setting up for either another run or breakdown…