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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

Cleaning House Into the Close

chessNwine Wed Feb 12, 2014 3:45pm EST 4 Comments

obZAI

With respect to the metals, at least, I cleaned house, selling the final piece of my triple-levered long gold ETF UGLD inside 12631.

I am looking to see if the metals and miners now slightly pause or come in some to offer up another long entry, especially with silver failing to catch a strong bid after the promising action this morning.

Also, check out the value add of our 12631 Trading Service from our terrific members. User “Matanzas” noted BFAM. Looking at the weekly chart, below, it sure looks as sharp as any chart out there for a base breakout.

Natural gas saw a disappointing reversal lower, while coffee is outperforming.

See you after the bell on my video market recap.

_________________________________________

BFAM

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4 comments

  1. Mister Jinx
    Mister Jinx
    February 12, 2014 at 3:51 pm

    Thanks, Chess. Nice job with the gold miners trade. Appears to me like the underlying (GDX) slammed into the 10-month SMA today and was shoved back beneath it. It also hit the top of what I had as a channel on the weekly. Nice time to exit, IMO.

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  2. mateo
    mateo
    February 12, 2014 at 3:54 pm

    I got out of GDXJ yesterday, but for now plan to hold SVM and AUY through correction. Nice get on BFAM, Matanzas.

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    • mateo
      mateo
      February 12, 2014 at 3:55 pm

      Actually, SVM did pretty well today but pulled back a little from high. I wouldn’t be surprised to see consolidation or pullback here.

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