Seeing that $NUGT has such a strong morning open and a follow-thru after the gap, I bought a starter position on $ABX to replace some of the $NUGT I sold this morning to lock in profit.

I like $ABX because of the potential breakout on the chart:

If price action can take out the early May high of $21.70, I will add more.  Did you see the higher low formed on May 17th?

The Fly has mentioned the seasonal down-turn of gold minings stock in June which is something not to be taken lightly; however, I feel that the severe downtrend since October of last year has thrown this seasonal pattern out of whack.  Nevertheless, I will be mindful of any sudden drop in price.

My 2 cents.

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A housewife has her Tesla Model S towed into the auto mechanic shop in the nearest town where her car broke down.

“Can you fix it in a day?  I don’t want to stay in this town for the night.”

I bought put option on $TSLA to short.  My bet is that the short-squeezed has reached its climax.  If any of you folks who is long $TSLA but hasn’t reached your climax yet, I feel sorry for you. (grin)

Here is a good looking chart that tells me a correction is imminent.  Remember, just because I say so doesn’t mean it is so.

Notice the divergence in the momentum indicator and the high volume today.  I see support around low 80.00.

Edit: I just learn that ChessNWine has a keen analysis on $TSLA as well, it is a must read.

My 2 cents.

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I still think the bullish engulfment bar we’ve seen on May 20 is the tell-tale sign of a bottom.  Statistically speaking, if the bullish engulfment has not been debunked by price action making new low after a week, the probability of a bottom is increasing.

Take a look at the chart below:

I like to see price action taking out $10 resistance soon to begin the rally back up.

I bought starter positions with stop below yesterday low.

My 2 cents.

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With $AMRN being the largest position in my portfolio, of course, I’m taking Vascepa for my cardiovascular health.  Why would I buy $AMRN if I don’t believe in the product?

The good news is that after only two months of taking Vascepa (4 grams per day according to recommended dose), my triglyceride level has dropped 46%.  The last time my trig was this low was eleven years ago.  My total cholesterol has decreased 25% without taking statin.  And yes, my LDL level did not go up.

The reason why I want Vascepa so much is because I don’t like to take statin.  My doctor has been recommending me to take statin for the last ten years and I keep avoiding it.  But I know I’ve to take something.  While my total cholesterol is still in need to come down more, I think I will try the natural remedy such as eating more oatmeal and exercise more.  Meanwhile, I will keep taking Vascepa to keep my trig low.

I’m hoping that with more time on my Vascepa therapy, my total cholesterol will continue to come down.  I’ll let you know after another two months.

Today, I did something that I didn’t think I could do.  I literally sold my whole lot of $AMRN just to prove that I could if special situation required it.  Without knowing whether the DOW would drop a like rock after the 7% drop on NIKKEI, I sold with the hope of buying back cheap.  Unfortunately, price did not go any further down after I sold, so I bought my core and swing trade position back.  All at a price higher than I sold for.  And Where are the shorts when I need them?  Go figure.

My 2 cents.

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After the morning gap on $NUGT, the wind has spoken.  After a bullish engulfment, we got an inside bar or harami.  Today, a gap up that took out the high of the inside bar is a confirmed bullish stance.  Not only that, $NUGT also took out the previous high of two days ago.  Based on these past few days of price action, I think the probability of gold finding a bottom is getting stronger and stronger.

Of course, I bought back my $NUGT despite the gap up.  Sometimes, I’ve to go with the flow.

Below is the 15 min. chart of $NUGT.  Isn’t it a beauty?

My 2 cents.

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Seems like a buyout potential is in the card giving the clue I find here:

Apricus Biosciences Inc (NASDAQ:APRI) Investor Alert: Investigation on Potential Takeover

An investigation on behalf of investors of Apricus Biosciences Inc (NASDAQ:APRI) in connection with a potential takeover was announced and NASDAQ:APRI stockholders should contact the Shareholders Foundation.

San Diego, CA — (SBWIRE) — 05/21/2013 — An investigation on behalf of investors, who currently hold NASDAQ:APRI shares, was announced concerning whether a takeover of Apricus Biosciences Inc would be unfair.

Investors who purchased shares of the Apricus Biosciences Inc (NASDAQ:APRI) and currently hold any of those NASDAQ:APRI shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.

The investigation by a law firm is at an early stage and concerns whether a potential takeover would be unfair to NASDAQ:APRI investors.

On May 14, 2013, Apricus Biosciences Inc disclosed that on May 14, 2013, the Board of Directors of Apricus Biosciences, Inc. voted to terminate Apricus Biosciences’ Shareholder Rights Agreement dated as of March 22, 2011, by and between Apricus Biosciences and Wells Fargo Bank, N.A., as rights agent.

Shares of Apricus Biosciences grew from $2.50 on May 14, 2013, to $3.409 on May 20, 2013.

However, given that NASDAQ:APRI shares traded in early 2012 as high as $5.49 and that at least one analyst has set the high target price for Apricus Biosciences shares at $8.00 per share, the investigation by a law firm concerns whether the Apricus Biosciences Board of Directors will undertake an adequate sales process, adequately shop the company before entering into any transaction, maximize shareholder value by negotiating the best price, and act in the shareholders’ best interests in connection with the proposed sale.

Shares of Apricus Biosciences Inc closed on May 20, 2013, at $3.35 per share.

Those who are current investors in Apricus Biosciences Inc (NASDAQ:APRI) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
[email protected]

Media Relations Contact

Joelle Day
Media and Client Relations Manager
Shareholders Foundation, Inc.
858-779-1554
Email

Follow Shareholders Foundation, Inc.:

Share on rss

Shareholders Foundation, Inc. – Logo

Disclaimer: I’m not familiar with Shareholders Foundation, Inc., so you have to take this piece of information at face value.

Nevertheless, I added more because price took out the high of Feb 11th again.

Click here for link to the article above.

Click here for link to Shareholders Foundation Inc.’s page on Apricus Biosciences, Inc.

My 2 cents.

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I’m back in $NUGT after taking profit during the day.  With price action taking out the high of two trading days ago, I’ve to go with the momentum and see if there is a follow-thru tomorrow.  We may be seeing a potential bottom for gold right now if the upside thrust continues on.

This is still a high risk trade.  My stop is a GTC order below intra-day low.

My 2 cents.

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Did anyone see the double-top formation on $DUST?

Seeing that $DUST price action was having a difficult time maintaining above the previous high of $119.63 from Apr 17th, I saw a low risk trade in $NUGT for a bounce.

Take a look at the daily $DUST chart below:

Chart is not looking healthy for the bull here.  A severe double-top formation has formed with price action today taking out the low of the last two days.

Take a look at the daily $NUGT chart below:

Although I was stopped out for a nice gain on $NUGT from the morning entry (with a low risk stop below intra-day low), I’m looking for a re-entry point with a low risk stop.  Today candlestick bar is forming a bullish engulfment bar which can become a bottom bullish reversal pattern if price action confirms with an upside movement tomorrow.

My 2 cents.

@tradingmy2cents

The trades I made in $NUGT were time-stamped in twitter

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So far, Kingdon Capital Mgmt has bought 600,000 shares!

 

My 2 cents

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After taking my quick profit yesterday, I assumed $APRI fun was over for good with short-sellers taking over.  But this morning action told me otherwise.  After open, price action started to kick off to the upside.  Not to miss this speculation play, I bought back some shares to join the thrill ride.

If momentum continues the way it is now, $APRI may be breaking out to the upside after taking out the Feb 11 high of $3.42.  If, a big IF, there is a buy out in the card, this one can go a lot more…

Below is the daily chart:

Below is the weekly chart:

Notice that this week bar has already broken out of the two 79sma and 89xma lines.  Notice also how the two ma lines are merged together this week.

My 2 cents.

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