Continues to blow my mind how ST people are. #gold now very overbought/extended while up 1.5% w/#silver & $GDX down 7% last 6 wks.
Puts far from getting "crushed" despite this move. Not seeing any reason to exit or go long, based on my time horizon.
And #FOMC next wk. Patience/
Puts far from getting "crushed" despite this move. Not seeing any reason to exit or go long, based on my time horizon.
And #FOMC next wk. Patience/
Meantime, I'll let the gold bugs gloat at my expense. Lord knows they don't get to do it often. Have a few days of fun amidst last 2yrs of losses.
Some context, $GDX/ $GLD couldn't make a close above where it was just 2 days ago. 1 day is not a trend, zoom out & look at the avg/
Some context, $GDX/ $GLD couldn't make a close above where it was just 2 days ago. 1 day is not a trend, zoom out & look at the avg/
What I see is panic buying in #gold, the safe haven. #silver & $GDX feels like all short covering B4 weekend. Short covering is great ST, but will it carry over to new longs buying at these levels, fade quickly?
Have fun over ydays ST pennies. I'm thinking medium term dollars/
Have fun over ydays ST pennies. I'm thinking medium term dollars/
Point on strategy: we enter 1/3 puts because good price. Next, we either get a 2nd crack at "good price" or we enter 2nd 3rd because PA breaks down, confirming our view. We got good price so bought 2nd 3rd. Now, we will ONLY enter last 3rd on confirmation. Need PA to break down.
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