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GDX slammed into $21.25 on the open, while Gold was down to $1207. Silver down to $17.30 SPX still hovering around 2370. On a 1 year GDX chart, this looks like a bottom for months.
GDX dipped to $21.5 today on a nice SPX drop of over $10 to 2375, even while Gold was up a tiny bit to 1227 ....yes that sounds backwards. Started selling GDX put credit spreads: May 21 short by 16 long paid me $1.10 net out of $5 risk today.
Here we are again, SPX just screamed up $20 on Trump's speech to ATH 2383, and our GDX kissed my long term uptrend line right at $22.5. I start this line from the dip January 2016, and pass it thru the many tests in Dec 2016; ignore the fake dip at New Year. A more brutal line from every bottom would have us dropping to $20.
Mozillar Firefox user: when memory usage exceeds some limit (5 tabs open, each with loaded saved analysis), an error message indicates a script has stopped working, not responding, do you want to stop scrip or continue appears. The last set of horizontal lines drawn & saved in analysis, when opened and being analyzed again, all reappear as vertically drawn lines, one on top of the other. When these analysis are closed without saving, and a attempt is made to reload the previous correct analysis, the unsaved errored analysis is reloaded...After using this for several days, I believe this new charting program is superior to the last with the exception of being able to add text availability in the old version.
Hello Mr. Hedge. Yes, you were correct, nugget went from $6 to over $8 in a few days here. Hope you made tons of profit. But, you are on the wrong forum. This is the GDX forum, which is an actual ETF with some kind of equity. NUGT is some fake basket of options, with awful time decay. Totally a gambler play.
Mr. Hedge, I finally looked at Nugt, and read your comments. Seems like we have different strategies. Since Nugt is a 3X ultra sort of thing, it has terrible time erosion. So yes, you could only day trade that. It's performance looks terrible; although I dont doubt you made money on it. GDX (which this forum says it's about) seems to be an actual ETF, as in it has some kind of equity. We appear to be near a bottom in GDX; yes it could plunge more to $13 (again), but that would really be IT. I sold a put, tip toeing in at 20 strike price with 20 contracts. My strategy is to get assigned, and then sell covered calls on the stock. Meanwhile, i can sell more puts for cash flow.
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