8/21: There are some ideas for the week here in this video about individual stocks, and here with a look at markets. So there is a good amount in there to look at, and this morning is relatively quiet, so far. Gold did a few nice things (short-term setup) overnight, as did the Yen. I bought some PM calls on Friday into the noon selloff, and will be looking to exit.
8/22: There are a lot of gold doubters, which is good in the bigger picture. The trading range is killing people’s bullishness. The support breaks continue to be the potential buys, and selling into rallies – it’s a trading range. Miners have a chance to play catch up, but they still have to do it. Yesterday I sold a small JNUG position into the rally. This area is getting very compressed.
8/23: Gold, the Yen, miners, NUGT still very compressed, and I’m experimenting with options (for several reasons) to trade PMs right now. I’m long GDX calls, and used GDX for the options instead of NUGT, because of the much greater liquidity in GDX options, even tho the NUGT options move more. Again big picture – gold is in a bull market, I ignore all of the stupid commentary about it, except to gauge sentiment.
8/24: We’re closing in on…., and also on a much more “trendy” market for gold itself, which is still getting more compressed in its bigger trading range inside of a bigger trading range. See a theme here? Most people do not know about, will never recognize, don’t respect, and will never know how important they (trading ranges) are. And will never know how to trade them. Trading ranges are trends also, and just like up/down trends, trading ranges have specific approaches to them. This stuff has been discussed numerous times. People who have viewed them (PMs) unemotionally as a range, have had a very good chance of having done very well with them this year. If not, like almost everyone, then they’ve been flailing around, blaming, guessing, predicting, looking for answers, calling for breakouts – and losing money. The Yen pair bounce affecting gold, miners very compressed still with a shot at finally setting a higher high….which would be positive for a big….to come.
8/25: The Jackson Hole uselessness today could cause some volatility, and a good opportunity to go against the knee-jerk market reactions. The Yen pair shows some levels, and gold also short-term stuff, and still long the GDX calls discussed in premarket a few days ago, also discussed the….area.
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