TRADE UPDATE: Trimmed down 50% of my $NUGT position at $20.7 just now, for a return of +6.97%. Leaving the other 50% position in order to gain exposure for tomorrow. Stop-losses should be set relatively tight tomorrow, as volatility is bound to pick up and all the gains made so far could be wiped out … Continue reading April 09 – Assess Your Position Size
April 08 – Gold Breaks Through
*I use leveraged gold miners etf ($NUGT) to gain short term exposure to the gold miners etf ($GDX). However keep in mind that the miners don't have a perfect 1 to 1 correlation with Gold prices.* Trade Update: Gold and Gold Miners surged today partly based on the report that China’s central bank continues to … Continue reading April 08 – Gold Breaks Through
Week of April 08
Trade Set Up Please refer to the charts at the end of the post to see which resistance points I'm talking about. Current Position: 50% of full position in NUGT.Looking to add more to the position after it sells off at the first resistance, which is also where the first take profit point is. I … Continue reading Week of April 08
Flat Friday
Trade Update: Currently still only have 50% of a full position in $NUGT. The price retraced today as predicted, however my limit order was placed too low at $19.2 and the lowest trade was $19.33, by the time I was back at the computer it was bought up above $19.6. I decided that the risk/reward … Continue reading Flat Friday
April 04 – The Golden Comeback
Gold started the session deep in the red as investors reacted to the jobless claims data that came in at 202K vs 216K forecasted. Gold and Gold Miners sold off prematurely just before bullish investors came back in after digesting the uncertain trade deal information. A Wall Street Journal article states that while it seems … Continue reading April 04 – The Golden Comeback
April 03 – Yield Gone Wild
See below for supporting charts. Yields continue to push higher amid a renewed appetite for risky stocks and a general uplift in the confidence of the economy. The 3 month and 10 year yield differential continue to expand after it un-inverted and is currently sitting at around 2.43 vs 2.51 respectively. This is helping to … Continue reading April 03 – Yield Gone Wild
Welcome to GDX Daily Market Forecast!
Be sure to hit the follow button to get notified when I post my daily updates! Feel free to share your opinions and analysis in the comments! We are here to build a community of investors and traders that have a passion for Gold. I'll be posting daily market and trade updates so stay tuned. … Continue reading Welcome to GDX Daily Market Forecast!
