Seeking Alpha
  • Robert Edwards
    Bullish case for $GDX, $GLD, $NUGT, $NEM, $ABX, $GG, but not $DUST, click http://seekingalpha.com/p/1imgt
    Jan 4, 9:52 PM
    Reply (276)
    • Growfast: RE - Fascinating article and references, especially the piece on JPM. Thank you for putting this together. Always a great learning adventure
      Jan 5, 12:20 PM
    • shopvac20: Thanks RE, great read. It puts some of my friday concerns at ease. Great use of charts - look forward to a great week ahead.
      Jan 5, 1:05 PM
    • glaserdx: Thanks RE for history & guidance. JPM's gold mkt manipulation may now be in bull's favor...
      Jan 5, 1:40 PM
    • sszaheer: Gold 1242 @ 8pm good start as predicted by RE. looking forward Monday morning
      Jan 5, 9:00 PM
    • Robert Edwards: Sold 200 NUGT in premarket 30.64 and 400 @ 30.91 that was bot on Friday at 30.11, 30.30 and 30.50. Still holding rest of position.
      Jan 6, 8:47 AM
    • Robert Edwards: Will add back on weakness. Gold may have trouble taking out 1250 today but could do so tomorrow or Wedn. after consolidation above 1225
      Jan 6, 8:49 AM
    • Robert Edwards: I am watching PBR to possibly buy some over next 2-3 weeks on weakness towards $12.00. Catching falling knife so cautiously buying maybe
      Jan 6, 8:53 AM
    • Robert Edwards: I bot Petrobras 10 months ago and got out too soon. It went from $12 to $18. I am bullish the stock below $13
      Jan 6, 8:54 AM
    • Robert Edwards: I rode PBR from 15s to high 17s in the Spring of 2013 and failed to get back in when the stock fell to $12 and never made trip to $18 again
      Jan 6, 8:56 AM
    • Robert Edwards: Check out http://seekingalpha.com/a/15bpt for disappearing warehouse inventories of gold that should support prices going forward
      Jan 6, 9:12 AM
    • Growfast: If we do get a low in NUGT of 27-28 range, I will be looking at weekly call option prices to consider enhancing my NUGT performance
      Jan 6, 9:13 AM
    • Growfast: This worked well for me last week on the move from 25.7 to 30. Moving from 27.5 to 32 this week, assuming the right options price, could
      Jan 6, 9:14 AM
    • Growfast: yield similar results to last week.
      Jan 6, 9:14 AM
    • Robert Edwards: Sold some NEM at 24.17, bot on Friday below 23.90s. Will buy on weakness but want to be careful till we get thru gold resistance of 1260
      Jan 6, 9:15 AM
    • glaserdx: Grow-pls let us know call option details if u purchase- thank u
      Jan 6, 9:26 AM
    • Growfast: Nice open; would love to see 1260 and miss opportunity to buy calls from lower prices
      Jan 6, 9:34 AM
    • shopvac20: with you on that !
      Jan 6, 9:36 AM
    • Robert Edwards: sold some more NUGT above 31 and a bit of GDX above 22, as miners are underperforming a bit now vs. gold.
      Jan 6, 9:54 AM
    • davePx: Nugt has a lot of resistance this morning...still weak
      Jan 6, 9:54 AM
    • Growfast: Lets see if 1260 Gold can change the POV, Dave. There have been soooo many articles written about after a rally, there will be 1 more big
      Jan 6, 9:58 AM
    • Growfast: down move to set new lows. Perhaps NUGT traders have some fear of riding to the peak and catching a down draft. If this is true, breaking
      Jan 6, 9:58 AM
    • Growfast: through key resistance convincingly to the upside may bring them around. But, we also need to watch and be prepared around these levels JIC
      Jan 6, 9:59 AM
    • Robert Edwards: miners caught up and looking better now. Will hold remaining shares and will buy some on any weakness we get from now on today
      Jan 6, 9:59 AM
    • Robert Edwards: $22.21 old June low, today's high 22.17 in GDX. Need to get thru 22.20 area of GDX and close up there for more movement higher
      Jan 6, 10:00 AM
    • Robert Edwards: Based on 19 cent dividend payout most charts now show 22.02 as the June GDX low
      Jan 6, 10:02 AM
    • Robert Edwards: If gold closes up today, will be 3 up closes for gold in a row. Rarely get 3 up closes recently in gold and never 4 up days in a row
      Jan 6, 10:05 AM
    • Robert Edwards: gold may stop at 1250 resistance. In the 1247s right now. Gold and miners are acting better than I expected in first 30 minutes of trading
      Jan 6, 10:09 AM
    • vanebfbc: Second week in January and gold is back close to 1250. Can't express enough the joy I feel when we are all making profit together.
      Jan 6, 10:11 AM
    • Robert Edwards: I figured we would get an early dip before rallying but we went right on up towards recent resistance levels. Now need to bust on thru
      Jan 6, 10:12 AM
    • davePx: Sold some nugt 31.75....nice pop watching closely
      Jan 6, 10:14 AM
    • Growfast: Wow! Someone had a large order lower at 1211. bounced right back to 1232 Gold and climbing.
      Jan 6, 10:15 AM
    • Growfast: With this volatility, we should blow through 1250
      Jan 6, 10:17 AM
    • shopvac20: what just happened ? from what i saw look like gold just crashed to 1215 ?? no back to 1236 ?
      Jan 6, 10:17 AM
    • Robert Edwards: 4000 contract order hit gold futures market in February gold and knocked gold down temporarily. Volatility!!!
      Jan 6, 10:18 AM
    • Robert Edwards: I dumped my entire remaining shares and am now flat. will sit and reappraise
      Jan 6, 10:19 AM
    • Robert Edwards: Kicking myself that I did not buy some dust in low 37s.
      Jan 6, 10:20 AM
    • Growfast: with the volatility, weekly calls for 31.5 strike priced at 1.20. Too high for now. Last week at 35.7, I picked up 26.5 calls at $0.67.
      Jan 6, 10:21 AM
    • Robert Edwards: Don't like the sell order hitting market. Makes me think we just topped out for now. will not buy or sell till things clear up a bit
      Jan 6, 10:22 AM
    • Growfast: MarketWatch headline just said Gold dropped based on ISM and Factory Order data. Must be convincing someone that next taper will happen.
      Jan 6, 10:23 AM
    • davePx: Caught nugt at 30.85
      Jan 6, 10:23 AM
    • Robert Edwards: Don't think it makes any sense as it looks like manipulation but someone wants gold to not go up any more and determined to knock it down
      Jan 6, 10:23 AM
    • davePx: This is scary stuff!
      Jan 6, 10:24 AM
    • Growfast: Trying to shake out longs and keep fear in place.
      Jan 6, 10:24 AM
    • Robert Edwards: Unless gold makes a new high today & completely reverses the sell action we just saw, will not be buying any gold or miners for rest of day
      Jan 6, 10:25 AM
    • Robert Edwards: After the 4000 order sell, we did 8000 orders of buys, over the next couple minutes. Still, don't like the action
      Jan 6, 10:28 AM
    • davePx: Just sold nugt 31.24
      Jan 6, 10:28 AM
    • Robert Edwards: I will research and try to see what happened there.
      Jan 6, 10:29 AM
    • Robert Edwards: Just see grow's comment now saying it was a report. Market is still thin from holidays and could not handle 4000 sell orders at once.
      Jan 6, 10:31 AM
    • Robert Edwards: I guess I will go ahead and buy again on weakness but will not be chasing strength. Only on weakness will I get back in and space out buys
      Jan 6, 10:32 AM
    • davePx: Bought30.9
      Jan 6, 10:40 AM
    • Robert Edwards: If miners (GDX) closes above 22.20 today, I will buy on strength. Otherwise, will only buy on weakness below 22.00 in GDX
      Jan 6, 10:43 AM
    • davePx: Just sold nugt 31.2
      Jan 6, 10:44 AM
    • Robert Edwards: Bot NEM 24.13 but dumped at 24.23, will only scalp right now. not holding
      Jan 6, 10:46 AM
    • ptTL9: anyone is buying/trading DUST today?
      Jan 6, 10:54 AM
    • Robert Edwards: ISM data news article reported on kitco at 10:07 a.m.& factory orders reported 10:09 a.m., but 10:14 a.m. the big sell order happened.
      Jan 6, 10:55 AM
    • Robert Edwards: The reports came out at 10:00 a.m. and gold went up first and then fell back a bit, so no big deal. Don't believe these data caused gold to
      Jan 6, 10:56 AM
    • davePx: Narrow trading at best
      Jan 6, 10:56 AM
    • Robert Edwards: mini crash. The media attributes moves to some fundamental news like these reports, but that selloff was a computer algo order gone haywire
      Jan 6, 10:58 AM
    • Robert Edwards: Note to self: Next time a minor report comes out, have a buy order in gold futures sitting $30 below the market to get a cheesy fill, LOL
      Jan 6, 10:59 AM
    • davePx: What next?
      Jan 6, 11:00 AM
    • davePx: Could turn into a heathy up trend today
      Jan 6, 11:02 AM
    • vanebfbc: The fundamentals did not change, so I think long term gold should be up, but short term depends if it can hold above 1230.
      Jan 6, 11:03 AM
    • Robert Edwards: Very steady in here considering that selloff in gold blip. Don't remember anything that bizarre happening in gold in the recent past.
      Jan 6, 11:09 AM
    • Robert Edwards: A 4000 sell order is a monster, most big orders are 500 to 1000 and almost never bigger than 2000. Lots of stops I guess may have triggered
      Jan 6, 11:10 AM
    • Robert Edwards: Stops at 1230, 1225, 1220 and 1215 all got wiped out in one big swoop. That is why I don't place stops. I use equity stops only
      Jan 6, 11:11 AM
    • Robert Edwards: The original order may have been only 1000 contracts, and then the stops could have made up the other 3000. I only have 5 second bars
      Jan 6, 11:12 AM
    • Robert Edwards: and in 5 seconds over 4100 contracts traded. 8000 buys the other way means over 12,000 contracts in a couple minutes.
      Jan 6, 11:13 AM
    • Robert Edwards: 12000 contracts times 100 ounces each, means nearly half a billion dollars of gold trades in a couple minutes in February gold futures.
      Jan 6, 11:14 AM
    • Robert Edwards: If we do go on up in gold, I guess it is very bullish to wipe out the longs by triggering stops and then to rally.
      Jan 6, 11:25 AM
    • Robert Edwards: 4100 contracts traded in 5 seconds ($1/2 billiion dollars) and 18000 contracts in 3 mintues in feb gold ($2.25 billion)
      Jan 6, 11:31 AM
    • Robert Edwards: I would call the blip today in gold futures a liquidity flash crash. Reminds me of the day the Dow fell 1000 points on May 6, 2010. The
      Jan 6, 11:38 AM
    • Robert Edwards: Dow came back and retraced most of the selloff and then had to retest and eventually take out the low of that day. Wonder what the implica-
      Jan 6, 11:38 AM
    • Robert Edwards: tions are for gold now that it had a mini crash today. Do we now have to retest and take out the flash crash low down to 1200 maybe
      Jan 6, 11:39 AM
    • Robert Edwards: Gold is now barely in the positive. wonder what it does at 1:30 p.m. (probably close down) and then 5 minutes after close it might
      Jan 6, 11:47 AM
    • davePx: This is a crap shoot today
      Jan 6, 11:48 AM
    • Robert Edwards: take another tumble. I don't trust it. When an earthquake occurs, you get tremors that follow the original quake. Are more tremors coming?
      Jan 6, 11:48 AM
    • Robert Edwards: I continue flat in here. Just watching. Any thoughts?
      Jan 6, 11:52 AM
    • Growfast: For now seems stable, but I think many are probably like us, deer in the headlights waiting for direction. Someone doesn't yet want Gold
      Jan 6, 11:55 AM
    • Growfast: over 1250 apparently, but doesn't mean another/other big players aren't on the other side of that. Just don't see them in the game yet
      Jan 6, 11:55 AM
    • Growfast: Looking just in case - Feb 22 28 put is priced about 3.10 to 3.30. Could sell some calls to help cover cost if needed. Waiting to position
      Jan 6, 11:57 AM
    • Growfast: for this, but still looking to see if the strength comes in again.
      Jan 6, 11:58 AM
    • melanielshop: Too flaky for me...will wait until NUGT drops below 30
      Jan 6, 11:58 AM
    • davePx: Looking to see this thing close neutral and then up today
      Jan 6, 12:19 PM
    • Growfast: Article on the downward move this morning here: http://on.mktw.net/1gB33X3
      Jan 6, 12:32 PM
    • ricejudicata: Grow/Re, thanks for the articles over the weekend. Hoping for another strong week going into the debt ceiling debate/Chinese New Year.
      Jan 6, 12:51 PM
    • Robert Edwards: I am a vocational expert who testifies in social security disability hearings. In court today, I see the flash crash and not able to check
      Jan 6, 12:55 PM
    • Robert Edwards: out at the time. Very disconcerting. Now looks like no long term effects. Still watching to see where we close at 1:30 p.m.
      Jan 6, 12:56 PM
    • Growfast: We moved up 8 points fairly quickly this morning off of around 1240, then flashed about 8 points lower, then recovered to 1240 to 1242 range
      Jan 6, 1:00 PM
    • Growfast: Still a bullish day and NUGT is up 3.09% on the day. If we hold this area and higher, still signals bull to me. Now, a very large holder
      Jan 6, 1:02 PM
    • Growfast: could hit the market again, but the recovery seems strong to me overall. Also, I just wonder, with all the articles on resistance at 1250
      Jan 6, 1:02 PM
    • Growfast: if large holders and many smaller holders all put stops in at 1248 to sell headed into 1250 resistance. Now that those are cleared out,
      Jan 6, 1:03 PM
    • Growfast: could free up a better approach to breaking through 1250.
      Jan 6, 1:03 PM
    • Robert Edwards: I had taken some shares off on strength to buy back on weakness just prior to the crash so I did not have that much on when it occurred
      Jan 6, 1:06 PM
    • Robert Edwards: The flash crash might hurt ability for gold to rally as many traders (like me) r spooked about going long gold (or even miners) right now
      Jan 6, 1:07 PM
    • Robert Edwards: It is 100% manipulation . The same guy who sold the 4000 contracts probably bought 4000 of the 8000 contracts bought off the bottom
      Jan 6, 1:09 PM
    • Robert Edwards: They then dumped those now and reshorted above 1240. They were worried gold might challenge 1260 so they panicked and did this to stop it
      Jan 6, 1:10 PM
    • Robert Edwards: No fund would liquidate 4000 contracts on purpose, all in one order. It ensures the market falls and you get bad fills. Better to space out
      Jan 6, 1:11 PM
    • Robert Edwards: All those traders (gold bulls) who got stopped out --- will they be anxious to buy right back in now? I doubt it.
      Jan 6, 1:12 PM
    • Robert Edwards: I think a rally later today is now off the books, thanks to the flash crash. I could be wrong but it is my gut reaction. Will see
      Jan 6, 1:19 PM
    • Robert Edwards: algorithm computers now dominate trading so flash crashes are inevitable now I guess. still not easy to stomach when they occur
      Jan 6, 1:22 PM
    • Robert Edwards: they turned gold down right into the close in 7 minutes, right on schedule, but miners are holding up well right now
      Jan 6, 1:24 PM
    • Growfast: Off topic, but just bot $P Puts expiring Feb 7, 30 strike at 1.70.
      Jan 6, 1:39 PM
    • Robert Edwards: gold closed down less than a dollar at 1:30 NY close. That is how hard it has to get 3 up closes. Today's wide range close down is negative
      Jan 6, 1:42 PM
    • Growfast: What does this mean in your thinking then RE - for rest of day, rest of week. We still on for 3 more weeks of rally in Gold/NUGT/NEM/GDX?
      Jan 6, 1:43 PM
    • Robert Edwards: I called my son and told him I was spooked about gold flash crash. He said no big deal and is staying long GDX with all shares
      Jan 6, 1:43 PM
    • Growfast: Charts on NUGT and NEM still very bullish and we continue stretching the upper Bollinger Band. Closing down a couple points does not seem to
      Jan 6, 1:47 PM
    • Growfast: interrupt this. The flash and any fear caused might temporarily hold back a stronger rally, but I'm not sensing time to get out yet of bull
      Jan 6, 1:47 PM
    • Robert Edwards: Will be paying attention for unusual activity in gold around 2:00 p.m. EST, a time they sometimes try to manipulate price up or down
      Jan 6, 1:48 PM
    • shopvac20: still holding all core shares of nugt here, I dont want to ride this thing back to the mid 20s, still not at the breakeven point either.
      Jan 6, 1:51 PM
    • Robert Edwards: Bot 1/3 of my GDX position back at 22.00. Will add more on weakness most likely if we don't go crazy down in here
      Jan 6, 1:56 PM
    • Robert Edwards: buying 20% of NUGT position at 30.80 area working an order.
      Jan 6, 1:58 PM
    • Robert Edwards: got 10% of NUGT shares filled 30.83 so far
      Jan 6, 2:00 PM
    • Robert Edwards: bot another 1/3 gdx at 21.96
      Jan 6, 2:05 PM
    • Robert Edwards: Regarding your question of the next 3 weeks? I am just trying to get thru today and not get hung too badly. I am still hopeful for next
      Jan 6, 2:14 PM
    • Robert Edwards: 3 weeks rally in gold and miners Grow, but feel we are at critical resistance in gold 1240 to 1260 that may have trouble getting thru first
      Jan 6, 2:15 PM
    • Robert Edwards: attempt. may have to drop to 1225 in gold to regroup but hopefully we can forget the crash and hold in the 1230s and rally on up.
      Jan 6, 2:16 PM
    • Robert Edwards: Market seems very serene. I will go ahead and buy the other third of GDX to get all my core shares back on again, buying below where I sold
      Jan 6, 2:36 PM
    • Robert Edwards: A little cautious on NUGT for now and will slowly reposition back into it by adding back in on dips.
      Jan 6, 2:37 PM
    • Robert Edwards: On NUGT I will buy on a breakout above $32, or on dips. I already got out average of $32 on NUGT late last week so don't have to rush in
      Jan 6, 2:39 PM
    • Robert Edwards: bot NEM again 24.12
      Jan 6, 3:27 PM
    • Robert Edwards: added some NUGT 30.50 so now have half my NUGT back on. Have 100% of GDX core shares, and 2/3 of NEM
      Jan 6, 3:40 PM
    • Robert Edwards: caught some more NEM 24.03. Today NEM seemed to outperform and was above 24.50 earlier.
      Jan 6, 3:42 PM
    • Robert Edwards: Until we get above $32, will not go in more than 50% on NUGT. That way can buy back on any weakness to lower my average price.
      Jan 6, 3:43 PM
    • Robert Edwards: This is a great win/win situation I got myself in on NUGT. Just have to buy back at $32 mark on rally but on weakness can keep buying dips
      Jan 6, 3:46 PM
    • Robert Edwards: and will sell on small rallies in NUGT to scalp profits. Over time will keep lowering ave. price and if we retest bottom, only half in
      Jan 6, 3:46 PM
    • Growfast: Your approach appears to have worked out well today. And, agree that breaking through 32 on NUGT would finally show we can break resistance
      Jan 6, 3:47 PM
    • Robert Edwards: My overall ave. is less than $40 now, so if I carry half to bottom, can buy other half at $20 and only need $30 for breakeven. Hopefully we
      Jan 6, 3:48 PM
    • Robert Edwards: already saw the low, and in that case, will make sure I am fully invested by the time we cross the $32 mark in NUGT to carry on up to $40+
      Jan 6, 3:48 PM
    • shopvac20: a rally to close would be nice, happy to get through the day considering the flash crash... make another run at 1250 tomorrow ???
      Jan 6, 3:54 PM
    • Robert Edwards: today's fat finger gold sell order smackdown appears to have been an overall failure and hopefully traders buy gold back to 1250 & 1260
      Jan 6, 4:06 PM
    • Growfast: Agree. Still see us intact on bullish move - so far - watching for signs of needing to go for protection
      Jan 6, 4:12 PM
    • ricejudicata: Is it just me or gld seems to be more susceptible to fat finger trades? How many of these did we have last yr, 2-3? Curious timing. Ugh.
      Jan 6, 4:58 PM
    • davePx: Also agree ...if this mkt was going to kill gold they have had plenty of chances...good to see this position holding
      Jan 6, 5:19 PM
    • Robert Edwards: As my son and I discussed what happened after the market closed, we decided that the manipulation failed so the flash crash is net bullish
      Jan 6, 7:17 PM
    • Robert Edwards: Then I find this article also saying it was bullish, click http://bit.ly/1bM0ZWV
      Jan 6, 7:19 PM
    • Growfast: You have my agreement on this too. If we had gone down and stayed down, I would have immediately exited some positions and bought puts. But
      Jan 6, 7:35 PM
    • Growfast: as I watched the immediate recovery, it was just a few minutes back to normal (although not at the 1248 high). If you take out the flash, it
      Jan 6, 7:36 PM
    • Growfast: was a rather normal, uneventful day appearing to continue to support the bullish move and charts.
      Jan 6, 7:36 PM
    • shopvac20: This bull still standing, still looking for gold to take out the 1260 mark !! we were heading straight for the 1250 mark, lets do it again.
      Jan 6, 8:02 PM
    • gonetouring: I'm concerned that ydays crash was a shot across the bows of gold bulls by the gold-suppression cartel (Fed +). 1180 is key resistance,
      Jan 7, 4:54 AM
    • gonetouring: 'normal' trading has not breached it, and we are close. Recall April 2013, 400Tn sell orders in 30mins.. possible again, to get to $1100?
      Jan 7, 4:56 AM
    • Growfast: gt - Just looked at the charts. I wasn't in Gold or derivatives then but that does not look like a fun day unless one was long and strong
      Jan 7, 8:27 AM
    • Growfast: DUST. I'm still bullish, but the risk you point out has to be watched. If the cartel, whoever makes that up, decides they want prices lower
      Jan 7, 8:27 AM
    • Growfast: we can do nothing but prepare for and adjust. Warrants a look at where we are. I think we are making another move on 1250, but getting close
      Jan 7, 8:28 AM
    • Growfast: it may be time to lighten the load and get some insurance on the downside (or DUST as Left likes to do)
      Jan 7, 8:29 AM
    • Robert Edwards: lots of traders going long gold who got stopped out on that flash crash will want to buy a tick or two lower than when they got stopped out
      Jan 7, 8:30 AM
    • Robert Edwards: thus, all dips down to 1225 and 1220 in gold should be bought up aggressively so I am going to add on any dips we see today.
      Jan 7, 8:31 AM
    • Robert Edwards: I see a sideways consolidation day today and then a strong up day on Wednesday. Will position today for big up day on wednesday
      Jan 7, 8:32 AM
    • Robert Edwards: Bot some NUGT 30.07 in premarket, will continue to add on any weakness down to 29 in nugt. will sell some shares on strength to scalp
      Jan 7, 8:57 AM
    • Robert Edwards: bot NEM 24.00 and will add every dime down if able. NEM is showing relative strength last couple days and popping better than GDX
      Jan 7, 8:58 AM
    • shopvac20: gold cant seem to find its footing, support was found through the night, but the weakness this morning is worrisome.
      Jan 7, 9:14 AM
    • Robert Edwards: Would like to see 1225 hold as february gold support today and then we can bounce back and forth for a consolidation day and then up wednes.
      Jan 7, 9:20 AM
    • Growfast: Placed order for NUGT weekly 30.5 calls at $0.70. Lets see if I get the fill. Price hit .65 but bounced up quickly.
      Jan 7, 9:40 AM
    • Growfast: If I had joined Lefty in DUST at 37 like he stated before, I would have been happy with this open this am. Lefty, I hope you got your trade
      Jan 7, 9:44 AM
    • Growfast: Move my bid to .80 and got the fill on the 30.5 calls.
      Jan 7, 9:48 AM
    • Robert Edwards: gdx made a 3 cent lower low than last Thursday, slightly moving into the gap area. The gap should support and hopefully we move back up soon
      Jan 7, 9:53 AM
    • Robert Edwards: Buying on weakness, 9:52 a.m., we see NEM # 12, GG # 32, SLW # 38 and KGC # 85. Don't see any others on the list
      Jan 7, 10:05 AM
    • Robert Edwards: When the week started, I wanted 1225 to hold gold support (which it has except for quick flash crash move) and 21.50 hold in GDX (21.54 low)
      Jan 7, 10:09 AM
    • Growfast: There we go. Now moving north again on Gold.
      Jan 7, 10:17 AM
    • Robert Edwards: At 10:16 a.m., GLD now on list at 42 and SLV on list at 37 on buying on weakness. others still on list as well
      Jan 7, 10:28 AM
    • ptTL9: Took profit from yesterday's DUST trade today
      Jan 7, 10:29 AM
    • Robert Edwards: added all nem position back, ave. price of 23.84. Bot more NUGT in low 29s so pretty well fully invested again with all core & trading
      Jan 7, 10:31 AM
    • ptTL9: interesting read: w.kitco.com/news/2014-01-07/Gold-Weaker-on-Corrective-Pullback-from-Recent-Gains.html
      Jan 7, 10:32 AM
    • ptTL9: have not seen Lefty's post
      Jan 7, 10:33 AM
    • Growfast: Lefty is probably out fishing. We'll probably see his report later today.
      Jan 7, 10:37 AM
    • Growfast: Order in to see if I can get some more 30.5 NUGT weekly calls at .75. We'll see if I get the fill.
      Jan 7, 10:42 AM
    • shopvac20: GLD, GG, SLV all on the list... trying to hold ground, needs to move back above 1230
      Jan 7, 10:50 AM
    • Robert Edwards: gold cleaned out some stops under 1225, hitting 1224.20 low and then popped a bit then hit again. Needs to move off lows shortly
      Jan 7, 11:11 AM
    • Growfast: I agree, RE. The longer Gold sits here without conviction, gives me the slight concern that someone could knock us down again if they want
      Jan 7, 11:31 AM
    • Growfast: Still bullish, but just bot a small protective put position. NUGT 1/18/14 26 puts at $0.75. Moves against us, I have some protection and can
      Jan 7, 11:32 AM
    • Growfast: take profits. Move up with no dip and I lose a few bucks on insurance.
      Jan 7, 11:33 AM
    • Growfast: I now have long positions in NUGT and NEM. I also have calls and puts at 1/2 of my NUGT holdings.
      Jan 7, 11:34 AM
    • Growfast: Now just looking for Gold to do something - up or down, but bias to the upside.
      Jan 7, 11:36 AM
    • Growfast: Shop, keep talking it through.... Gold is working hard to break out of this 1230 area now. May start to see some strength finally.
      Jan 7, 12:56 PM
    • shopvac20: yes sir, I was happy to see us above 1230, gotta get back up there now, the minors are trying to outperform, would like to see 30+ nugt
      Jan 7, 1:29 PM
    • Robert Edwards: I bot NUGT today 30.24 down to 29.05, buying about every 20 to 25 cents with average of 29.68, sold out 29.80 on that 1st rally
      Jan 7, 2:17 PM
    • Robert Edwards: then bot back half as much 29.64, sold out again 29.84. So all NUGT bot today is gone but still have half position from yesterday still
      Jan 7, 2:18 PM
    • Robert Edwards: Have cash freed up to buy rest of NUGT on weakness, or if it rallies just got to buy shares back as we cross price of 32. No stress here.
      Jan 7, 2:19 PM
    • davePx: I wonder if today's action includes payback for yesterday's big sell order?
      Jan 7, 2:29 PM
    • Growfast: With another strong rally, I will look for opportunity to sell some NUGT OTM calls that would cover my call and put option purchases and
      Jan 7, 2:30 PM
    • Growfast: provide some profit.
      Jan 7, 2:30 PM
    • Robert Edwards: bot a few nugt 29.51, will add more on any weakness
      Jan 7, 2:33 PM
    • Robert Edwards: selling some NUGT 29.80 if it will hit me
      Jan 7, 3:13 PM
    • Robert Edwards: Hit my price a couple times and not filled, so I cancelled selling 29.80 and it then pops thru so I sell 30.07 on half, work order for 30.25
      Jan 7, 3:22 PM
    • melanielshop: finally
      Jan 7, 3:28 PM
    • davePx: May be a mistake but will hold into tomorrow morning
      Jan 7, 3:47 PM
    • Growfast: Considering we were down and gained through the day and appear to be closing in the black, it seems likely strength will continue tomorrow.
      Jan 7, 3:54 PM
    • Growfast: Looking for another run on 1250+.
      Jan 7, 3:54 PM
    • Robert Edwards: It was critical that we got some late day strength today. Came at the last possible moment.
      Jan 7, 4:06 PM
    • shopvac20: Minors worked hard today.. Hopefully it will prove to be a hard fought but constructive day
      Jan 7, 4:06 PM
    • Robert Edwards: We basically held 1225 support in gold and bounced back into 1230s. Today's weakness was partially a result of yesterday's flash crash IMHO
      Jan 7, 4:07 PM
    • Robert Edwards: Bulls are cautious getting back in for a day or two as they don't want the rug pulled out from under them again. Today should reassure them
      Jan 7, 4:08 PM
    • davePx: Nugt investors are as we know so speculative...sensitive bunch. We'll see what tonight brings and the morning.
      Jan 7, 4:13 PM
    • Growfast: Agree. This is why I think today was constructive on rebuilding for another attempt on 1250.
      Jan 7, 4:13 PM
    • gonetouring: Have been underwater for weeks with NUGT avg at 30.22... managed to liquidate all for a tiny gain at 30.33. Happy to have made 30% on JNUG
      Jan 7, 4:19 PM
    • gonetouring: Sitting on the sideline now, too many wild swings coinciding with 'news' and Wed we have Fed Minutes. Got the jitters after smash yesterday
      Jan 7, 4:22 PM
    • newbie872: Amazing how 1/6 and 1/7 trading days virtually overlap through Asia and London markets, then 1/7 totally diverge just after New York open.
      Jan 7, 4:33 PM
    • nicholasvngo: Omg I have 2000 shares @ $42.82 I an not sure when it is back to golden era
      Jan 7, 6:33 PM
    • zaw77: I guess we will test tomorrow 1220/1225 zone after NY open. If we hold on Wed. it should go quickly trough 1250 and test 1260 on Thu.
      Jan 7, 6:34 PM
    • Robert Edwards: in close & aftermarket had a hunch & sold out NEM & NUGT and then bought back NUGT in 29.70s this premarket. Kept GDX. Got lucky
      Jan 8, 7:56 AM
    • shopvac20: We were making progress then something happened, anyone know why ???
      Jan 8, 8:21 AM
    • gonetouring: Newbie I noticed the symmetry of POG, for trading days this week, remarkable, almost programmed! I've become a cynic of Comex/fix pricing
      Jan 8, 8:31 AM
    • Robert Edwards: Unloaded NUGT 30.17 to 30.25 area and now buying again 29.75 and lower. Buying dips and selling out on any strength for scalping
      Jan 8, 8:34 AM
    • Robert Edwards: More post flash crash skankiness. Will take awhile to get gold to settle down but should be bouncy off bottom. Might be time to sell out
      Jan 8, 8:41 AM
    • Robert Edwards: sell out half core long term shares to day trade dips and pops. this way can take advantage of back and forth to lower breakeven
      Jan 8, 8:44 AM
    • Robert Edwards: Loaded up NUGT 29.50 so now back in full NUGT position but will sell out half position on any strength.
      Jan 8, 8:45 AM
    • Robert Edwards: bot NEM & GDX as well, hopefully I am not loading up too soon. Gold made a lower low than yesterday but not miners. GDX outperformance
      Jan 8, 8:54 AM
    • Robert Edwards: With overnight and early day trading today and recent day trading, my breakeven of 41 has been reduced to no higher than 38.50. Will keep
      Jan 8, 9:02 AM
    • Robert Edwards: getting in and out to lower even further over the next few days & weeks. Miners & gold not showing any signs they can overcome resistance
      Jan 8, 9:03 AM
    • Robert Edwards: right now. Until they do, I will be selling against any and all resistance, but also buying back on all dips as I remain bullish overall
      Jan 8, 9:04 AM
    • Robert Edwards: PBR is below $13 again. I think PBR will bottom in the next couple weeks and has lots of room to rally after that. May buy some PBR today
      Jan 8, 9:17 AM
    • Robert Edwards: Vantage Point is still getting buy signals for gold. Even for Thursday. Buy signals all week, check out http://bit.ly/19dEnnv
      Jan 8, 9:25 AM
    • Robert Edwards: should have waited till opening to get lower NUGT but I thought gold might pop in the interim and not let me in as low as 29.50
      Jan 8, 9:37 AM
    • Robert Edwards: gdx holding yesterday's low by 3 cents so far. Don't want GDX to trade below 21.50. Gap area below still supports GDX
      Jan 8, 9:37 AM
    • shopvac20: This is some extraordinary weakness in gold, again a worrisome start to the day. Cant seem to find any support.
      Jan 8, 9:39 AM
    • Robert Edwards: Gold just broke 1220 support, not showing much buying support in here. 1215 needs to hold it. GDX took out yesterday's low, at 21.50
      Jan 8, 9:42 AM
    • Robert Edwards: we gapped down pretty good on charts on opening, need gold to pop so we try and fill the gap some.
      Jan 8, 9:43 AM
    • Robert Edwards: NEM broke yesterday's low by a dime, GDX by a nickel. gold back above 1220, maybe we work higher from here
      Jan 8, 9:45 AM
    • Robert Edwards: I feel GDX is so washed out it struggles to go lower. Fallen too much in last 3 years. However, struggles equally to rally. Trading range
      Jan 8, 9:50 AM
    • Robert Edwards: near lows. Will play that range till we finally get strength to rally more. 1200 to 1210 should be low and 1240 to 1270 high for now
      Jan 8, 9:51 AM
    • ptTL9: buying dust on weakness
      Jan 8, 9:52 AM
    • Growfast: I like the strength in NUGT and NEM despite the weakness in Gold overall. Charts still look very bullish. Would have to take out low in NUGT
      Jan 8, 10:01 AM
    • Growfast: of 24 to turn the other direction. I don't think that is going to happen. But, if we move to test anywhere near that area, I have protection
      Jan 8, 10:01 AM
    • Growfast: Market indexes are down, Treasury's getting hammered. Wonder where the money flow is headed. Gold and Miners on sale.
      Jan 8, 10:05 AM
    • gonetouring: Taken a small position in DUST, wonder what will happen to gold with the FOMC meeting minutes news? (smash). GOFO rates -ve for 3mths, very
      Jan 8, 10:23 AM
    • Robert Edwards: on that pop above 29.50 sold a few NUGT but my main sell order was 29.76 which turned out to be HOD and only 10 shares filled.
      Jan 8, 10:24 AM
    • gonetouring: bullish situation. Even if price is pushed lower now, there could be a dramatic spike up - at anytime. Not prepared commit on the bear side
      Jan 8, 10:25 AM
    • Robert Edwards: NEM just made a new LOD by a couple pennies. failure to launch but don't want to cram down either
      Jan 8, 10:45 AM
    • Robert Edwards: no love for miners today. Buying on weakness, only see NEM as # 85, and no other miners in top 100. Maybe it will improve later today
      Jan 8, 10:49 AM
    • Robert Edwards: bot some PBR 12.77, will add on further weakness, buying slowly catching falling knife
      Jan 8, 12:03 PM
    • Robert Edwards: bot some NUGT 29.35 that was sold 29.69
      Jan 8, 12:05 PM
    • Robert Edwards: sold some NUGT 29.61, will keep buying on dips and selling on rallies
      Jan 8, 1:06 PM
    • Robert Edwards: holding half my NUGT position and will add other half if we can take out 30 today, otherwise will add on dips
      Jan 8, 1:08 PM
    • davePx: Moody's downgraded expectation for gold prices in 2014
      Jan 8, 1:12 PM
    • Robert Edwards: in 7 minutes we close down for the 3rd straight day (total of about $15 in all) and then in 37 minutes DEC Fed minutes r released
      Jan 8, 1:24 PM
    • Robert Edwards: I figure they will find some excuse to sell gold when minutes announced, and I will buy that dip and figure we close up at end of day
      Jan 8, 1:25 PM
    • Robert Edwards: Sold my NUGT 29.98, right against 30 HOD but will buy back if we can bust thru resistance and get above 30. Still think 2:00 p.m. could fall
      Jan 8, 1:39 PM
    • Robert Edwards: Still looking for a dip on the 2:00 p.m. EST announcement of Dec Fed meeting minutes to buy NUGT on.
      Jan 8, 1:40 PM
    • Robert Edwards: Still have full load of NEM and added to GDX today so still long the miners to benefit from bullish move. Just don't want to lose on NUGT
      Jan 8, 1:41 PM
    • Robert Edwards: bot 1/4 of NUGT position back at 29.60
      Jan 8, 1:55 PM
    • Robert Edwards: minutes to be released in one minute
      Jan 8, 1:58 PM
    • Robert Edwards: bot more NUGT 29.21, still watching for more weakness to add
      Jan 8, 2:04 PM
    • Growfast: Bot more NUGT 30.5 calls at 0.60.
      Jan 8, 2:04 PM
    • Robert Edwards: bot more NUGT 29.16, now 80% of NUGT position on, trying to get 29.00 for full position
      Jan 8, 2:13 PM
    • Robert Edwards: hopefully we bottomed. Instead of adding more NUGT, added PBR 12.72
      Jan 8, 2:16 PM
    • Growfast: Gold and NUGT didn't drive down enough for me to get a spiked profit on the put position. Will continue to hold as insurance but after FED,
      Jan 8, 2:16 PM
    • Growfast: and retest of 1220 level with and rebound up from there so far, I'm far less worried about the downside risk. Bullish momentum ready to kick
      Jan 8, 2:17 PM
    • Robert Edwards: That report was a bunch of nothing & to think traders are actually making the pretense that they are trading off it. Theater Of The Absurd
      Jan 8, 2:21 PM
    • Robert Edwards: I knew that with gold rallying into the report, they would take that back and retest the lows of the day and that is exactly what happened.
      Jan 8, 2:21 PM
    • Robert Edwards: The dip in gold and miners was pre-ordained prior to the minutes being announced. Why did it sell off....because that is the market we have
      Jan 8, 2:22 PM
    • Growfast: Crazy, but good read on the opportunity. Gold working on the low end so you just might get that final fill at 29 - or very close to it.
      Jan 8, 2:23 PM
    • Robert Edwards: and why will we likely get a late day rally back up. Because that is the market we have
      Jan 8, 2:26 PM
    • Growfast: Ready to make another run on 1250. Monthly FED headwind is now out of the way.
      Jan 8, 2:28 PM
    • Robert Edwards: sold some NUGT 29.40 but my 29.50 sell was not hit. Decided to scalp a quick trade. Will buy again 29.16
      Jan 8, 2:29 PM
    • Robert Edwards: bot 29.11 on NUGT so back to 80%, will add if we drop further down
      Jan 8, 2:37 PM
    • Growfast: Just sold off my NUGT put insurance at .65. Insurance to protect against a big downside in NUGT cost me about .16. The downside risk I see
      Jan 8, 2:37 PM
    • Growfast: as minimal from here, which is why I took the insurance off the table, rather than riding it to expiration and just going to 0. Got most of
      Jan 8, 2:38 PM
    • Growfast: funds back from that position.
      Jan 8, 2:38 PM
    • Robert Edwards: sold some NUGT 29.48, will add more on weakness
      Jan 8, 2:46 PM
    • shopvac20: what is the catalysis for gold to move up... we are seemingly struggling to stay a float .. debt ceiling debate might help, anything else?
      Jan 8, 2:47 PM
    • Robert Edwards: Added more NUGT 29.13 and sold out 29.48 to lower back to 80% position
      Jan 8, 2:48 PM
    • Robert Edwards: NEM just made a new low of day. GDX hanging in. gold staying above 1220 after also making a margin new low of day down to 1217.70
      Jan 8, 2:53 PM
    • Robert Edwards: traders saw minutes & sold off PBR (Brazilian company) to minor new LOD. Bet Fed governors never knew they had so much influence so far away
      Jan 8, 2:56 PM
    • Robert Edwards: Newsflash! Over the next 12 months we r going to taper! I know it is a surprise to all.....NOT! How is this news?
      Jan 8, 3:04 PM
    • Robert Edwards: Bottom line, GDX held last week's gap area really well, despite making marginal new low today of 5 cents. 21.50 area (21.49) held
      Jan 8, 3:08 PM
    • Robert Edwards: We have an artificial economy propped up by Fed. So positive stats may not be real. Can't separate real from manufactured by low rates.
      Jan 8, 3:12 PM
    • Robert Edwards: Did I say we would likely rally late today post report, after the selloff. I see 29.70 NUGT on corner of my screen and gold just popped
      Jan 8, 3:13 PM
    • Growfast: New High of Day in Gold. Shop - for drivers of higher Gold, see our thread from last week. Both RE and I posted a lot on this topic.
      Jan 8, 3:13 PM
    • Robert Edwards: Making future decisions (taper) based on fake stats that were manufactured, makes little sense. Fed does not know what they r doing
      Jan 8, 3:15 PM
    • Robert Edwards: sold some NUGT 29.69, back to 50% will hold overnight. If we dip to 29.25 will add some back
      Jan 8, 3:19 PM
    • Robert Edwards: Right now, gold and miners are doing a slow fade. Slow fade is my best market as taking profits on small rises, can buy back low again
      Jan 8, 3:22 PM
    • Robert Edwards: Gold has rallied about $10 off the marginal new low made post report. Looking better for end of week rally.
      Jan 8, 3:24 PM
    • Robert Edwards: sold some NUGT 29.75 & 29.80 and bot back 29.51 and will add below 29.50
      Jan 8, 3:43 PM
    • shopvac20: Minors are underperforming... Needs to climb to close
      Jan 8, 3:45 PM
    • Robert Edwards: bot more NUGT into closing weakness, 29.36 and 29.26 so 80% long NUGT again holding till tomorrow. lots of GDX and NEM holding too
      Jan 8, 4:03 PM
    • Robert Edwards: Started a new thread as this one is getting too long.
      Jan 9, 9:14 AM