• Robert Edwards
    Bullish case for $GDX, $GLD, $NUGT, $NEM, $ABX, $GG, but not $DUST, click http://seekingalpha.com/p/1imgt
    1/4/14
    Reply (276)
    • Growfast: RE - Fascinating article and references, especially the piece on JPM. Thank you for putting this together. Always a great learning adventure
      1/5/14
    • 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.
      1/5/14
    • glaserdx: Thanks RE for history & guidance. JPM's gold mkt manipulation may now be in bull's favor...
      1/5/14
    • sszaheer: Gold 1242 @ 8pm good start as predicted by RE. looking forward Monday morning
      1/5/14
    • 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.
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • Robert Edwards: Check out http://seekingalpha.com/a/15bpt for disappearing warehouse inventories of gold that should support prices going forward
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • Growfast: yield similar results to last week.
      1/6/14
    • 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
      1/6/14
    • glaserdx: Grow-pls let us know call option details if u purchase- thank u
      1/6/14
    • Growfast: Nice open; would love to see 1260 and miss opportunity to buy calls from lower prices
      1/6/14
    • shopvac20: with you on that !
      1/6/14
    • Robert Edwards: sold some more NUGT above 31 and a bit of GDX above 22, as miners are underperforming a bit now vs. gold.
      1/6/14
    • davePx: Nugt has a lot of resistance this morning...still weak
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • Robert Edwards: Based on 19 cent dividend payout most charts now show 22.02 as the June GDX low
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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.
      1/6/14
    • 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
      1/6/14
    • davePx: Sold some nugt 31.75....nice pop watching closely
      1/6/14
    • Growfast: Wow! Someone had a large order lower at 1211. bounced right back to 1232 Gold and climbing.
      1/6/14
    • Growfast: With this volatility, we should blow through 1250
      1/6/14
    • shopvac20: what just happened ? from what i saw look like gold just crashed to 1215 ?? no back to 1236 ?
      1/6/14
    • Robert Edwards: 4000 contract order hit gold futures market in February gold and knocked gold down temporarily. Volatility!!!
      1/6/14
    • Robert Edwards: I dumped my entire remaining shares and am now flat. will sit and reappraise
      1/6/14
    • Robert Edwards: Kicking myself that I did not buy some dust in low 37s.
      1/6/14
    • 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.
      1/6/14
    • 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
      1/6/14
    • Growfast: MarketWatch headline just said Gold dropped based on ISM and Factory Order data. Must be convincing someone that next taper will happen.
      1/6/14
    • davePx: Caught nugt at 30.85
      1/6/14
    • 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
      1/6/14
    • davePx: This is scary stuff!
      1/6/14
    • Growfast: Trying to shake out longs and keep fear in place.
      1/6/14
    • 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
      1/6/14
    • Robert Edwards: After the 4000 order sell, we did 8000 orders of buys, over the next couple minutes. Still, don't like the action
      1/6/14
    • davePx: Just sold nugt 31.24
      1/6/14
    • Robert Edwards: I will research and try to see what happened there.
      1/6/14
    • 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.
      1/6/14
    • 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
      1/6/14
    • davePx: Bought30.9
      1/6/14
    • 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
      1/6/14
    • davePx: Just sold nugt 31.2
      1/6/14
    • Robert Edwards: Bot NEM 24.13 but dumped at 24.23, will only scalp right now. not holding
      1/6/14
    • ptTL9: anyone is buying/trading DUST today?
      1/6/14
    • 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.
      1/6/14
    • 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
      1/6/14
    • davePx: Narrow trading at best
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • davePx: What next?
      1/6/14
    • davePx: Could turn into a heathy up trend today
      1/6/14
    • 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.
      1/6/14
    • 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.
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • Robert Edwards: and in 5 seconds over 4100 contracts traded. 8000 buys the other way means over 12,000 contracts in a couple minutes.
      1/6/14
    • 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.
      1/6/14
    • 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.
      1/6/14
    • Robert Edwards: 4100 contracts traded in 5 seconds ($1/2 billiion dollars) and 18000 contracts in 3 mintues in feb gold ($2.25 billion)
      1/6/14
    • 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
      1/6/14
    • 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-
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • davePx: This is a crap shoot today
      1/6/14
    • 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?
      1/6/14
    • Robert Edwards: I continue flat in here. Just watching. Any thoughts?
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • Growfast: for this, but still looking to see if the strength comes in again.
      1/6/14
    • melanielshop: Too flaky for me...will wait until NUGT drops below 30
      1/6/14
    • davePx: Looking to see this thing close neutral and then up today
      1/6/14
    • Growfast: Article on the downward move this morning here: http://on.mktw.net/1gB33X3
      1/6/14
    • ricejudicata: Grow/Re, thanks for the articles over the weekend. Hoping for another strong week going into the debt ceiling debate/Chinese New Year.
      1/6/14
    • 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
      1/6/14
    • 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.
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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,
      1/6/14
    • Growfast: could free up a better approach to breaking through 1250.
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • Robert Edwards: All those traders (gold bulls) who got stopped out --- will they be anxious to buy right back in now? I doubt it.
      1/6/14
    • 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
      1/6/14
    • Robert Edwards: algorithm computers now dominate trading so flash crashes are inevitable now I guess. still not easy to stomach when they occur
      1/6/14
    • Robert Edwards: they turned gold down right into the close in 7 minutes, right on schedule, but miners are holding up well right now
      1/6/14
    • Growfast: Off topic, but just bot $P Puts expiring Feb 7, 30 strike at 1.70.
      1/6/14
    • 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
      1/6/14
    • 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?
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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.
      1/6/14
    • 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
      1/6/14
    • Robert Edwards: buying 20% of NUGT position at 30.80 area working an order.
      1/6/14
    • Robert Edwards: got 10% of NUGT shares filled 30.83 so far
      1/6/14
    • Robert Edwards: bot another 1/3 gdx at 21.96
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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.
      1/6/14
    • 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
      1/6/14
    • Robert Edwards: A little cautious on NUGT for now and will slowly reposition back into it by adding back in on dips.
      1/6/14
    • 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
      1/6/14
    • Robert Edwards: bot NEM again 24.12
      1/6/14
    • 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
      1/6/14
    • Robert Edwards: caught some more NEM 24.03. Today NEM seemed to outperform and was above 24.50 earlier.
      1/6/14
    • 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.
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • 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+
      1/6/14
    • shopvac20: a rally to close would be nice, happy to get through the day considering the flash crash... make another run at 1250 tomorrow ???
      1/6/14
    • 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
      1/6/14
    • Growfast: Agree. Still see us intact on bullish move - so far - watching for signs of needing to go for protection
      1/6/14
    • 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.
      1/6/14
    • davePx: Also agree ...if this mkt was going to kill gold they have had plenty of chances...good to see this position holding
      1/6/14
    • 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
      1/6/14
    • Robert Edwards: Then I find this article also saying it was bullish, click http://bit.ly/1bM0ZWV
      1/6/14
    • 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
      1/6/14
    • 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
      1/6/14
    • Growfast: was a rather normal, uneventful day appearing to continue to support the bullish move and charts.
      1/6/14
    • 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.
      1/6/14
    • 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,
      1/7/14
    • 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?
      1/7/14
    • 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
      1/7/14
    • 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
      1/7/14
    • 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
      1/7/14
    • Growfast: it may be time to lighten the load and get some insurance on the downside (or DUST as Left likes to do)
      1/7/14
    • 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
      1/7/14
    • 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.
      1/7/14
    • 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
      1/7/14
    • 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
      1/7/14
    • 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
      1/7/14
    • shopvac20: gold cant seem to find its footing, support was found through the night, but the weakness this morning is worrisome.
      1/7/14
    • 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.
      1/7/14
    • 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.
      1/7/14
    • 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
      1/7/14
    • Growfast: Move my bid to .80 and got the fill on the 30.5 calls.
      1/7/14
    • 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
      1/7/14
    • 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
      1/7/14
    • 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)
      1/7/14
    • Growfast: There we go. Now moving north again on Gold.
      1/7/14
    • 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
      1/7/14
    • ptTL9: Took profit from yesterday's DUST trade today
      1/7/14
    • 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
      1/7/14
    • ptTL9: interesting read: w.kitco.com/news/2014-01-07/Gold-Weaker-on-Corrective-Pullback-from-Recent-Gains.html
      1/7/14
    • ptTL9: have not seen Lefty's post
      1/7/14
    • Growfast: Lefty is probably out fishing. We'll probably see his report later today.
      1/7/14
    • 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.
      1/7/14
    • shopvac20: GLD, GG, SLV all on the list... trying to hold ground, needs to move back above 1230
      1/7/14
    • 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
      1/7/14
    • 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
      1/7/14
    • 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
      1/7/14
    • Growfast: take profits. Move up with no dip and I lose a few bucks on insurance.
      1/7/14
    • Growfast: I now have long positions in NUGT and NEM. I also have calls and puts at 1/2 of my NUGT holdings.
      1/7/14
    • Growfast: Now just looking for Gold to do something - up or down, but bias to the upside.
      1/7/14
    • 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.
      1/7/14
    • 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
      1/7/14
    • 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
      1/7/14
    • 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
      1/7/14
    • 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.
      1/7/14
    • davePx: I wonder if today's action includes payback for yesterday's big sell order?
      1/7/14
    • 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
      1/7/14
    • Growfast: provide some profit.
      1/7/14
    • Robert Edwards: bot a few nugt 29.51, will add more on any weakness
      1/7/14
    • Robert Edwards: selling some NUGT 29.80 if it will hit me
      1/7/14
    • 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
      1/7/14
    • melanielshop: finally
      1/7/14
    • davePx: May be a mistake but will hold into tomorrow morning
      1/7/14
    • 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.
      1/7/14
    • Growfast: Looking for another run on 1250+.
      1/7/14
    • Robert Edwards: It was critical that we got some late day strength today. Came at the last possible moment.
      1/7/14
    • shopvac20: Minors worked hard today.. Hopefully it will prove to be a hard fought but constructive day
      1/7/14
    • 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
      1/7/14
    • 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
      1/7/14
    • davePx: Nugt investors are as we know so speculative...sensitive bunch. We'll see what tonight brings and the morning.
      1/7/14
    • Growfast: Agree. This is why I think today was constructive on rebuilding for another attempt on 1250.
      1/7/14
    • 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
      1/7/14
    • 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
      1/7/14
    • 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.
      1/7/14
    • nicholasvngo: Omg I have 2000 shares @ $42.82 I an not sure when it is back to golden era
      1/7/14
    • 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.
      1/7/14
    • 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
      1/8/14
    • shopvac20: We were making progress then something happened, anyone know why ???
      1/8/14
    • 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
      1/8/14
    • 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
      1/8/14
    • 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
      1/8/14
    • 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
      1/8/14
    • Robert Edwards: Loaded up NUGT 29.50 so now back in full NUGT position but will sell out half position on any strength.
      1/8/14
    • 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
      1/8/14
    • 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
      1/8/14
    • 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
      1/8/14
    • 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
      1/8/14
    • 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
      1/8/14
    • Robert Edwards: Vantage Point is still getting buy signals for gold. Even for Thursday. Buy signals all week, check out http://bit.ly/19dEnnv
      1/8/14
    • 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
      1/8/14
    • 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
      1/8/14
    • shopvac20: This is some extraordinary weakness in gold, again a worrisome start to the day. Cant seem to find any support.
      1/8/14
    • 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
      1/8/14
    • Robert Edwards: we gapped down pretty good on charts on opening, need gold to pop so we try and fill the gap some.
      1/8/14
    • Robert Edwards: NEM broke yesterday's low by a dime, GDX by a nickel. gold back above 1220, maybe we work higher from here
      1/8/14
    • 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
      1/8/14
    • 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
      1/8/14
    • ptTL9: buying dust on weakness
      1/8/14
    • 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
      1/8/14
    • 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
      1/8/14
    • Growfast: Market indexes are down, Treasury's getting hammered. Wonder where the money flow is headed. Gold and Miners on sale.
      1/8/14
    • 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
      1/8/14
    • 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.
      1/8/14
    • 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
      1/8/14
    • Robert Edwards: NEM just made a new LOD by a couple pennies. failure to launch but don't want to cram down either
      1/8/14
    • 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
      1/8/14
    • Robert Edwards: bot some PBR 12.77, will add on further weakness, buying slowly catching falling knife
      1/8/14
    • Robert Edwards: bot some NUGT 29.35 that was sold 29.69
      1/8/14
    • Robert Edwards: sold some NUGT 29.61, will keep buying on dips and selling on rallies
      1/8/14
    • Robert Edwards: holding half my NUGT position and will add other half if we can take out 30 today, otherwise will add on dips
      1/8/14
    • davePx: Moody's downgraded expectation for gold prices in 2014
      1/8/14
    • 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
      1/8/14
    • 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
      1/8/14
    • 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
      1/8/14
    • Robert Edwards: Still looking for a dip on the 2:00 p.m. EST announcement of Dec Fed meeting minutes to buy NUGT on.
      1/8/14
    • 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
      1/8/14
    • Robert Edwards: bot 1/4 of NUGT position back at 29.60
      1/8/14
    • Robert Edwards: minutes to be released in one minute
      1/8/14
    • Robert Edwards: bot more NUGT 29.21, still watching for more weakness to add
      1/8/14
    • Growfast: Bot more NUGT 30.5 calls at 0.60.
      1/8/14
    • Robert Edwards: bot more NUGT 29.16, now 80% of NUGT position on, trying to get 29.00 for full position
      1/8/14
    • Robert Edwards: hopefully we bottomed. Instead of adding more NUGT, added PBR 12.72
      1/8/14
    • 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,
      1/8/14
    • 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
      1/8/14
    • 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
      1/8/14
    • 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.
      1/8/14
    • 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
      1/8/14
    • 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.
      1/8/14
    • Robert Edwards: and why will we likely get a late day rally back up. Because that is the market we have
      1/8/14
    • Growfast: Ready to make another run on 1250. Monthly FED headwind is now out of the way.
      1/8/14
    • 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
      1/8/14
    • Robert Edwards: bot 29.11 on NUGT so back to 80%, will add if we drop further down
      1/8/14
    • 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
      1/8/14
    • 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
      1/8/14
    • Growfast: funds back from that position.
      1/8/14
    • Robert Edwards: sold some NUGT 29.48, will add more on weakness
      1/8/14
    • 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?
      1/8/14
    • Robert Edwards: Added more NUGT 29.13 and sold out 29.48 to lower back to 80% position
      1/8/14
    • 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
      1/8/14
    • 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
      1/8/14
    • 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?
      1/8/14
    • 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
      1/8/14
    • 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.
      1/8/14
    • 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
      1/8/14
    • 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.
      1/8/14
    • Robert Edwards: Making future decisions (taper) based on fake stats that were manufactured, makes little sense. Fed does not know what they r doing
      1/8/14
    • Robert Edwards: sold some NUGT 29.69, back to 50% will hold overnight. If we dip to 29.25 will add some back
      1/8/14
    • 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
      1/8/14
    • Robert Edwards: Gold has rallied about $10 off the marginal new low made post report. Looking better for end of week rally.
      1/8/14
    • Robert Edwards: sold some NUGT 29.75 & 29.80 and bot back 29.51 and will add below 29.50
      1/8/14
    • shopvac20: Minors are underperforming... Needs to climb to close
      1/8/14
    • 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
      1/8/14
    • Robert Edwards: Started a new thread as this one is getting too long.
      1/9/14
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