Seeking Alpha
  • Robert Edwards
    Miners And Gold Strong, But Soon To Hit Resitance $GDX, $NUGT, $DUST
    Feb 13, 5:36 PM
    Reply (102)
    • Growfast: thanks, RE! Good article. Did you see the release on CLF? Beat by .40 on EPS and beat on Revenue. Sweet!
      Feb 13, 6:38 PM
    • shopvac20: thanks RE.. also agree that this bull run is not over, tho we are due for a short term corrections.holding small position in DUST currently
      Feb 13, 8:34 PM
    • Robert Edwards: Yes, I guess I should have kept my full CLF position through the report but I got out of half because we ran up into earnings release.
      Feb 13, 9:03 PM
    • Growfast: Well, if the 1 year chart tells the story, there is usually a good run for a while after the earnings releases. Gold still looks strong
      Feb 13, 11:13 PM
    • Growfast: tonight so there could be more running tomorrow. I raised some cash so may be able to make a couple day trades if the opportunity looks good
      Feb 13, 11:14 PM
    • Growfast: until we get the pullback. Really curious to see what NUGT, JNUG, GDX and GDXJ look like in price action in the morning.
      Feb 13, 11:14 PM
    • shopvac20: Gold hit 1210 in late night/early morning trading. What a run, when and where to get back in. Might look for some scalping opportunities
      Feb 14, 3:58 AM
    • shopvac20: 1310 above not 1210
      Feb 14, 4:08 AM
    • Toastypro: Happy Valentine's Day Gold Rush, 1316 up we go
      Feb 14, 8:49 AM
    • davePx: Still looking at 52-54 nugt
      Feb 14, 9:04 AM
    • davePx: Bought some Dust in PMkt
      Feb 14, 9:05 AM
    • Growfast: This rally is amazing in that we still have not hit strong resistance to push us back, even after the 1 day stall out. Looks like this may
      Feb 14, 9:15 AM
    • Growfast: push 1340 or so.
      Feb 14, 9:15 AM
    • shopvac20: added just at 20.06 ... dont want to hold for long, just looking for a minor pullback
      Feb 14, 9:20 AM
    • Robert Edwards: I was bullish from 1180 to 1300, for $120, but got bearish gold at 1300, and wrong by $20 so far. Will see if we stop at 26.50 in GDX or
      Feb 14, 9:24 AM
    • Robert Edwards: if it wants to go for 28. Still looking for topping action by Monday, either way. Eventually GDX could challenge 31 but not straight up
      Feb 14, 9:26 AM
    • Robert Edwards: When DUST fell from low 50s, it stalled on the fall at $37.50 to $42, then again at $27.50 to $32. Should stall again $17.50 to $22
      Feb 14, 9:27 AM
    • Robert Edwards: Bot a little DUST at 20 in premarket and will watch closely to see if 20 is support or we have to dip a bit lower. If we would go straight
      Feb 14, 9:29 AM
    • Robert Edwards: to 28 in GDX, DUST could fall to 16, but should then bounce back quickly to 22 to 24. Don't see that happening by Monday though
      Feb 14, 9:30 AM
    • Robert Edwards: Last October GDX hit a high of 26.66 and turned lower. We just hit 26.61 so we are very close.
      Feb 14, 9:46 AM
    • Robert Edwards: Added some CLF 23.10, will add on any more weakness.
      Feb 14, 9:51 AM
    • davePx: Sold some Nugt at 52
      Feb 14, 10:17 AM
    • davePx: Starting to look at Dust
      Feb 14, 10:19 AM
    • davePx: Bought more DGAZ 3.54
      Feb 14, 10:22 AM
    • Robert Edwards: GDX went thru stops above 26.66, hitting 26.68, but very measured move to top side now, and may stop here or 26.75 before retesting lows
      Feb 14, 10:29 AM
    • Robert Edwards: At 20.15, sold out big position in DUST that I had bot at 20 down to 19.48. Will wait now for new low to add
      Feb 14, 10:33 AM
    • Gettin'Long: in on $DUST @ 19.95...what's a good pullback target here?
      Feb 14, 10:33 AM
    • Robert Edwards: That lowered my average price on remaining. Need to do that several more times as GDX tries to top out here.
      Feb 14, 10:34 AM
    • Robert Edwards: Glad to see there is indeed two way action and not just up up and away n GDX. Two way action is needed for my scalping strategy to work well
      Feb 14, 10:35 AM
    • Robert Edwards: NUGT went from 52 to 50.20 really fast. That is the problem with these leveraged ones that get expensive, it moves down fast. DUST is cheap
      Feb 14, 10:37 AM
    • zaw77: Add more $DGAZ below 3.60 and $DUST below $20
      Feb 14, 10:37 AM
    • Robert Edwards: and so DUST moves down slow. When it gets extended it is dangerous staying in the leveraged side with the wins as it can evaporate quickly
      Feb 14, 10:37 AM
    • Robert Edwards: NUGT was in the 41s just two days ago and today hits 52 plus. Pretty amazing. Can be back at 41 real easy
      Feb 14, 10:38 AM
    • Robert Edwards: Gold may have topped for awhile as it fell $5 off the high in here and still falling
      Feb 14, 10:39 AM
    • Robert Edwards: I will be very happy if GDX stops at 26.68 to 26.75 area today and Monday & then corrects some. It would be much healthier for bulls too
      Feb 14, 10:47 AM
    • Robert Edwards: if we don't get too overbought and have some consolidation of gains before trying to move higher in GDX.
      Feb 14, 10:47 AM
    • Robert Edwards: So far it is looking like we are looking like "B" on the chart as mentioned in my article, having problems getting past 26.50 area in GDX
      Feb 14, 10:48 AM
    • Jeremy49: RE I think markets are closed Monday...I could be wrong though
      Feb 14, 10:49 AM
    • Growfast: Jeremy, yes, Presidents Day is Monday and US markets are closed according to Fidelity.
      Feb 14, 10:50 AM
    • davePx: I am 90% out of Nugt now adding some dust but at only 20% of what I will go back into Nugt
      Feb 14, 10:52 AM
    • Robert Edwards: That is right, I forgot, Monday is holiday so everything I said for Monday, moves to Tuesday for GDX. I am absent minded professor sometimes
      Feb 14, 10:53 AM
    • Robert Edwards: Gold will trade on GLOBEX on Monday and may hit a high above $1325 and then fall back. I will be watching and possibly trading gold Monday
      Feb 14, 10:54 AM
    • Gettin'Long: markets closed monday
      Feb 14, 10:55 AM
    • Robert Edwards: I am always watching GLOBEX and trading futures on holidays so I don't think of stock market holidays as holidays
      Feb 14, 10:55 AM
    • Gettin'Long: markets closed moday
      Feb 14, 10:55 AM
    • Robert Edwards: Hey, GDX does go both ways!
      Feb 14, 10:56 AM
    • Robert Edwards: Should have held onto my 20 and below DUST shares but I got a bit spooked and was too big. Could have saved a few low DUST for this pop tho
      Feb 14, 10:58 AM
    • dan1981: Re wat price to accumulate Dgaz? I have entered at 3.65 one third of qty I plan to buy.
      Feb 14, 11:04 AM
    • Robert Edwards: bot a few NUGT 49.85 for quick scalp
      Feb 14, 11:05 AM
    • Robert Edwards: sold half NUGT 50.33
      Feb 14, 11:05 AM
    • Jeremy49: RE/Grow - Are we topping out yet in NG or is it going higher? Waiting for the move down and up DGAZ
      Feb 14, 11:06 AM
    • Robert Edwards: I believe we are very very close to top in NG, with bottom in DGAZ somewhere from here down to 50% retracement at 3.33
      Feb 14, 11:11 AM
    • gaklaw: added DGAZ at 3.55 - anything I can buy in here feels like a gift!
      Feb 14, 11:28 AM
    • Robert Edwards: I want to see GDX close below the opening price today of 26.42. We r there now. Will sell remaining NUGT on this rally
      Feb 14, 11:32 AM
    • Robert Edwards: sold last NUGT 50.75, now bot 49.64
      Feb 14, 11:51 AM
    • Robert Edwards: buy order in NUGT 49.02 to add a little
      Feb 14, 11:52 AM
    • Robert Edwards: Got lucky and caught 3.53 low on DGAZ. maybe we just bottomed
      Feb 14, 11:53 AM
    • Robert Edwards: caught more CLF 22.80, now back above 23
      Feb 14, 12:16 PM
    • Robert Edwards: bot some NUGT 29.02 and 28.87, will dump some on a rally
      Feb 14, 12:18 PM
    • Robert Edwards: sold some NUGT 49.70,
      Feb 14, 12:26 PM
    • Robert Edwards: correction, that was 49.02 and 48.87 that I bot NUGT, I was thinking about DUST when I put the 2 in front
      Feb 14, 12:29 PM
    • Robert Edwards: If DUST falls back to 20.00 then I will buy some DUST again and on all dips below 20 if it chooses to fall more
      Feb 14, 12:30 PM
    • Robert Edwards: another storm this weekend in the northeast bringing snow is what is keeping ng up for now probably, but I see things warming up next week.
      Feb 14, 12:32 PM
    • Robert Edwards: I believe NG is likely going to top out by Tuesday (or Wednesday at the latest of next week. I am not worried about DGAZ at all.
      Feb 14, 12:33 PM
    • zaw77: RE - $NUGT above $50 - I didn't believe we will realy see it and already in Feb., great call...
      Feb 14, 12:33 PM
    • Robert Edwards: Dumped my remaining NUGT 49.80 so I will now wait for a dip in DUST to buy more there
      Feb 14, 12:34 PM
    • Robert Edwards: Future calls should get easier and easier now that we have history coming out of the bottom and support and resistance levels established
      Feb 14, 12:39 PM
    • Robert Edwards: so I am very encouraged that there will be a lot of good trades to do in the near future & beyond..
      Feb 14, 12:40 PM
    • Robert Edwards: Got out of NUGT 49.80 was too soon but I did not want to hang anything up here, so I guess I will buy DUST just under 20 if it goes there
      Feb 14, 12:41 PM
    • Growfast: Nice to see you having so much fun and capitalizing on these moves, RE. As we get a pullback and regain momentum, I think you are correct on
      Feb 14, 12:50 PM
    • Growfast: the trades being more predictable. Appears we are beyond the "lets hope gold moves up and makes the low a double bottom", but if it turns we
      Feb 14, 12:50 PM
    • Growfast: gotta bail.
      Feb 14, 12:51 PM
    • Growfast: For NG and DGAZ, the NG chart looks to be forming the classic head and shoulders pattern on the 5H chart. Perhaps not long before we see
      Feb 14, 12:52 PM
    • Growfast: 4.0 NG once it starts falling. Here in Houston, it is almost hot today - 70s. Southern states getting much warmer despite the storm in NE
      Feb 14, 12:53 PM
    • Toastypro: Bailed out UGAZ at 29.80. It was a tough trade
      Feb 14, 12:55 PM
    • gaklaw: I am loaded up on DGAZ - 3.83 avg, ready for the storms to clear, and ride this baby to 7! All red in account but feels like a coiled spring
      Feb 14, 12:59 PM
    • Toastypro: It is getting warmer in Mid Atlantic and snow is melting 47 degree. Followed RE and bot DGAZ
      Feb 14, 1:01 PM
    • Robert Edwards: big buy order in dust @ 20.20 so I bot 20.21
      Feb 14, 1:07 PM
    • Growfast: What an amazing run. I'm looking at a Gold chart Feb 6 to now. From that chart, it looks like it was nothing just to climb steadily to where
      Feb 14, 1:08 PM
    • Growfast: we are. After pullback, looks like we should be able to climb like that to 1400.
      Feb 14, 1:08 PM
    • Robert Edwards: G Sachs is still calling for big down year in gold. I guess this rally is just a mirage.
      Feb 14, 1:28 PM
    • Robert Edwards: finally dgaz pops up
      Feb 14, 1:34 PM
    • Toastypro: DGAZ 230K buy order pushing it up
      Feb 14, 1:37 PM
    • Growfast: Sorry guys, didn't mean to push it that much with my afternoon order :-) If only we could move the markets....
      Feb 14, 2:36 PM
    • gaklaw: Grow - Good strategy moving in slowly!- go ahead and buy your second 1/5 now and it will push me into green - thanks
      Feb 14, 2:44 PM
    • Gettin'Long: RE...are you holding the DUST into the weekend?
      Feb 14, 2:46 PM
    • shopvac20: Missed a lot of gun run this week on the sideline :( in DUST now at 20.06 (from this morning) but don't know if I wanna be. Whats next?
      Feb 14, 2:52 PM
    • Lefty6x6: holy sh!t -- I'm out in the woods for a while and everyone else is makin major $$ .. did you guys save any for me??
      Feb 14, 3:43 PM
    • vanebfbc: Already green in DGAZ and NG is still way above 5. Should be interesting next week on Tuesday!
      Feb 14, 3:43 PM
    • Lefty6x6: i'm gonna get dusty and hold I think.
      Feb 14, 3:43 PM
    • gaklaw: Lefty-been trying to play on your teeter totter, but a big fat kid(NUGT) has been holding down other end. Time to shove him off and go DUST
      Feb 14, 3:49 PM
    • gaklaw: ....wait a minute, that kid's not fat, his pockets are loaded with gold
      Feb 14, 3:53 PM
    • Toastypro: RE & Glow called DGAZ bottom today at 3.51. It was up since then. Thx guys!
      Feb 14, 3:54 PM
    • zaw77: I am also green in $DGZA, avg. $3.85
      Feb 14, 3:56 PM
    • Jeremy49: not green yet for me zaw ...3.93 avg :/
      Feb 14, 4:05 PM
    • vanebfbc: Great strength in gold today, but miner was way ahead of itself early. Missed a few opportunities this week but overall still green :)
      Feb 14, 4:07 PM
    • vanebfbc: I think those of us holding DGAZ average below 4 are in a much better position than last week. It barely budged these two days even if NG
      Feb 14, 4:09 PM
    • vanebfbc: spiked to nearly 5.4. There is much downside to NG price before March, IMHO. Those who are patient will be rewarded, just like gold miners.
      Feb 14, 4:11 PM
    • Robert Edwards: I am holding DUST over the weekend and will continue to add to DUST on dips and sell out some on rallies to adjust my average price lower
      Feb 15, 2:25 PM
    • Robert Edwards: I believe that either Friday or Tuesday, miners will make a short-term top that will allow DUST to pop up a bit from the $20 support area
      Feb 15, 2:26 PM
    • glaserdx: I am also holding DUST but got it to early at $21 so may have to reduce my avg.
      Feb 15, 3:43 PM
    • Robert Edwards: Just completed another article and started a new thread, click
      Feb 15, 5:27 PM