Seeking Alpha
  • Robert Edwards
    Still no bottom in $GDX, $NUGT, $JNUG, but maybe soon. Nice pop in $JDST, $DUST. Buying $UGAZ not $DGAZ. Watching $CLF, $FEYE, $TSLA
    7/31/14
    Reply (410)
    • Robert Edwards: I am still constructive on gold despite all of the weakness seen so far. I prefer scalping from long side (10 minute trades) but not holding
      7/31/14
    • Robert Edwards: overnight. I would like for Dec Gold to close at 5:15 p.m. EST today higher than 1285 and hopefully overcome 1290 overnight. But we have
      7/31/14
    • RCamuti: RE, what can we say, your bring in huge crowds. You should do a tour where you give advise. Like a stand-up, but for investors.
      7/31/14
    • Robert Edwards: already fallen a lot going into Friday so it would take maybe a number over 300,000 jobs to get much further selloff in gold IMHO. 250,000
      7/31/14
    • Robert Edwards: would be neutral and less than 250,000 we might rally. Regardless of the number, I am hopeful we close far off the low and r strong late in
      7/31/14
    • Robert Edwards: the day so I will be buying post report and holding into the close looking for late day strength no matter what occurs beforehand
      7/31/14
    • Robert Edwards: Finally, Dec Gold moves above 1285 and now needs to rally some into today's close.
      7/31/14
    • RCamuti: RE, is there a possibility that the rise in gold today toward the end of today is just a short covering move up?
      7/31/14
    • RCamuti: Or because bond yields continue to decrease due to the flight to safety because of the broad market sell off?
      7/31/14
    • Robert Edwards: I would call it profit-taking. Glad to see 1286 hit. Like yesterday's failure to move back above 1300, the weaker we end today the worse
      7/31/14
    • Robert Edwards: it is tomorrow. The less we rally overnight, the more likely they kill gold tomorrow. Big money should cover overnight some unless they r
      7/31/14
    • Robert Edwards: going to wait until after the employment report to cover on the weak print below 1280, hoping to get 1275 or lower. Last couple minutes in
      7/31/14
    • Robert Edwards: NG before report, they popped NG as they knew it was coming out bullish today and it did. The premarket move to 3.83 was also bullish
      7/31/14
    • Robert Edwards: slipping back to the 376s until 2 minutes before the report was a trick to get the bulls to take their loss pre-report and miss the rally
      7/31/14
    • Robert Edwards: Dec Gold had early low of 1285.90 and I would like us to end above that price as well as trade above 1286 in overnight action, to negate the
      7/31/14
    • Robert Edwards: 4000 contract kills they did to get gold to drop to 1283 & 1281.90. The final 1281.30 was not a big order trade but stops running.
      7/31/14
    • Robert Edwards: Long NG again 3.837, will add on further weakness
      7/31/14
    • Robert Edwards: If we stay above 1286 then everyone who sold down there is a loser and increases chances of more short-covering tomorrow.
      7/31/14
    • Robert Edwards: I bought on all three dips which were new lows of the day but now we r back above 1286 & just hit 1287.20....that's what I am talking about!
      7/31/14
    • Robert Edwards: Under 1285 today was a buy because even if we fall to 1280 or 1275, should rally back to at least 1285 to let you out today or tomorrow
      7/31/14
    • RCamuti: JDST came off the rails a little towards the close.
      7/31/14
    • Robert Edwards: gold trades in a minimum $10 range so you can expect lots of move off the bottom of $10. Thus I scalp from the long-side. Position trades
      7/31/14
    • Robert Edwards: would not work, but scalps work great, fading the down moves and the more extreme the down moves the better to fade.
      7/31/14
    • Robert Edwards: There are thousands of trading methods and books, but very little on scalping. That is what I do best & if I opened a chatroom, I would
      7/31/14
    • Robert Edwards: concentrate on scalping. All you need to know is if probabilities favor scalping from long side or short side, which may or may not be the
      7/31/14
    • Robert Edwards: same as the trend. Right now trend in gold is down. Scalping probabilities strongly favor scalping from long side (10 minute trades).
      7/31/14
    • RCamuti: Is 5:15pm still your mark for the above 1285 close today? Or since that level was breached it doesnt matter anymore?
      7/31/14
    • Robert Edwards: NUGT/JNUG/DUST/JDST were designed for daytraders and scalpers. Also work for very short-term swing traders of 1-3 days maybe. Thus my
      7/31/14
    • Robert Edwards: interest in these triple leveraged gold ETFs. Right after Dec Gold hit 1287 it gave a sell signal and I was typing and missed the trade.
      7/31/14
    • Robert Edwards: However, on a longer term cycle, hit buy price perfectly at 1283. Will watch to see if we can recover back to 1287 now into end of day.
      7/31/14
    • Robert Edwards: It matter right at 5:15 EST. Getting above early is better than not getting there, but the close is vitally important!
      7/31/14
    • Robert Edwards: closing 1286 or higher is of greater importance than 1285. Miss both of these and I will be bummed!
      7/31/14
    • Robert Edwards: There has been an imbalance all day of greater number of sell orders vs. buy orders, which shows negative bias by the market & tends to
      7/31/14
    • Robert Edwards: limit rallies. Just calculated Dec Gold is vulnerable to a low tick of 1260 on this swing down, but should trade no worse than 1273 Friday.
      7/31/14
    • Robert Edwards: Today's action lowers the most likely trading low on negative reaction on Friday from 1280 to 1273 with low Monday or Tues of 1260 possible.
      7/31/14
    • Robert Edwards: Trading below 1260 calculated to be less than 5%. When we bottom, looking for $35 rally quickly back up, just add to the low price.
      7/31/14
    • RCamuti: RE, just to clarify, is it your expectation that gold/gold miners will continue lower at least till we get to the report tomorrow?
      7/31/14
    • RCamuti: Do you think continuing lower into Monday and Tuesday is a real possibility?
      7/31/14
    • RCamuti: Sorry for grilling you, just trying to get a feel for where you think this particular market is heading.
      7/31/14
    • zaw77: I sold 20% of JDST in after market at $10.92 bought $JNUG at 24.30 now 60% in JDST and 40% JNUG
      7/31/14
    • RCamuti: December gold couldn't hold your target of 1285, at least as of now.
      7/31/14
    • Robert Edwards: RC, I have no expectation we rally or selloff going into the report. I would like to get some space off the bottom so harder to hit stops
      7/31/14
    • RCamuti: I believe a goodt to strong jobs number will only bolster the Dollar & propel interest rates higher, unless there is another flight to bonds
      7/31/14
    • Robert Edwards: I expect for us to get back above 1285 and hopefully 1286 and to trade 1285 to 1290 before the morning report, but I may not get my wish.
      7/31/14
    • Robert Edwards: The weaker we are pre-report, is more concerning for bulls, as shows bears are confident and pressing market lower before report comes out.
      7/31/14
    • Robert Edwards: What we did today was not that damaging to bull case but bulls need to see the integrity of 1280 remain intact and get closer to 1290
      7/31/14
    • RCamuti: I see that logic.
      7/31/14
    • RCamuti: RE, great stock talk today with you. Always enjoying sharing ideas with you. I will be leaving now, and checking back in later tonight.
      7/31/14
    • Robert Edwards: RC, I need to do more research which I might not get a chance to do before the weekend, but I am very suspect of the recent dollar rally.
      7/31/14
    • RCamuti: I will be checking CNBC Int. starting @ 10:30 till about 2. Will post further then.
      7/31/14
    • Robert Edwards: Initially it was Euro weakness that solely inspired US Dollar to rally. Euro is soon approaching better support and we could get reversal
      7/31/14
    • Robert Edwards: off support, especially if Russian sanctions talk cools down a bit. The dollar got some momentum & then began gaining across all currencies
      7/31/14
    • Robert Edwards: but I don't know how lasting this rally is and see a potential reversal coming that would be favorable to gold. Don't yet know the odds of
      7/31/14
    • RCamuti: Last note, ECB might be more inclined to stimulate more, given the weakness in their markets recently, the low inflation, & Russia problems.
      7/31/14
    • Robert Edwards: the dollar turning back down near-term, and that is what I need to calculate, to see if early non-confirmations of dollar rally changed any.
      7/31/14
    • Robert Edwards: Right now US Dollar is benefiting from being the best house in a bad neighborhood. Don't see the neighborhood improving anytime soon.
      7/31/14
    • glaserdx: Grow & raider - a belated thanks for the AAPL update and guidance. Got caught up in work
      7/31/14
    • RCamuti: RE, one more thing, what are your thoughts of the other economic reports coming out tomorrow and its price on gold/gold miners?
      7/31/14
    • RCamuti: Tomorrow is Motor Vehicle Sales, Employment, Personal Income, PMI Manufacturing, Consumer Sentiment, ISM Manufacturing & Construction Spend.
      7/31/14
    • Robert Edwards: Those other reports I don't know what is expected and don't have time to research. I am more concerned about technical than fundamentals
      7/31/14
    • Robert Edwards: right now and technicals are not looking good. Traded around 1283.10 at EOD, similar to 1:30 close but below 1285 & 1286 so I am bummed
      7/31/14
    • RCamuti: Sorry RE, I noticed that as I was researching for tomorrow. Lets talk later and tomorrow and put our heads together for some good trades.
      7/31/14
    • RCamuti: RE, I couldn't help but notice the pressure on the oil market over the last few days, especially now that the US is exporting.
      7/31/14
    • RCamuti: I am thinking that the relationship of oil and gold is also putting the same downward pressure on gold. Any thoughts?
      7/31/14
    • Robert Edwards: Oil has more recently become an inflation hedge and proxy for gold. So oil falling is not good for gold. Crude could bottom by Tuesday
      7/31/14
    • Robert Edwards: with Sept Crude at 98, could bottom at 95 area. Looking more and more that gold might bottom on nest Tuesday if gold is weak on Friday.
      7/31/14
    • RCamuti: Israel and Hamas 72 hour seize fire should put additional pressure on gold.
      8/1/14
    • RCamuti: Fed Chair. Fisher said this AM on CNBC that Fed is closer to raising rates than originally thought based on data. More pressure for gold.
      8/1/14
    • RCamuti: Interest rates on the 10 year continue to climb in the pre-market. Even more pressure for gold.
      8/1/14
    • RCamuti: RE, how high did gold get last night in overnight trading? Did the bulls show any life?
      8/1/14
    • shopvac20: i saw 1285 as the high last night... if we break lower might run a little before finding support
      8/1/14
    • Robert Edwards: Ran stops making a slightly new low than yesterday, about 5 minutes before the jobs number is announced, and then bounced.
      8/1/14
    • Robert Edwards: Not strong overnight, but gold has held at 1281 so far. Still feel confident 1273 is worst case scenario for a low today
      8/1/14
    • Robert Edwards: Everything is so bearish, I guess it is bullish. Number came in a small bit weaker than expected, as many guests had predicted on CNBC
      8/1/14
    • Robert Edwards: No excuse to sell off based on jobs number so now gold has to decide if it wants to rally or not on its own. Needs to overcome 1290
      8/1/14
    • Robert Edwards: Running stops early with a large order sell program just 5 minutes before report and then bouncing couple dollars was bullish and increased
      8/1/14
    • Robert Edwards: chances gold would rally post report. Someone knew again that the number was weak and ran the stops early to scare bulls out pre-report
      8/1/14
    • Robert Edwards: touched just above 1290 in Dec Gold but sold off a bit from there. Need to get to 1295 and then the bottom may be in on this downswing
      8/1/14
    • Robert Edwards: Nat gas rallied to 3.890 after injection report yesterday but fallen to 3.782 in premarket today, nearly 11 cent drop off, pretty sick!
      8/1/14
    • Robert Edwards: I am long again just under 3.800 but puked out about the fact no rally ever holds in NG. So far we have gapped down and need to rally to
      8/1/14
    • zaw77: Hmm, any reports more today which could make more bearish move down ?
      8/1/14
    • Robert Edwards: low 3.84s to fill gap. Regardless how weak we are today, I am projecting a strong up day on Monday in NG and UGAZ is a buy today IMHO
      8/1/14
    • Robert Edwards: The employment report was the key report today and any other report just noise. Anybody looking for 1200 gold any more bullish now?
      8/1/14
    • Robert Edwards: Yesterday I had to look at 1260 as potential low with Friday low of 1273, vs. 1280 bottom predicted before. I am now raising bottom to 1273
      8/1/14
    • Robert Edwards: and we should hold premarket 1281 low of day. If we get to 1295 today then I say 1281 is low and 1280 prediction right on.
      8/1/14
    • Steven Couche: The jobs number was right down the middle, gold has floated lower the last few days. Fridays are normally pretty docile though
      8/1/14
    • Robert Edwards: Gold is staying above 1286 and 1285 so far post report, but would like to see more rally above 1290 to cement the lows
      8/1/14
    • zaw77: Today is friday, which usually is bulls day for Gold, I don't see any reason for today why $DUST/JDST should makes new highs, any thoughs
      8/1/14
    • Robert Edwards: Agree with you Zaw. Fridays tend to be bullish and after a few down days, all the more reason to close up today, hopefully 1292 to 1295
      8/1/14
    • Robert Edwards: Looks like a day to dump JDST above 10.50 in anticipation of buying back below 10 late today or early next week? Thoughts?
      8/1/14
    • AlphaOne777: RE, what are you expecting in JNUG today? Are you expecting the close today to be greater than any opening gap up? TKS
      8/1/14
    • Robert Edwards: Need a stop running buying surge above 1290 to get gold moving up
      8/1/14
    • Robert Edwards: Skanky nat gas just made a new LOD by one tick to 3.781. How pathetic can we get here in NG, still buying dips LOL!
      8/1/14
    • Robert Edwards: On 3 selloffs below 1285.90 yesterday in gold, I bought based on buy recommendations of my trading system. Turns out to be correct so far.
      8/1/14
    • Robert Edwards: I think JNUG has potential to hit 27 today, but it depends a lot on what gold does. I am a buyer of gold and miners in here.
      8/1/14
    • AlphaOne777: Thanks! I appreciate your opinion and having just found this forum recently I really enjoy all the viewpoints.
      8/1/14
    • Robert Edwards: There is the buying surge! Right on schedule. OK, 1280 should be bottom on this downswing in gold. Calling it now.
      8/1/14
    • Robert Edwards: After hitting 1290.60 high post report, bot Dec Gold 1286.60 on next dip down, and now placing stop at 1288
      8/1/14
    • Robert Edwards: Took out 1295 pretty decisively, calling bottom for sure now.
      8/1/14
    • Robert Edwards: Next real hurdle is 1300. If Dec Gold closes above 1300 then that is a game changer. We could hit 1320 on Monday but that is a big if.
      8/1/14
    • Robert Edwards: My system said to scalp from the long side throughout the selloff and that turned out to be the correct move and is now more obvious.
      8/1/14
    • dan1981: Looking forward to gold 1320 !
      8/1/14
    • Robert Edwards: Emotionally I was resigned to the fact we were going to have to trade n the 1270s and maybe 1260s pre-report so I am relieved how turned out
      8/1/14
    • Robert Edwards: Post report, there was ample chance to dump JDST in 10.60s and 10.50s to buy back later today or Monday below 10
      8/1/14
    • Robert Edwards: Nat Gas back above 3.800, what a skanky market. I am holding onto my contracts to cash out 3.8400 or higher as we fill the gap
      8/1/14
    • RCamuti: RE what level does gold need to hold here today to confirm the downtrend reversal?
      8/1/14
    • Robert Edwards: Hard to say definitively, but 1295 close or higher today would be very constructive. Absolutely need to see a close above 1290 I would say
      8/1/14
    • Robert Edwards: JDST almost got back to 10.50 and then dipped under 10
      8/1/14
    • RCamuti: Bought a small position in JNUG premarket and sold some JDST on the bounce up to lock in gains i had on the table so far.
      8/1/14
    • RCamuti: still holding some JDST shares that are in the negative for now in order to trade them at a better price hopefully.
      8/1/14
    • RCamuti: With this large bounce in gold, i am surprised that JNUG isnt exploding more to the upside so far. I know the day is early, but still valid.
      8/1/14
    • RCamuti: Watching JDST try to work its way back up. We'll see how the trading day develops going into the weekend.
      8/1/14
    • Robert Edwards: Took half profits in Sept NG 3.835 and will sell more on strength, buy again on weakness below 3.815
      8/1/14
    • Robert Edwards: Nat Gas like a magnet was pulled out of the hole 6 cents up to fill the gap. Pretty ridiculous had it gapped down after yesterday's pop up
      8/1/14
    • Robert Edwards: On the retest of highs back at 1298, should have taken profits in Dec. Gold. Don't like the weakness of gold in here but it is still early.
      8/1/14
    • RCamuti: Watching the same patterns as you RE. Trying to figure out how to play the rest of this trading day.
      8/1/14
    • RCamuti: I am expecting much lighter trading volume as the day continues going into another summer weekend.
      8/1/14
    • RCamuti: Not sure how that will effect these markets, but will make for some very different trading patterns as the day continues.
      8/1/14
    • Robert Edwards: Nat Gas wins the skankiness award. How could it trade 2.760 low yesterday, then pop to 3.890 and then fall back to 3781 today then 3.843
      8/1/14
    • Robert Edwards: As weak as gold is acting, JDST at 9.90 is looking like a great buy. Can probably play both sides of the teeter/totter for awhile.
      8/1/14
    • RCamuti: Gold is continuing to give back some of its gains from earlier. Is this just early profit taking. Traders getting out before it goes lower?
      8/1/14
    • Robert Edwards: Gold has to correct back to create a leg of support, now established at 1292 Dec Gold. On a retest of 1292 you want 1292 to hold.
      8/1/14
    • Robert Edwards: If we stay above 1292 on the retest then that projects higher price move later today. If 1292 is taken out, and especially 1290, very bad
      8/1/14
    • zaw77: Re agree, I was baying at 10.05 and 9.95 sold one at 10.29 next 10.49, also add JNUG at 25.46
      8/1/14
    • Robert Edwards: Sold the rest of my NG at 3.857 and will leave alone now.
      8/1/14
    • zaw77: I like days like today, is not boring :-)
      8/1/14
    • RCamuti: RE, do you see the typical friday trading pattern for gold/gold miners going into this weekend? Or is it too early to tell yet?
      8/1/14
    • RCamuti: You have a great habbit of seeing the end of the day rally in NUGT and JNUG on friday's.
      8/1/14
    • skysurfer83: What happened to HERO, financials didnt look to bad. Were expectations much higher?
      8/1/14
    • Robert Edwards: RC, no indication yet on end of day NUGT/JNUG. Will monitor and let you know if I see something.
      8/1/14
    • Robert Edwards: So far the 1292 leg of support in Dec gold has not been tested. That is a good sign for bulls we stayed up this long without a retest.
      8/1/14
    • Robert Edwards: yesterday's weakness in gold could be partially due to stock holders needing to raise cash and dumping out of profitable gold contracts
      8/1/14
    • Robert Edwards: trades placed when gold dipped to 1240. Not moving above 1300 on Wednesday caused the bulls to give up. A move back above 1300 would be big
      8/1/14
    • RCamuti: Do you think it would be wise to sell out of remaining JDST and get ready to re-position next week in either JNUG or JDST?
      8/1/14
    • RCamuti: Or sell half and Teeter starting next week?
      8/1/14
    • Robert Edwards: Just bot Sept emini DowJones contract 16427
      8/1/14
    • Robert Edwards: Gold is not rallying as strongly as I would like. If or until gold closes back above 1300, I would keep doing teeter totter buying dips in
      8/1/14
    • Robert Edwards: JDST and JNUG and taking profits when you can against minor resistance. Just sold my Sept YM contract 16448 for $100 after commission.
      8/1/14
    • Robert Edwards: The strength today in DUST/JDST and lack of strength in NUGT/JNUG makes me think the miners don't believe anything has changed and need to
      8/1/14
    • Robert Edwards: maybe do more work before we boom out of this hole. Bottoming is a process and not a straight down, straight back up thing usually
      8/1/14
    • RCamuti: JDST retested 10.60 a few moments ago. Trying to make the climb higher, spite the higher gold prices.
      8/1/14
    • RCamuti: RE, just wondering when you set up your tranche's, do you use a fixed amount of stocks, or a fixed amount of money?
      8/1/14
    • RCamuti: Also, do you buy your whole tranche in one shot, or phase that in as well? I am just curious how you handle your trades.
      8/1/14
    • RCamuti: i have read the article, i was just clarifying.
      8/1/14
    • Robert Edwards: I have posted tranche info. before in articles. I have done is several different ways. If daytrading, I take 50% of account or some amount
      8/1/14
    • Robert Edwards: I want to invest in. I then divide that money into 6 or 9 parts. If 6 parts, buy 1 part in NUGT, 2nd part NUGT, next part DUST, next DUST
      8/1/14
    • Robert Edwards: final 2 parts added to side winning and making money (bullish or bearish kinda day). If using bigger money amount, divide by 9 parts and buy
      8/1/14
    • Robert Edwards: 1/9 at a time till fully in NUGT with 3/9ths. Then DUST 1/9th at a time till full or may put all 3/9ths at once. Then put last 3/9ths to
      8/1/14
    • Robert Edwards: side winning. If DUST is at a bottom instead of NUGT, then start buying DUST then add NUGT and again add to which side working best
      8/1/14
    • RCamuti: The next question I have though, is about the winning side. Sometimes its hard to make that call. Today NUGT was the winner, but that
      8/1/14
    • Robert Edwards: I played a countertrend scalp in YM (e-mini DOW) and was supposed to take profits and reverse to the short side but I just got out. The
      8/1/14
    • RCamuti: changed very quickly. What looks like its the winning side, can become the losing side in the blink of an eye.
      8/1/14
    • zaw77: Thinking about eod close today, and where Gold stays right now, let me belive NUGT/JNUG should be a BUY now $43/$25.
      8/1/14
    • zaw77: I am now 20% in JDST 60$ in JNUG.
      8/1/14
    • Robert Edwards: short would have made $350 and counting. I just took profits on my Dec Gold 1296.20 that I bought 1286.60 as gold not that strong so far
      8/1/14
    • Robert Edwards: Did not make $1000 on the trade but ended up with $955, excellent daytrade.
      8/1/14
    • Growfast: FEYE beginning to like to a good long opportunity again in here....Running at the VMA.
      8/1/14
    • Growfast: Gold getting its usual Friday boost, but I'm still expecting it to come back down - perhaps next week.
      8/1/14
    • RCamuti: Hello Grow, was wondering where you stood on this trading day.
      8/1/14
    • AlphaOne777: Grow..Do you think Jnug will end on it's high today? Looks pretty strong at this time.
      8/1/14
    • Growfast: I think there is a high probability based on this years history of Friday closes. Watch Gold to see if pricing holds up. If it turns down
      8/1/14
    • Growfast: we could get a surprise. So far, looking like our typical bullish Friday. JDST hanging in there so appears traders still looking forward at
      8/1/14
    • Growfast: downside potential in the near future.
      8/1/14
    • Robert Edwards: Grow, I agree we could still see more downside next week unless Dec Gold can get and stay above 1300 and not even hit it yet let alone close
      8/1/14
    • Robert Edwards: above 1300 and need two closes above 1300 to confirm. Teeter/totter time continues. Stopping at 1281 makes my original call at 1280 look
      8/1/14
    • Robert Edwards: really good, but if we don't move above 1300 Monday morning, we will likely break below 1290 again and we could easily slip towards 1273 &
      8/1/14
    • AlphaOne777: Thanks..RE & Grow Appreciate the input!
      8/1/14
    • Robert Edwards: put 1260 back on the table. If we act weak enough, even lower prices are possible but have to take it one day at a time.
      8/1/14
    • Robert Edwards: The only positive thing I can say is that my proprietary system tells me to still scalp from the long side during this dip and not changed
      8/1/14
    • Robert Edwards: Skanky NG is back to unchanged. That market is really challenging. Like catching a tiger by the tail. Nat Gas should finally get up week
      8/1/14
    • Robert Edwards: Just looked at FEYE, Grow. We are down 5 days in a row which should result in up day on Monday. However, only caveat is the fact that
      8/1/14
    • Robert Edwards: today is down so hard. Could get a bit more weakness thru Tuesday but by Tuesday should bottom for a few days. Light buy here and add?
      8/1/14
    • Growfast: Your trading system sounds rather interesting and your scalping practices sound worthy of a training course.
      8/1/14
    • Growfast: Agree on the day by day analysis to see where we are and what is changing for Gold. I find NG to be very difficult to work on for short
      8/1/14
    • Growfast: term trades and risky for long-term trades unless you can really get on a seasonal trend - especially like last winter. UGAZ from Nov to Mar
      8/1/14
    • Growfast: would have been an awesome way to trade.
      8/1/14
    • Robert Edwards: Grow, supposed to have another cold winter but too early now to say. If Nat Gas is not the trade, we need to find another long-term trend
      8/1/14
    • Robert Edwards: I tried shorting NG near highs but got scared and took 2 tick profit, leaving 35 ticks now on the table. Made $15 vs. $345 after commission
      8/1/14
    • Robert Edwards: NG falls more, now $435 missed opportunity. Trying to play long and short I get scared when I am short but don't know why, it falls better
      8/1/14
    • Robert Edwards: than it rallies for a long time here. Just worried we come out of the hole and I am caught short but until we can get back above 3.90 &
      8/1/14
    • Robert Edwards: then 4.00, safest play is from the short side. When I short maybe I should play DGAZ and won't get stressed.
      8/1/14
    • Growfast: May be just a little early but moved first tranche in place for TNA long position. Getting very close to strong support and thinking we may
      8/1/14
    • Growfast: hold here and begin to move up.
      8/1/14
    • Robert Edwards: Bot Sept YM at 16387
      8/1/14
    • Robert Edwards: Trying to sell YM 16408
      8/1/14
    • Growfast: YM?
      8/1/14
    • Robert Edwards: Failed to pop, and got out 16398 for $50 after commission. Got timed out.
      8/1/14
    • Robert Edwards: It will probably hit my target but I have a 10 minute time limit to get quick scalp to work and getting out in 10 minutes saved me a lot.
      8/1/14
    • Robert Edwards: Now we are above 16400. If it had moved above 16400 a bit sooner I would still hold to try for $100.
      8/1/14
    • Robert Edwards: So far stopped 16406 so still not hit original sell target of 16408 and now fallen back. I was right to abort early.
      8/1/14
    • Robert Edwards: I don't post but I am doing these quick scalps all day, from 50 to 200 mostly, trying to get a certain # of ticks based on market action
      8/1/14
    • Robert Edwards: I was typing and did not get my buy order back in at 16387 again but would have been filled as it fell to 16386.
      8/1/14
    • Robert Edwards: And now we just popped to 16410. I could have got the $100 the second go round but typing cost me a $100 bill. This is why I don't post
      8/1/14
    • Robert Edwards: my scalps most of the time as hard to trade and type. If I had a chatroom, I would talk while I trade and have an employee do typing for me
      8/1/14
    • Robert Edwards: YM is e-mini Dow Jones Futures.
      8/1/14
    • Robert Edwards: Gold is weakening some as we close in New York in 5 minutes.
      8/1/14
    • Robert Edwards: Momentum buy on stop above 16416 set at 16420 would have worked great. Could have made quick 30 ticks ($150 in less than a minute)
      8/1/14
    • Robert Edwards: that is in YM 9-14 (Sept E-mini Dow Futures).
      8/1/14
    • Robert Edwards: Next dip should be a buy if I can get the proper setup.
      8/1/14
    • Robert Edwards: Call me an idiot but I just bot Sept NG again 3.812
      8/1/14
    • Robert Edwards: I called it a momentum buy, it is actually a breakout buy. A lot of my setups don't have names. I need to come up with some names I guess
      8/1/14
    • Growfast: For teaching the course that would be a good idea to define your approaches. For your own trading, no need.
      8/1/14
    • Robert Edwards: Gold did not close above $1295 but just barely missed it by a couple ticks. I will give gold a pass after what it has been thru recently LOL
      8/1/14
    • Robert Edwards: After the employment report, Dec Gold traded back and forth between $1294 and $1297. Check it out on your intraday chart. If bullish, you
      8/1/14
    • Robert Edwards: could buy around 1294.50 or lower, and sell $1296.50 area for about $200 profit. If a bear, could short $1296.50 and buy back $1294.50 for
      8/1/14
    • RCamuti: do you think gold miners close strong going into the close like the last few fridays?
      8/1/14
    • Robert Edwards: same $200 profit. Can play both sides up and down but I usually trade the side I don't mind working out of in case we break out of range.
      8/1/14
    • Robert Edwards: Friday is the best scalping day of the week because lots of evening up before the weekend and tend to trade in tight trading ranges.
      8/1/14
    • Robert Edwards: YM (Emini-Dow) is now climbing and did not correct back low enough to get me back in.
      8/1/14
    • Robert Edwards: I am not finding any bullish or bearish bias at all and low volumes so readings not strong enough to make any prediction. It could change
      8/1/14
    • Robert Edwards: later but right now, looks like we do nothing end of day. Now, in last 15 or 30 minutes we could get a quick play but no setup right now
      8/1/14
    • Robert Edwards: $42 area has held support in NUGT for a long time. Buying in $42s today worked out great, could have made $1 plus.
      8/1/14
    • Growfast: Agree from what I see. If anything, Gold is looking like it could break down here. If it drops below 1291, look out below. But, last hour or
      8/1/14
    • Growfast: 2 of trading might just perk up and show strength.
      8/1/14
    • Growfast: So far, looks like my entry into TNA long was good timing; although, Nasdaq is performing much better so far.
      8/1/14
    • Growfast: TQQQ might have been a better play, or, I will consider playing both if I can get good entry on TQQQ.
      8/1/14
    • Robert Edwards: Gold is acting like it wants to sneak out of town without being noticed, glad to be alive but impaled and limping along.
      8/1/14
    • Robert Edwards: Talking with my son by phone yesterday, I told him I was going to try to scalp from the long side in the Emini Dow about 75 to 125 down.
      8/1/14
    • Robert Edwards: I started that move and then let it get away from me. Well, I bot NG 3.812 and added again 3.799, and just sold high contract 3.815 and put
      8/1/14
    • Robert Edwards: a stop to protect the low priced contract. This Nat Gas is just so skanky but if you buy & add on further dips, it snaps back to let u out
      8/1/14
    • Growfast: Trading the NG contracts like you are is likely the right play. The leverage helps the smaller moves yield greater returns.
      8/1/14
    • Robert Edwards: Wednesday, was an ok day for gold bulls, Thursday was bad day. Today was good day. Monday may be a bad day for bulls. Hard to post an
      8/1/14
    • Robert Edwards: article when the bullish or bearish bias changes every day. If Dec Gold can't move decisively above 1300 on Monday, I will favor bear side
      8/1/14
    • Robert Edwards: Depending on Sunday night and early Monday morning action, gold may show signs of strength or weakness. Teeter/totter continues.
      8/1/14
    • Robert Edwards: White House speech coming up. I might get a chance to pick up the DJ on a selloff after all, LOL
      8/1/14
    • zaw77: I sold $JNUG at 25.55 bought back at 25.15 and again sold at 25.60 now - great today, rest want sell above $26, or buy cheapier
      8/1/14
    • skysurfer83: TQQQ at 75.07 was great entry after buying yesterday at just above 77... i went long TNA a week ago and didnt work out as plan lol
      8/1/14
    • Robert Edwards: Might get a chance Zaw to pick up JNUG again 25.10 to 25.15 area in here soon. That is the way to do it.
      8/1/14
    • Robert Edwards: NG will close up over 1 cent for the week, just under 3.800 Sept, so down weeks limited to 6. Did not make 7, but barely so.
      8/1/14
    • Growfast: Zaw, good scalping. On JNUG, you're becoming the mini-RE
      8/1/14
    • RCamuti: RE, trying to use your methods or scalping, for quick gaines, but so far not much luck yet, trying to trade out of JNUG that i bought today.
      8/1/14
    • RCamuti: Never tried scalping for quick gains here and there before, I usually trade for larger long term gains that take some time to develop.
      8/1/14
    • RCamuti: I have to keep reading yours and grows post to get the system down i guess.
      8/1/14
    • dan1981: Nugt bought 42.30 sold 43.90. Not keeping over weekend.
      8/1/14
    • Robert Edwards: I have a rule, you can buy the first dip after new highs. Recently the stock averages made new highs and this is the first dip. You can
      8/1/14
    • Robert Edwards: buy this dip and hold out for the retest of the highs. If the retest fails, then can roll over and really get killed. I feel this first
      8/1/14
    • Robert Edwards: selloff will be more shallow as it is first correction in awhile and many will be anxious to get in, so as not to miss the next pop.
      8/1/14
    • zaw77: RC - I active here in Robert forums aover 1 year, could learn a lot but sitll far away from mini-RE, thx Grow.
      8/1/14
    • RCamuti: I am working on becoming more of an active trader, and learning to lock in my gains when I get them, so i dont give them up the next day.
      8/1/14
    • RCamuti: Trying to take the over thinking and emotion out of my trading patterns, but sometimes my convictions get the best of me. I'm getting there.
      8/1/14
    • zaw77: I usually start small into the day to find out where the rangies of day could be and than on second wave sell/buy more and te.-to.
      8/1/14
    • Robert Edwards: RC, I have taken most of the emotion out of my trading, but still over think it and do let bias creep in. It is a lifelong process.
      8/1/14
    • skysurfer83: Thouhts on NG, i am contemplating getting out of DGAZ over the weekend and take my 2.8% gain on it or risk it over the weekend?
      8/1/14
    • Robert Edwards: Palladium really got smacked today finally. Maybe I can buy it next week. PA looks like it can fall again on Monday and if it is weak then
      8/1/14
    • Robert Edwards: gold will probably be weak as well. Not getting back over 1300 today, Dec Gold only got back most of what it lost yesterday and nothing more
      8/1/14
    • Robert Edwards: Traders long Palladium and short Gold took profits today which depressed PA prices and boosted gold prices. When they buy PA again, they
      8/1/14
    • Robert Edwards: will short gold against it which will make it more difficult for gold to rally. Also today's gold rally means less since it is Rally Friday
      8/1/14
    • RCamuti: I feel that my trades are well thought out and make sense fundamentally, and for the most part I am not down a lot of money.
      8/1/14
    • Robert Edwards: When they announced Obama was speaking, I should have shorted YM 9-14 immediately and could have made a nice scalp. Happens about every time
      8/1/14
    • RCamuti: Like i always read "The market can be irrational longer than your money will last".
      8/1/14
    • RCamuti: I have learned a lot from all of you in this, and I always look forward to learning more from you.
      8/1/14
    • Robert Edwards: As skanky as NG is, DGAZ and UGAZ will probably pop some on Monday, different times of the day. However, with the dip back under 3.800.
      8/1/14
    • Robert Edwards: I would tend to take profits now as I am bullish NG under 3.800. U can buy DGAZ again when it dips while NG rallies to 3.90 or 4.00
      8/1/14
    • Robert Edwards: RC, I believe fundamentals are already fully known, thus they are priced into the market already. A change of fundamentals may be helpful
      8/1/14
    • Robert Edwards: but not that occurs rarely. I believe taking temperature of the market, and getting the feel for the market is your goal. Every day I try
      8/1/14
    • Robert Edwards: to set a trap for gold or whatever market I am trading. I come up with these various prices that I expect to see the market reach on that
      8/1/14
    • Robert Edwards: trading day, and if the market fails, then I take that as a sign, and if it fulfills then I know I am on the right track. Enough of these
      8/1/14
    • Robert Edwards: signs added together, along with some good technical indicators, and you can develop a pretty good road map for your immediate future and
      8/1/14
    • Robert Edwards: feel like u have some control. Experience is also important. Over time you see patterns that repeat. When I say the funds did this or that
      8/1/14
    • Robert Edwards: it is the way I have created a scenario to describe past actions. Sometimes the funds really do move the market and sometimes not, but I
      8/1/14
    • Robert Edwards: am seeing a pattern that occurred in the past when funds were involved so I assume they are involved this time. What matters Is the pattern
      8/1/14
    • Robert Edwards: repeats and I can predict future price movement and take advantage of it.
      8/1/14
    • Robert Edwards: U and I are nobodies in the markets. We are fleas on the dog's back. Look for the actions by the dog, especially the big dog and jump on
      8/1/14
    • Robert Edwards: the back of the pack leader and you will make money. Big money, described here as the Big Dog, rules! Sometimes it is one or two large
      8/1/14
    • Robert Edwards: traders and sometimes it is a large group en masse. The big dogs can't move without leaving a big footprint (volume spikes). I am now
      8/1/14
    • Robert Edwards: working to really capitalize on watching volume on a tick by tick basis.
      8/1/14
    • zaw77: Robert you were right could bought $JNUG at 25.05 back, now waiting for eod pop
      8/1/14
    • Robert Edwards: Hey, I told you that you should be able to buy JNUG cheap again, just dipped below 25.
      8/1/14
    • Robert Edwards: Grow was right. Looking weak indeed right now.
      8/1/14
    • Robert Edwards: Just bot some JNUG 24.92 & 24.97
      8/1/14
    • Robert Edwards: we have 30 minutes and not a strong signal but could get a little pop in last 30 minutes of trading.
      8/1/14
    • Robert Edwards: Also bot Dec gold contract 1294.00
      8/1/14
    • Robert Edwards: got a bull signal but it is really weak, maybe we get a little pop anyway
      8/1/14
    • donnavet4pet: Just sold a little NUGT as the much anticipated pop seems like today it may more be a drop........
      8/1/14
    • zaw77: I have avg. 25.35 in JNUG on rest shares - I made already money - going to sell out, want be flate next to week on vacation
      8/1/14
    • Robert Edwards: took half off 25.40
      8/1/14
    • zaw77: JNUG sold out at 25.49
      8/1/14
    • Robert Edwards: got rest of JNUG off 25.50. that was fun!
      8/1/14
    • zaw77: Thx all - hear in to weeks, I will be anly watching here in Forum from time to time - hmm, where could be Gold in 2 week !? have good trades
      8/1/14
    • Robert Edwards: Sold my gold contract for $105 net profit, so made a lot more on JNUG. Thanks Zaw for inspiring me to work that trade on a weak signal.
      8/1/14
    • skysurfer83: another great week, thanks all for analysis suggestions and an overall good time. Have a safe weekend and I will see you on Monday
      8/1/14
    • Robert Edwards: When Donna posted that she was chucking NUGT, I immediately bot NUGT figuring a lot of traders like Donna were throwing in the towel on the
      8/1/14
    • Robert Edwards: weak action and figured they were giving it to me at a discount and made a small pop on NUGT too. Thanks Donna for posting, LOL
      8/1/14
    • RCamuti: Have a great weekend everyone. Worked my way out of tough trade in JDST, and am almost back to even. RE, looking forward to your next blog.
      8/1/14
    • RCamuti: Safe weekend everyone, talk to you sunday and/or monday morning.
      8/1/14
    • Robert Edwards: Bye all, have a great weekend. Will try to get 1-2 articles done this weekend.
      8/1/14
    • donnavet4pet: You are welcome RE and I am glad I could help. :)
      8/1/14
    • Robert Edwards: Just did a new article on gold and miners, click http://seekingalpha.com/p/1uytb
      8/3/14
    • rxraider: Was out of town Thurs and Fri. Will be out Mon-Thurs. Placed sell order on $RUSS for 13.50 (bought at 11.49), and buy order $UGAZ at 13.50.
      8/4/14
    • Robert Edwards: Bot Dec Gold at 1291.70 & 1290.50 on the early dip down to 1290 but sold out in mid 1292s. Got a pop to 1296 but did not hold. Buying dips
      8/4/14
    • Robert Edwards: Nat Gas gapped down Sunday night since Friday's close was far off highs of day. Pattern keeps repeating that you should be shorting NG on
      8/4/14
    • Robert Edwards: Friday and buying back on the Sunday night dip. From the lows, NG bounced. I did not add but kept my long position from Friday and got
      8/4/14
    • Robert Edwards: out with nice profit. Copper hit 3.20 support overnight and bounced back up to near 3.25 in Sept Copper. Copper strength should support
      8/4/14
    • Robert Edwards: the stock market.
      8/4/14
    • Robert Edwards: Made a couple small scalps in YM 9-14 (emini-Dow Sept Futures) and will continue to buy on dips and get out with $50 to $100 profits.
      8/4/14
    • Robert Edwards: Just bot Dec Gold again 1292, will sell out on strength for small scalp. Just shorted NG as I am tired of going long and then fighting to
      8/4/14
    • Robert Edwards: get a rally. Will try scalping from the short side and see how that works for awhile..
      8/4/14
    • Robert Edwards: Don't like the action and sold out of Dec Gold 1292.50 for small scalp. Looking like 1290 support may soon give way in Dec. Gold.
      8/4/14
    • Robert Edwards: No one is posting today. Anybody out there?
      8/4/14
    • Jeremy49: I'm here RE...just scalped JNUG in at 25.43 out at 25.75. Trying to figure a good entry point for JDST scalp
      8/4/14
    • Jeremy49: Bought JDST 10.79
      8/4/14
    • Robert Edwards: Bot E-mini Dow Jones Sept Futures when the Dow was down 26 for the day. DJ has fallen for 4 straight days and figure due for an up day since
      8/4/14
    • Robert Edwards: the selloff today is very measured and orderly. Will scalp from long side while we remain oversold on short-term basis
      8/4/14
    • Robert Edwards: My last NG short was profitable for a scalp. Just shorted again at higher price, 3.850 in Sept NG. Gold still holding above 1290 (3 dips)
      8/4/14
    • Jeremy49: Sold JDST 11.01
      8/4/14
    • stocksip: RE, when would you go long on NG for a target of 4.3 to 4.5 i.e 50% retracement of the recent fall from 4.8 to 3.7.
      8/4/14
    • stocksip: i meant to say .. for a target of 4.3 to 4.4
      8/4/14
    • Robert Edwards: Dec Gold just did 4th dip under 1291 and this time 1290 was broken. 1290 is important pivot. Gold closing down today as expected. However
      8/4/14
    • RCamuti: Hello all, sorry for my absence today so far. Interesting trading day so far in JNUG and JDST. Keeping my powder dry to buy JNUG later.
      8/4/14
    • RCamuti: As RE said in his article, JNUG should get a nice pop tomorrow. Looking to sell more JDST as the day goes on. Looking for 11.80 strike.
      8/4/14
    • Robert Edwards: I would not get too comfortable being short gold in here as I am looking for a higher close tomorrow still. Right now gold is weak though.
      8/4/14
    • RCamuti: Maybe 12. But that would be unexpected.
      8/4/14
    • Robert Edwards: I would not get too comfortable being short gold in here as I am looking for a higher close tomorrow still. Right now gold is weak though.
      8/4/14
    • Robert Edwards: Just bot Dec Gold 1288.70 for small scalp on the long side. Will see if it can overcome 1290 or not.
      8/4/14
    • Robert Edwards: I can't get a handle on NG other than quick scalps in and out. Sideways up and down lately and making no progress.
      8/4/14
    • Tatt2d: added more NUGT at 42.11
      8/4/14
    • Robert Edwards: Above 3.840 in Sept NG, I have been going short. Under 3.800 and especially 3.775, I like to buy dips. Worked out well so far.
      8/4/14
    • Steven Couche: Sure does look like golds going down today...not bouncey at all. I need it to break 1280 tomorrow and JDST to 14 mid week
      8/4/14
    • Robert Edwards: Sold my Dow Jones Emini and repositioned lower and got out of that one as well. Buying dips in stocks working but not holding for long
      8/4/14
    • Robert Edwards: So far the Dow is trading as an inside day, not violating the high or low from Friday, although today the low held in only by 10 points
      8/4/14
    • Robert Edwards: If we should break Friday's low, could be some selling and I will likely be buying into that dip when things stabilize.
      8/4/14
    • Robert Edwards: Right now breakout working in Dow Jones Emini Sept above 16420, same breakout that worked on Friday at exact same price. Today is weaker
      8/4/14
    • Tatt2d: What site do you use to follow Dec gold?
      8/4/14
    • Robert Edwards: The grains (Wheat, Corn, Soybeans) have been killed last couple months, but last few days showing signs of either bottom or sideways which
      8/4/14
    • Robert Edwards: should help the CRB (Commodity Index) to stabilize. When CRB is falling, due to grains, crude oil, metals, and other commodities falling,
      8/4/14
    • Robert Edwards: it hurts gold as well. If CRB is bottoming it could help gold. Crude oil is still a tad weak but losing downward momentum as well.
      8/4/14
    • Robert Edwards: Wanted to short the Euro today but it missed my price. I will still look for spot to get short as US Dollar snap back rally today.
      8/4/14
    • Robert Edwards: Remembering how gold traded last Thursday, Dec Gold should now trade between 1286 to 1290 for a couple swings, before maybe falling more
      8/4/14
    • Robert Edwards: I would think 1283 to 1285 would be good support in Dec Gold today and if we get there, might want to buy JNUG or NUGT & sell JDST/DUST
      8/4/14
    • Robert Edwards: Gold Industry takeovers are picking up, click http://bloom.bg/1qUiNgj This makes JNUG good trade and JDST a bad trade
      8/4/14
    • Robert Edwards: Many sites to follow Dec Gold. Barchart click http://bit.ly/1lsNaTl or go to cme.com website and look for delayed prices (10 min.)
      8/4/14
    • Tatt2d: Thanks.
      8/4/14
    • AlphaOne777: RE any idea as to the low in JNUG today and any idea of pop % expected tomorrow. I know it's early in the day but thought I'd as anyway. TKS
      8/4/14
    • Growfast: Still looking for 1280 or lower Gold, JNUG under 22 and JDST 12+. AMZN getting nice bounce today.
      8/4/14
    • Growfast: TNA working on some strength. Just needs some momentum - watching closely unless action makes me want to change direction.
      8/4/14
    • AlphaOne777: Thanks Grow
      8/4/14
    • Steven Couche: Do grinding actions or fast moves typically lead to reversals more often?...this grinding downward in gold scares me being short
      8/4/14
    • Robert Edwards: Just wrote an article on GRPN click http://seekingalpha.com/p/1v21z
      8/4/14
    • Growfast: GL - Look at an 8H chart on Gold if you can. Check out the grind action May 7th through June 2nd, with the same downward wedge position we
      8/4/14
    • Growfast: have now.
      8/4/14
    • Growfast: Perhaps only the big banks know for sure where we are headed, but seen this pattern before recently and it took us to 1240.
      8/4/14
    • Robert Edwards: Grow, I looked at the two wedge patterns. In April/May 2014, each time gold hit the lows, it kept making a higher low, until the 4th time
      8/4/14
    • Robert Edwards: when the slightly upward trend was violated with a smackdown quick to 1240. Then from 1240 we went up nearly $110. Now, the current wedge
      8/4/14
    • Robert Edwards: we are making lower lows each time. Dec Gold hit 1294.40 on 7/15, then 1289.40 on 7/24 and last week 1281 on 7/31
      8/4/14
    • Robert Edwards: We could very well make another new low to 1273 or even 1260, but the surprise move in this downward trend could be up instead of down.
      8/4/14
    • Robert Edwards: I see the move to 1240 now possibly being a move of $50 the other direction, from $1270 to $1330. Then instead of rallying $110 off $1240
      8/4/14
    • Robert Edwards: maybe we fall $110 off of $1330 and hit $1220. Thoughts?
      8/4/14
    • Growfast: You could be right, RE and I will continue watching. But, I also think FED actions without any new surprises, point to downward.
      8/4/14
    • Robert Edwards: My idea will allow for August seasonality to kick the market up and then big selloff starting in September to new lows
      8/4/14
    • Robert Edwards: Do you have a read on GRPN, Grow? I know that in the past you have not been a great fan of many internet stocks. I was right about TWTR
      8/4/14
    • Robert Edwards: but ANGI really got slaughtered and I was wrong about that one. Wondered if you follow GRPN or not/
      8/4/14
    • Growfast: May create a hedge position in the event that turns out to be the case. Probably close to a good time to do that regardless.
      8/4/14
    • Robert Edwards: Hedge position? What are you suggesting Grow if I may ask?
      8/4/14
    • Robert Edwards: Are you talking about the August seasonal pop towards $1330?
      8/4/14
    • Robert Edwards: I should have said social media, not internet, basing on your dislike of TWTR, justified on a fundamental basis for sure!
      8/4/14
    • Growfast: I'm all short at present. Could buy some calls on NUGT/JNUG to offset the negative delta in case we do get a seasonal upside.
      8/4/14
    • Robert Edwards: using 1290 where Dec Gold is now, whether we fall 50 back to 1240, then rally 110 to 1350, or we first rally 50 from 1290 to 1340 and then
      8/4/14
    • Robert Edwards: drop 110, to 1230 or lower, you cover the same price levels, just in reverse order.
      8/4/14
    • Growfast: Agreed.
      8/4/14
    • Robert Edwards: Copper really popped today, which foretold a stock market bounce back and likely up day in the Dow.
      8/4/14
    • Robert Edwards: Fundamentals in copper are getting worse. You have the warehouse scandals in China where they borrow multiple times against the same copper
      8/4/14
    • Robert Edwards: supplies, and FCX could start shipping copper again. I did not go long on this pop and may instead go short more strength. Just watching.
      8/4/14
    • Robert Edwards: I was waiting for Friday's low to be taken out in the Dow, so I could buy into a hard selloff. Inside day closing up today is bearish if we
      8/4/14
    • Robert Edwards: don't take out Friday's high. Even if Tuesday is up, we should have to retest the lows in the Dow, S&P etc., before rallying strongly.
      8/4/14
    • Robert Edwards: If we retest the lows tomorrow, we might crash through and make new lows and stay down there for a hard down Tuesday close in stocks.
      8/4/14
    • Robert Edwards: I will decide if I want to scalp from the short side in anticipation of the retest and possible break of Friday's and Monday's lows.
      8/4/14
    • RCamuti: Missed my first scalping opportunity when JNUG didnt hit my 22.80 fill order.
      8/4/14
    • RCamuti: RE & Grow, when you dont get a fill order, do you adjust your price or do you not chase and just wait for another opportunity.
      8/4/14
    • RCamuti: trying to learn from the masters when it comes to scalping, but still needs some pointers along the way.
      8/4/14
    • Growfast: in general, I don't chase unless I'm expecting a large move where changing my bid won't reduce return/risk profile much. The shorter-term,
      8/4/14
    • Growfast: smaller move, the less I'm willing to buy if it doesn't hit my target.
      8/4/14
    • RCamuti: Have a sell order in place for a small tranche of JDST @ 12. Looking to P/U JNUG @22.75 or a little lower.
      8/4/14
    • RCamuti: May adjust those prices as the day progresses towards the close. Would like a small position in JNUG incase we get the RE pop tomorrow.
      8/4/14
    • skysurfer83: Hey Re, busy day at work on Mondays (i am just reading and thinking). Do you thing GOLD will keep on thos downtrend or its almost time to
      8/4/14
    • Robert Edwards: I still like scalping from the long side but gold not acting very strong. We could close up tomorrow but dip and retest 1280 first. I would
      8/4/14
    • Robert Edwards: expect for the first retest of 1280 to hold. Even a test of 1285 or 1286 today or tomorrow should bring in some buying like last Thursday
      8/4/14
    • Growfast: Sold out of short-term TNA position for nice profit.
      8/4/14
    • skysurfer83: cash out and reposition (i bought at 10.02) in nugt? Do you se a good entry point?
      8/4/14
    • Jeremy49: RE do you think there will be a pop in NUGT/JNUG at the close today, or can I wait until tomorrow and buy at cheaper prices? Thanks.
      8/4/14
    • Robert Edwards: I am not seeing a late day pop and I am holding off buying gold till the night session and NUGT/JNUG until tomorrow. Want to see more action
      8/4/14
    • Robert Edwards: I am hopeful that I won't have to pay more than 1285 to go long Dec Gold & may get it overnight. Could start out weak tomorrow & reverse up
      8/4/14
    • shopvac20: NUGT seems to be valued high for gold to be in the 1280s. last year before we all entered the long side NUGT was at 40 w Gold @ 1310 ish
      8/4/14
    • Robert Edwards: We are in a falling wedge in gold (what I was explaining earlier to Grow), which is bullish. Click http://bit.ly/1qUydkM
      8/4/14
    • Robert Edwards: The april/may wedge was a rising wedge which is bearish and the breakdown to 1240 was the result. If this wedge is bullish, should go higher
      8/4/14
    • RCamuti: Got my order fill of JNUG @ 22.75. Sold half tranche of JDST @ 11.51 for a 10% gain.
      8/4/14
    • RCamuti: Only bought half of my JNUG tranche incase we get more weakness in the premarket tomorrow.
      8/4/14
    • donnavet4pet: LO filled for JNUG @ 22.80. Sold TNA & CURE for a little profit.
      8/4/14
    • RCamuti: Holdings are 71% JDST, 13% JNUG, 16 % CASH. Learning from my buddies here, and trading my way out of a tough position.
      8/4/14
    • RCamuti: Biggest mistake i made was when i sold a JDST tranche last week in early trading when I saw gold was making a big move up.
      8/4/14
    • skysurfer83: Out of JDST at 11.44 (nice 14% gain on it). Took your advice as NUGT didnt really move. free up lots of cash for tom, im going to experiment
      8/4/14
    • RCamuti: Let my fears get the best of me, still got a gain, but if i held till today, could have gotten a huge lift.
      8/4/14
    • RCamuti: Put that money to work in JNUG towards the close for tomorrow. Lets see how it goes.
      8/4/14
    • skysurfer83: with these scalps strategy. Do you guys just place milits order and decide on % ROI ahead or just look at the market and make decision?
      8/4/14
    • Robert Edwards: The market dictates what you get, u can't be too rigid. I like legging in & legging out. Buying a bit and adding on weakness, then partial
      8/4/14
    • Robert Edwards: profits when I get them with more to sell on further strength. I don't like to hold overnight more than 40/60 or 60/40 bullish/bearish.
      8/4/14
    • Robert Edwards: All my problems have occurred when I was too unbalanced one way and not quick enough to take action to balance. Now I stay more balanced.
      8/4/14
    • RCamuti: Thanks for the tip RE on being balanced. I am trying to hold my JDST position a little longer to get more of the position to be profitable.
      8/4/14
    • RCamuti: You and I seem to be en-sync as to this weeks gold outlook. So i figured i would try to scalp JNUG while holding JDST for the bottoming.
      8/4/14
    • Growfast: RE - Good thoughts shared earlier on position management (entry, exit and adjustment). I have multiple strategies I deploy and scalping is
      8/4/14
    • Growfast: fairly rare, especially as I get busy with other business projects which limits time to monitor positions in real time. I deploy long-term,
      8/4/14
    • Growfast: mid-term (3 months to 1 year) and short-term (1 day to 2 months). I work to optimize entry when I can using 1 year, 3 month, 5 day and 1 day
      8/4/14
    • Growfast: charts. Entry can go in tranches, but I have learned more and more that if I get a great buy price and am patient on entry not forcing a
      8/4/14
    • Growfast: position, it is much easier to profit. On short-term positions, I don't like to chase. I always have a target range I'm trading to, but
      8/4/14
    • Growfast: monitor the charts to see if they are suggesting my target may not be achieved. Sometimes locking in some profits before target is hit
      8/4/14
    • Growfast: because chart suggests a turn is better than holding and hoping. Can always sell, buy back cheaper and see if it will ride to exit target.
      8/4/14
    • Growfast: When I'm busy with other projects, I may have to review charts daily after hours or weekly. When this is the case, I do far less short-term
      8/4/14
    • Growfast: trading. Mid-term and long-term, I'm more interested in fundamentals, market sentiment and 5 year, 2 year, 1 year and 3 month daily/weekly
      8/4/14
    • Growfast: charts.
      8/4/14
    • Growfast: Time frame of focus and using appropriate time horizon technical analysis is key to optimizing position entry and exit - and that can vary
      8/4/14
    • Robert Edwards: This thread is getting too long so I started a new thread!
      8/5/14
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