Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Psyched II

|Includes: VanEck Vectors Gold Miners ETF (GDX)

This is a promo, yup. As I was updating the subscriber feedback page on the website, I came across this blog post that was one gentleman's inspiration to join NFTRH. My first thought was 'why did I give away such valuable information for free in such a real time manner on the blog?' and my second thought was that 'I am a TA and market geek and it is what I do'. Well, did anyway. For the sake of my new business, which I take very seriously, I must tone down the freebies, at least as far as the core issues go.

When I wrote that post, Psyched, I was very concerned about the obvious euphoria surrounding the gold stocks as they gained the next leg up in unison with a world of broad stock market participants suddenly becoming quite brave as well. The time to be brave was HUI 150-175 and again around 250-260. NFTRH was brave then. The time to be scared was HUI 360-400 and NFTRH was scared then, as my aggressive selling illustrated. I began buying back some gold stocks in the HUI 330-310 range and advised that while I cannot call a bottom, we are now '70 HUI points lower' and the risk profile is much better.

I have other targets in play now, and you might not believe the range between them. One is higher than some might think and the other is lower than others might find, err, convenient. They are both in play with lots of options in between. Patience and ongoing diagnosis is key.

Consider risk vs. reward and keep your head screwed on straight amid the blow horns. It's not rocket science people. I am using several different time frames in support of ongoing themes to make sure we are checking things from as many technical and sentiment angles as possible. Markets are ongoing, almost living organisms. They must be subject to ongoing check ups, prods and pokes.