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Good morning.
Where is everybody?
I just had a lot of risky action to +$953. I will try to post some trades.
Good trading to all.
Just bought JNUG at $6.71 went to $6.68 sold at $6.74 for a quick scalp.
About 24 trades so far.
Surf’s up at Talk Markets. 😉 The link provides an objective update on where we are on both the USD’s and Gold’s Intermediate and longer Cycles.
Charts provide an update on several key Cycle lines I am tracking on both Gold and the USD.
http://www.talkmarkets.com/content/us-markets/usd-and-gold–intermediate-and-super-cycle-update?post=129950
Gold has broken out of your triangle on weekly chart just this a.m. Could be temporary but I doubt it.
An example at 10:47:11 AM. Buy JNUG 2K shares at $6.85 making new highs so scalp 2.5 points and sell at $6.875 at 10:47:45. A 36 seconds trade.
Several scalps bring the profits to $1.1K so far this morning.
Good trading to all.
Like i said, SMs going down, gold up. Trump bump has turned into a trench. Uncertainty, NKorea, Russia trump conection all good for gold.
OR, the BO financial chickens have come home to roost? 20 trillion in debt may finally matter.
Though there is tradeoff focusing in day trading, one may miss a swing or powerful trend up.
It seems finally gold will break through taking the miners up and SM finally going down.
Metals and the miners are looking strong this morning. Where is our resident bear this morning? Pedestrian, are you looking to initiate another position on JDST?
Goild, ‘scalping’ a few ticks is not hard to do as long as you are right with the general direction. But how do you deal with a trade that becomes a lose right from the moment you buy it? Just asking.
Good morning Don,
Since I try to buy at support, and if JNUG goes down more, I may double, or triple, some times I still can make money in that trade, but it can go lower and then I have say 6K shares, then I am loosing. Either I sell, or wait a bit more and buy 8K and again 8K shares. We are talking now when the drop has been significant and so a bounce up is likely. In this way I have lost a lot and so I try now not to triple but to sell to catch at the next bottom with say 9K shares. I am dealing with this old habit as a priority. The last three weeks have been good as I recovered about $28K I lost on the falling knife. Last Friday I was up $1200 and in the last day drop by hoping and being stubborn, mostly tired, I lost $500. This morning has been good since the trend is UP. I am done now for the day at +$1261.
I also got 2K USO shares to hold and I am tempted to get into the metals too.
I should add that there are other factors that count. The tenths of thousands of trades I have done, the training of my fingers, body, and mind reactions, and intuition.
Ok, so your ‘system’ will work so long as you are correct about the primary trend. You are effectively being very aggressive about buying the dips. If you were to try that system on something like an inverse SM ETF, such as SQQQ, you would have been into serious losses as the primary trend, for years now, has been up for the NASDAQ and down for SQQQ.
Goild, it sound like you know what you are doing but you might want to keep in mind that a doubling down system will produce high rates of success until it doesn’t and a hundred small wins can be wiped out by one big loss. Good luck and I hope you are onto a winning system that leaves you richer at the end of the year.
Don,
You are right. The system works as long as the day is a good day like this morning.
Half of the bad days I still can make money.
The other half is where I lose and so I am being very, very careful about falling knifes.
I’m also forcing me to balance shorts and longs.
Goild — I hate to pick on you buddy but your trading style needs a serious overhaul. Look, I don’t care how much money you have in your bank account, but trading in and out of the market like ‘rapid fire’ just to catch a few pennies on the dollar is an absolute waste of time and money. If you have all the right tools in place then you should only be trading in and out of the Market no more than a dozen times max on a day trade, that is of course if you know what you’re doing.
Also.. This doubling down, or tripling down in some cases, just shows a lack of experience in your ability to read and/or trade the prevalent trend using a combination of intra-day charts and tools. I have a feeling you can do better and you should, because throwing a bunch of money at your broker so that you can get your rocks off is crapola in my books! I’m sorry for lecturing but remember this.. there are people in this world that have nothing [not even a clean glass of H2O], so when I run into an over-indulgent adrenaline junky Trader like you, I just wanna whip your Ass into shape 🙂
Good morning all. Gary is pretty sure we have seen the cycle low for QQQ but seems non-committed. I am short the market so I am concerned we might shoot right back up again. Don, what is you opinion? Are you hanging on to your shorts? Adding to them maybe?
JJ, I have not added to my SM shorts. I have plenty already! I dont believe we have see the cycle low just yet but concede that anything can happen with these crazy markets. I did a lot of reading this weekend and the overwhelming consensus is that the market is headed much higher and that fundamentals no longer matter because we are in the final stages of a great bull market. Gary is far from being alone with his prediction of where the market is headed. I feel much more comfortable disagreeing with that consensus and being short.
Goild, you seems like not a newbie but acting like it. Who cares how much you get everyday …? if you have some trading ideas – share it if you want, that’s what this blog for. Many of us can show a great trading days but stays humble as everyone knows that time will come and you can end up with account about to collapse.
As for me: I’m out of metals mostly, long natgas, building VIX position on spx long, we should see a great bull run soon. Consolidation continues for now.
A great read, especially while equities consolidate. Some really great traders post here. Surprised nobody’s mentioned it lately.
https://tinyurl.com/mwd2fqy
Do you feel better now? You came on here just to post that???
Cotton breaking lower!
Gold seems it wants to break above 1260 on FOMC minutes day, to produce a bearish divergence and a right-translated DC.
Christian,
Thanks for the comment.
I am not happy with the way I trade. However, it is producing $$ and it is very
hard to argue with it.
In my list is the Ed Seykota way of trading and that is after the market closed he took his trading decisions. Pedestrian, I think does it.
Goild-
I love your trading updates. You extract or aim to extract $ from the markets on a daily basis & its fun to see your scalp tally.
Keep um coming!
Victor,
I have also posted my substantial losses here too. My comments are about trading and some posters have asked details about how I do it. Some people are curios also about what kind of profit one gets. I am still down about $35K from the profit I had around January/February. We shall see by the year’s end.
Good trading to all.
Americano,
Thanks for the comment.
I should add that I really do not care about appearing smart, cool, talented. Which I am not. Just a regular persistent guy. A pleasure is to make some profit here so that when I go to buy groceries, I can get any fancy produce, meat, product without worrying about price. Then go home and prepare a gourmet meal courtesy of SM.
Christian,
Your comment spurred many thoughts.
Even though your name is Christian, you probably are not a trading saint, either.
As per trading I had that awesome swing trade in December for NUGT going up, which made the bulk of the profits or about $70K-80K. That needed to have 10K shares, with steel balls. Another classical TA trade is the 2K USO shares I am holding. But what boring, having to wait days to weeks before it profits.
I think we love trading. A master trader, if that is the aim, masters every facet of trading. Day trading gives some unique insight.
Could you please post the Christian trading lessons/insights? I am all ears and eager.
All you guys who thing a major move higher is imminent, ur nuts! You guys dont realize what the prevailing view is of the leader of the free world, and im not going to tell u. Uncertainty is paramount, every SM move higher is immediately sold, insiders are selling at record levels, N Korea may be bombed at any time, Evidence or trump russia collusion may emerge at any time, trowing the markets into a black swan event. And u guys think markets will ignorevall 5hat?????? Ha, buy gold, short the SM!
Its risk off until trump russia is decided, or trump gets something major passed through congress. Until then buy gold.(
What is up with gold? It just does not want to go down in a DCL or ICL. Anyone here can give thoughts on the cycle?
Robert,
“Anyone here can give thoughts on the cycle?”
Read people’s “thoughts on the cycle” in their entirety, and not selectively.
It seems that gold has formed a cup and handle pattern, the miners are about to break resistance.
Who is long? or Who is going to have the guts to go long?
Tomorrow can be one of those amazing days…
Some of the pattern definitions can be very particular. Consider these characteristics identified for the cup & handle in Investopedia:
Cup and Handle Characteristics
It is worth considering the following when detecting cup and handle patterns: Length – Generally, cups with longer and more “U” shaped bottoms provide a stronger signal. Avoid cups with a sharp “V” bottoms. Depth – Ideally, the cup should not be overly deep. Avoid handles which are overly deep also, as handles should form in the top half of the cup pattern. Volume – Volume should decrease as prices decline and remain lower than average in the base of the bowl; it should then increase when the stock begins to make its move higher, back up to test the previous high. A Retest of previous resistance is not required to touch or come within several ticks of the old high; however, the further the top of the handle is away from the highs, the more significant the breakout needs to be.
The current pattern in gold seems more “v” shaped and the volume don’t seem to fit the characteristics very well. It’ll be interesting to watch how it works out.
http://www.investopedia.com/terms/c/cupandhandle.asp
Bob,
Thanks for the cup and handle details.
I forgot to look at volume.
The $CDNX index is very bullish. XAU does not look bad either.
Time to load JNUG shares.
Gold
I’m loaded up in JNUG all ready. Looking to recover the currently under water positions. I need to see a clear break out of this consolidation before adding more risk in miners.
I did however reopen my short of UVXY at 17.35 after closing it previously at 15.85
isavage,
There is no guaranty but the candles are posed for a break.
Best wishes for the breakout, which can be a strong and long one.
I hope to get on board.
I am not that familiar with UVXY but it seems ready to take off.
crawfordnews,
Did you get into BTUUQ?
I hope not long.
It tanked today from $0.62 to $0.38.
A lot of pain there for the shareholders. Fear set in.
On the BTUUQ chart is impressive what the manipulators did. From a stable price of about $2 they inflated the price to $4 to then crash it to $0.38.
Lesson, set properly your stop and do not hope.
COTTON –> monthly swing high, decisive break of 50dma and very close to confirm the YC decline.
Target for short covering = around 70 next month.
Gold –> as expected yesterday, we have bearish divergence developing.
FOMC minutes tomorrow will entail gold down in DC decline and USD+stocks continuing/resuming their dead-cat bounce.
…and next week stocks+USD+nonOM commodities will resume their YC declines (SPX and NYSE Composite unlikely to produce higher highs this week) while gold will start a new daily cycle towards new highs.
What bearish divergence?
higher high for gold on lower high for oscillators.
Which oscillators? It would be really useful if you posted a chart/charts to explain your thinking….
the usual oscillators such as adx’ d+, tsi, rsi, slow stoch..
I think you are reading the oscillators incorrectly. If they are lower than the previous highs, in my mind it potentially means gold has further to run. It should also be noted gold hasn’t breached the previous high yet.
Lower oscillators = less overbought.
Gold daily
https://invst.ly/3m8at
It should be said gold really isn’t showing clear signals either way….. Apart from the fact it is showing overbought, it could remain so for weeks before declining….
🙂 dday, what you are saying is the straightforward, mainstream conclusion that can be drawn out of bearish/negative divergence, except that lady Market does not play things logically but anti-logically.
The existence of matter (protons at the heart of an atom’s nucleus and electrons at periphery) does not exclude the existence of antimatter (electrons at the heart and protons at periphery) but rather enforces it 🙂
I tend to think gold finds its DCH today and FOMC minutes’ tomorrow will precipitate the DC decline through Friday when USD should top on day 9 to produce a left-translated DC.
Folks don’t forget Alexandur is a BSer. The same BSer who with great conviction had said the SM would scorch and for months after it only went higher. He does not know where anything is going any more than you do.
Fair enough AP, I tried to use logic, you throw particle physics at me…..enough said
DDay that made me laugh, cheers
Everyone here talking about gold, but I’m with Gary.
All excitement over in spy, qqqq, and ibb. No sense forcing a trade in gold when the setup isn’t clear.
I try to move to asset classes where I feel like the traders are having fun
Good morning.
I see gold going up, and taking the miners up. So I just got 1K shares of JNUG at $7.05.
Good trading to all.
… a return of gold towards its volatility axis at 1235 is warranted this week before it pierces its 200dma and strides to 1300.
Dday,
How are you doing? Still adding good bucks to your account?
How do you see gold and the miners?
Alex,
Can you share the observation that prompts you to say that gold will go to $1235?
How can it be warranted?
Gary,
You are supposed to be a gold bug.
Where is the excitement?
Gold is about to breakout, or breaking out!
It’s like I said a few days ago, everyone is expecting a big drop into May. I doubted it would be that easy since the boat was completely loaded to the bearish side. Everyone is expecting a pullback and retest of the lows from Dec. I have remained all in and long. Still expecting surprises to the upside as this is a bull market. I also think this is why Gary says most traders never make a dime in a bull market.
Ped was calling for Nikkei 20000 and golds demise. Of course he has disappeared again.
He will be back the fist day that gold has a down day so he can write more long winded nonsense about what he pretends to know.
It’s too late in the intermediate cycle for me to get excited about gold now. I like to buy when everyone is despondent and the weekly stochastics are oversold.
Thanks Gary. Your comment shows being prudent.
Money is hard to make. Easy to lose it.
Gary, what about gold staying in over bought conditions for prolonged periods in a bull market. We have not stayed over bought at all? Shouldn’t we see a prolonged stretched buying cycle vs the prolonged stretched selling cycles if things are truly bullish?
Really wanting silver to catch a major bid here. A break below 68 is super bullish.
https://www.tradingview.com/x/AholnPHj/
Goild, I warrant nothing. I only say that it is a large probability that gold will be rejected by its 200dma for the 3rd time towards its volatility axis set back in July before piercing the 200dma on their 4th encounter.
USX’ need, and stock market’s need, and non-PM commodities need to complete their dead-cat bounces through Friday or so and gold being now late in its DC are arguments supporting this view.
If you add FOMC minutes tomorrow to all this, then…here you are 🙂
Alex,
Thanks for elaborating. I would be cautious.
you’re welcome, Goild!
dboz,
I must admire your holding of miners/PM with this challenging situation.
I agree gold is going to go up sooner or later.
Ped, hopefully is just taking a brief recess.
Gold has broken out of Surf’s triangle. 🙂
I’m showing gold right at the lower triangle trend line. There is a possible higher trend line if one uses the overnight pivot on election night.
I would like to see gold at least marginally break above 1264. That would turn the larger intermediate cycle right translated and the odds of gold dropping below the Dc. low would go down considerably.
IMO gold is clearly in a new bull market, but also stuck in a frustrating basing pattern while stocks complete their euphoria phase.
Gary, there is a much longer term trend line from the top in 2010 to the high on 7/4/16, is this valid or too long term?
Gold to chart a shoting star today? yes, most likely 🙂
swing traders can easily short gold now with a stop right above today’s high.
as to me, I plan on buying gold around 1235 through the end of this week, as I’ve been preaching since last week I would do post-FOMC minutes.
Maybe this is a horrible bull trap.
Doubtful, there are no bulls.
UTILITY stocks have most likely already topped and are now in a left-translated YC decline –> resumption of the multi-year bear they are in!
Shorting Utilities is the safest long-term trade now available on the street!
NB: by “safe” I mean very low risk –> stop loss right above the high of this YC.
Pedestrian did a wonderful job, right from the first day he appeared on this blog, of conning more than a few into believing that gold and the miners are headed down. He had a couple of successful day trades and and some here were gushing over him as if he were some sort of a genius trader. Pathetic.
Waiting for JNUG to close the gap at 6.81 then i’ll be a buyer. Try and follow Goild trading and see how it goes first target 7.05, stop loss at the low of the last 15 mins candle from yesterday at 6.76
trade executed at 6.81, my time is 15.33 in the UK
Nope not as good at this as Golld, stopped out
Take it with a grain of salt when anyone tells you they make money day trading. Over the long haul almost no one makes any money short term trading.
What they do is they have a lot of little winning trades and then they have one big loser that costs them all their profits and then some.
Any day trader that says he held his position through a drawdown till it was a winner is just confirming what I’ve just said. It means he’s willing to hold a losing trade more than a day. That is the recipe for the one big losing trade that costs one all of their profits.
Remember if it sounds too good to be true it always is.
Thanks Gary, going to have a few more cracks at day trading. Just to see if I have the mentality to hold the stop loss positions.
I’m enjoying natgas run for now… , any projections on this from anyone?
First target would be 3.80 then 3.90, then short is my view. Not sure how to post charts but looks like a nice channel currently with a daily top at 3.39 (Cant see it making it there)
On the other side 3.259 is the 50% retracement fib level from the high of 28 dec to the low of 22 Feb,
Your call,
The weekly charts of the PMs look like there is more upside coming and the miners are looking much better than just a week ago. You will never catch me saying that I have bought JDST.
GDXJ hasn’t broken out of my bearish channel; JDST bounced this morning off the lower line of my bull channel
Still in JDST, down about 4 points…still looking for retest of December lows in miners
Test for a chart
https://invst.ly/3mbhr
Gold has been going down for years, literally, now that it has turned back up, why fight a
trend change ?
I can’t wait to get long again and make money that way… I swing both ways, haha
Still think the miners are in a bottoming process that is yet to be completed. But it might be after this next ICL. I do agree that the major low is already in (Jan. 2016)… So, after this ICL, only long trades for me
Hi, dear Victor!
NatGas may be the first nonPM-commodity to have reached its YCL….not sure yet but, even if YCL is behind, it is late in its DC and may correct soon (at least a DC decline) as oil dives towards its YCL.
Hi Alex, so my understanding is correct
So the YCL for 2017 would currently be on the 22nd Feb ?, Looking at 2016 the YCL was on the 4th March at 1.6. But in 2015 the lowest was on the 18th December.
Wow long do you think is each Daily Cycle is on Natural Gas. ?
Thanks in advance
Thank you Alex, as always appreciate your input…, long NG till it reach 4.30 but maybe try to sell and repurchase lower at DC.
Hi Victor or Alex
What are you basing a projection of 4.30 for NG on ?
for me it just long time support/resistance around here, I can afford to hold it so long as I bought it under 2$, last portion at 1.76$. biting myself for not putting all funds into it, try to play with gold instead…
When you post a chart how do you default it so that it opens in a new tab ?
The dollar should start to roll over again sometime today. It may not happen until the minutes of FOMC tomorrow. That should fuel gold over the 1264 level that Gary has mentioned. If it does, that should promote outside buying from bigger fish. We need more money rolling in outside of gold bugs. Volume is not there again today. No one is fearing this move yet as the shorts have not covered hardly at all. Until that happens, we will not get the fuel to really grab attention and bring in some larger players like we had in early 2016. All we have right now are dabblers and craps players.
Gary,
If you want credit for your hard and good work, you must be willing to acknowledge that there might be talented day traders that consistently make money.
Of course I got rid of my JNUG shares at $7.05 and then chased down JNUG to $6.75. Now I am at +$975.00; not without risk and hard work.
Good call, at least you managed to buy and sell at the same price. You have to share how you do your analysis as 7.05 was the top and 6.75 was the bottom of the daily price range.
As the chart shows you got it spot on, I take my hat off to you
https://invst.ly/3mcn6
Eurodisney, 40 days +/-
The YCL for NatG might have been set in FEB but caution should be proceeded with it in a few days, after crude oil and CRB index complete their dead-cat bounces.
Even if YCL proves to be behind us, it may retrace 61.8% as crude oil and CRB find their YCLs in May.
How can anyone talk about cycles for commodities like natural gas, cotton, wheat, etc when the prices are not driven by human emotion but by supply and demand? If cold weather is or high summer heat ramps up demand for NG, the price goes up. Too much supply, the price goes down. There are no cycles so stop wasting your trying to apply stock market studies to demand driven commodities. I have played commodities for years via futures and it is a tough game. Drawing lines on graphs and expecting that it will provide some insight is just folly.
I agree those commodities don’t have cycles.
..stop wasting your time…
Thanks Don, does the same apply to currencies ? I assume with Natural Gas then its all about the current weather forecast and the current storage levels.
So therefore if the weather forecast was initially warm and then it turns cold, the price will rise in the short term to reflect this and presumably vice versa ?
There are no hard and fast rules. I was usually successful with NG just by watching long term weather patterns but that generally only worked well in the winters. NG prices between now and the fall are determined mainly by supply although a prolonged heat wave could drive up prices. How many operators how willing to sell their product during the storage injection season is what matters now. Last year, the producers were not so eager to produce and that resulted with injections not being excessive and prices firmed. It complicated, to say the least. I expect injections will moderate again this year and the price of NG should rise. I see $4 by fall but that is just an educated guess, at best.
Just out of interest from a charting perspective, there is a gap up to 3.690 I will be interested to see if price makes it there and then reverses. Not saying that Don is incorrect but I do wonder if both play a part ?
Chart:- https://invst.ly/3mckz
Don,
This morning I joined with 250 shares of PPLT. They are up a bit now.
We shall see. The 2K shares of USO are doing good.
Today so far is not particularly a good day. It is not quite easy to make money.
I am tired and done for the day with +$1022.
Near the close gold and jnug may rise. I will check that later.
Good trading to all.
LOL, GOILD, you are on pace to make $250k per year. I would call $1000/day to be a great job!
All before lunch! LOL
“I am tired and done for the day with +$1022.”
Do the math it doesn’t add up, if you picked the exact top and bottom of every 15 minute candle up to 10:30.
I have to agree with Don and Gary. Charting is useless with commodities. I played with futures for a while and made money at it but the stress was far too much to deal with. You cant take your eye off them for a minute and using stops just invites the big player to run the stops and pick you off, and it all happens in a few seconds. I don’t touch futures anymore. Now I enjoy playing stock market ETFS .
Goild, which broker do you use? I scalp jnug .20 for 3000 shares, prefer jdst for 1000 shares to pay less commissions, I use IB but they usually don’t have jdst short shares avail.
Just bought another 500 shares of ZJG (junior gold ETF on Toronto exchange) at 9.04 bringing my total to 1500 shares. I am bullish on the miners. I also have 500 shares of GDX that I bought a few days ago.
EXK carried me to a very good day.
dboz: nice move on that EKX! Up 8%.
They had a good test on their prospective new mine. 20+ million ounces of silver and several hundred thousand ounces of gold potential. That is why the big jump today.
Goild, you said you bought JNUG this morning at 7.05 and it has gone down all day so how did you make money on it? I dont get it.
Goild,
Good call, at least you managed to buy and sell at the same price, which was the top of the range. You have to share how you do your analysis as 7.05 was the top and you said you ran it short down to 6.75 was the exact bottom of the daily price range.
As the chart shows you got it spot on, I take my hat off to you
https://invst.ly/3mcn6
Gary good luck with your $40 oil. You are always wrong on oil as you are on many asset classes.
wait Brian, it’s going to be even lower…
Victor, even lower than $40? Come on. The low at 47 was put in already,
Don, eurodisney,
I bought JNUG at $7.05 and went against me. I do not stay still.
As JNUG was going down I would buy and sell on the pull backs
This is risky and needs experience.
I had like 30 trades. If you like I can post the details of the trades later.
You bought at 7.05, sold it as it went down and then bought and sold it as it was falling and made $1022??? Good grief, my friend, you are stretching our ability to take you seriously.
The breadth of the SM has been poor the past few days and the S&P is only down .08%. The market is deteriorating internally and a few heavies are keeping it propped up. I am tempted to add more shorts to my already large short position.
I have been trying to tell you guys that Goild is full of caca. Nobody can make money they way he claims. How does he even find the time to post here is he is making a 50 trades a day? BS.
Don,
Here are the trades for the day:
All longs except for the last one a few minutes ago.
Symbol Status Order Type Trade Description TIF Order Time
JNUG FILLED AT $7.05 Limit at $7.05 Buy 1000 Limit at $7.05 4:00 PM 07:14:03 AM 04/04/2017
JNUG VERIFIED CANCELLED Limit at $7.11 Sell 1000 Limit at $7.11 4:00 PM 07:42:42 AM 04/04/2017
JNUG FILLED AT $7.12 Limit at $7.12 Sell 1000 Limit at $7.12 4:00 PM 07:46:20 AM 04/04/2017
JNUG VERIFIED CANCELLED PARTIAL FILL 700 OF 1000 Limit at $7.09 Buy 1000 Limit at $7.09 4:00 PM 08:00:46 AM 04/04/2017
JNUG FILLED AT $7.10 Limit at $7.10 Buy 300 Limit at $7.10 4:00 PM 08:01:21 AM 04/04/2017
JNUG FILLED AT $6.99 Limit at $7.00 Buy 1000 Limit at $7.00 4:00 PM 09:17:15 AM 04/04/2017
JNUG FILLED AT $7.02 Market Sell 1000 at Market Day 09:31:21 AM 04/04/2017
JNUG FILLED AT $7.01 Market Buy 2000 at Market Day 09:32:11 AM 04/04/2017
PPLT FILLED AT $91.7694 Market Buy 250 at Market Day 09:32:24 AM 04/04/2017
JNUG FILLED AT $6.9056 Market Buy 2000 at Market Day 09:40:39 AM 04/04/2017
JNUG FILLED AT $6.84 Market Buy 2000 at Market Day 09:44:15 AM 04/04/2017
JNUG FILLED AT $6.8737 Market Sell 2000 at Market Day 09:44:23 AM 04/04/2017
JNUG FILLED AT $6.92 Market Sell 2000 at Market Day 09:45:25 AM 04/04/2017
JNUG FILLED AT $6.9099 Market Buy 2000 at Market Day 09:45:40 AM 04/04/2017
JNUG FILLED AT $6.89 Market Buy 2000 at Market Day 09:46:30 AM 04/04/2017
JNUG FILLED AT $6.9144 Market Sell 2000 at Market Day 09:47:38 AM 04/04/2017
JNUG FILLED AT $6.96 Market Buy 2000 at Market Day 09:52:12 AM 04/04/2017
JNUG FILLED AT $6.9901 Market Sell 5000 at Market Day 09:54:09 AM 04/04/2017
JNUG FILLED AT $6.9656 Market Buy 2000 at Market Day 09:55:29 AM 04/04/2017
JNUG FILLED AT $6.9453 Market Buy 2000 at Market Day 09:56:14 AM 04/04/2017
JNUG FILLED AT $6.92 Market Buy 2000 at Market Day 10:00:00 AM 04/04/2017
JNUG FILLED AT $6.954 Market Sell 4000 at Market Day 10:03:48 AM 04/04/2017
JNUG FILLED AT $6.8999 Market Buy 5000 at Market Day 10:11:05 AM 04/04/2017
JNUG FILLED AT $6.9026 Market Sell 5000 at Market Day 10:13:26 AM 04/04/2017
JNUG FILLED AT $6.9062 Market Buy 2000 at Market Day 10:13:52 AM 04/04/2017
JNUG FILLED AT $6.85 Market Buy 2000 at Market Day 10:15:15 AM 04/04/2017
JNUG FILLED AT $6.89 Market Sell 4000 at Market Day 10:16:16 AM 04/04/2017
JNUG FILLED AT $6.89 Market Buy 2000 at Market Day 10:17:00 AM 04/04/2017
JNUG FILLED AT $6.8832 Market Buy 2000 at Market Day 10:19:59 AM 04/04/2017
JNUG FILLED AT $6.86 Market Buy 2000 at Market Day 10:22:21 AM 04/04/2017
JNUG FILLED AT $6.8359 Market Buy 6000 at Market Day 10:31:08 AM 04/04/2017
JNUG FILLED AT $6.8251 Market Buy 5000 at Market Day 10:38:41 AM 04/04/2017
JNUG FILLED AT $6.7763 Market Buy 10000 at Market Day 10:41:15 AM 04/04/2017
JNUG FILLED AT $6.7857 Market Buy 2000 at Market Day 10:42:23 AM 04/04/2017
JNUG FILLED AT $6.83 Market Sell 10000 at Market Day 10:53:04 AM 04/04/2017
JNUG FILLED AT $6.844 Market Sell 9000 at Market Day 10:53:47 AM 04/04/2017
JNUG FILLED AT $6.8422 Market Sell 5000 at Market Day 11:03:39 AM 04/04/2017
JNUG FILLED AT $6.8838 Market Sell 5000 at Market Day 11:17:56 AM 04/04/2017
JNUG FILLED AT $6.8563 Market Buy 4000 at Market Day 11:19:43 AM 04/04/2017
JNUG FILLED AT $6.8626 Market Sell 4000 at Market Day 11:20:45 AM 04/04/2017
JNUG FILLED AT $6.87 Market Buy 2000 at Market Day 11:21:30 AM 04/04/2017
JNUG FILLED AT $6.8356 Market Buy 6000 at Market Day 11:22:50 AM 04/04/2017
JNUG FILLED AT $6.8647 Market Sell 6000 at Market Day 11:23:58 AM 04/04/2017
JNUG FILLED AT $6.87 Market Sell 2000 at Market Day 11:24:39 AM 04/04/2017
JNUG FILLED AT $6.8958 Market Sell 4000 at Market Day 11:27:09 AM 04/04/2017
JNUG FILLED AT $6.8656 Market Buy 2000 at Market Day 11:28:37 AM 04/04/2017
JNUG FILLED AT $6.8844 Market Sell 2000 at Market Day 11:29:47 AM 04/04/2017
JNUG FILLED AT $6.8656 Market Buy 2000 at Market Day 11:30:37 AM 04/04/2017
JNUG FILLED AT $6.8844 Market Sell 2000 at Market Day 11:31:34 AM 04/04/2017
JNUG FILLED AT $6.8929 Market Buy 2000 at Market Day 11:32:14 AM 04/04/2017
JNUG FILLED AT $6.8456 Market Buy 4000 at Market Day 11:44:47 AM 04/04/2017
JNUG FILLED AT $6.8364 Market Sell 4000 at Market Day 11:51:07 AM 04/04/2017
JNUG FILLED AT $6.8508 Market Buy 4000 at Market Day 11:51:45 AM 04/04/2017
JNUG FILLED AT $6.8399 Market Buy 4000 at Market Day 11:52:31 AM 04/04/2017
JNUG FILLED AT $6.828 Market Buy 4000 at Market Day 11:56:00 AM 04/04/2017
JNUG FILLED AT $6.8301 Market Sell 6000 at Market Day 11:59:58 AM 04/04/2017
JNUG FILLED AT $6.8537 Market Sell 4000 at Market Day 12:06:24 PM 04/04/2017
JNUG FILLED AT $6.8273 Market Buy 4000 at Market Day 12:21:54 PM 04/04/2017
JNUG FILLED AT $6.8443 Market Sell 4000 at Market Day 12:24:26 PM 04/04/2017
JNUG FILLED AT $6.8178 Market Buy 4000 at Market Day 12:32:35 PM 04/04/2017
JNUG FILLED AT $6.7746 Market Buy 4000 at Market Day 12:41:26 PM 04/04/2017
JNUG FILLED AT $6.7924 Market Sell 4000 at Market Day 12:43:50 PM 04/04/2017
JNUG FILLED AT $6.8243 Market Sell 4000 at Market Day 12:51:52 PM 04/04/2017
JNUG FILLED AT $6.875 Market Sell 2000 at Market Day 01:04:17 PM 04/04/2017
JNUG FILLED AT $6.83 Market Buy 2000 at Market Day 01:08:14 PM 04/04/2017
JNUG FILLED AT $6.8544 Market Sell 2000 at Market Day 01:11:50 PM 04/04/2017
JNUG FILLED AT $6.83 Market Sell 2000 at Market Day 01:19:36 PM 04/04/2017
JNUG FILLED AT $6.98 Market Sell Short 2000 at Market Day 03:46:27 PM 04/04/2017
JNUG FILLED AT $6.965 Market Buy to Cover 2000 at Market Day 03:49:36 PM 04/04/2017
Absolutely ridiculous! That’s not scalping folks.. That’s lunacy!
Awesome! Thanks for sharing Goild & please consider changing your handle name to…..
The HONEYBADGER !
hey guys – love the energy here – bot jdst 13.65 for tomorrow – expecting wed/thu xau selloff.
Wow, you take day trading to a whole new level! Are you using any charts (one minute I presume) that provide you with buy and sell points or are you just scalping, like the Algo driven machines, for small profits on each trade?
Has anyone else noticed that gold is being run up through the night , peaks right after the market opens and then sells down ?
Still holding my JDST and still expecting JNUG to test the March lows and maybe a test of the January lows as well. The buying (JNUG) the last 3 days has been weak, GDX was on the SOS list, and todays late session push left a hanging man (JNUG), which can also result in a continuation but not so much after a breakout. We`ll see, I`ll judge in the first hour tomorrow whether to hold or stop out and wait for a re-entry later this week.
GOILD my eyes are spinning. Your commissions must be crazy and eat into your profits . Do you do your own taxes? My accountant bill is higher because he has to go over every single trade and in a week you blow away my yearly activity!!
Christian,
With the profits I will drink to your health!
Don,
I used 5 minutes charts. Decisions are taken at support/resistance. And experience.
KHT, My accountant does the reporting.
Experience my Ass..! Lol. JNUG was consolidating sideways all freakin day long.. all you had to do was exercise a little bit of patience before pulling the trigger, instead of trading in and out like a maniac!
Maybe I am the one full of caca. Jeez, that is some big time trading. The commissions would not be too bad considering that he is buying large blocks. My commission is 4.99 per trade no matter what the size.
UTILITIES cast more signs of having found their YCL last week.
I will short XLU tomorrow as a long term position.
Error: YCH not YCL
Momentum in the Miners has now switched to the upside.. I would advise caution if you’re holding DUST/JDST. In fact, if momentum holds, Miners could continue to bounce and tag their descending trendline [Aug 2016/Feb 2017] before we see any kind of significant correction.
Advised caution is duly noted and appreciated, however, I`m not sure though exactly what momentum you are referring to. If you look at a daily the rounded bottom in Dec `16, volume increased into the lip of the bowl and then the advance followed by heavier volume until the consolidation in early Jan. Volume decreased into what I view as a blow off in Feb and volume increased during the sell off and through the rounded bottom right up to the right lip on March 15 and has been declining ever since including today. The supposed rally fizzled. Momentum still seems to be down from what I see.
https://tvc-invdn-com.akamaized.net/data/tvc_29a3e51e320bdca1e4a3d3b8f5c586a6.png
Christian,
You probably have a problem, I am not sure you even know about it.
And it is till you overcome that problem that you have a chance to be an excellent trader.
Yes, you’re right.. I have a problem and don’t even know about it 🙂
Lol @ Goild!!!! Man you are crazy and making your Broker super rich. But if that’s your style of trading and it works for u keep doing it.
I have been doing some research and came up with a new strategy to trade gold and miners. It will not make as much money but the success rate is alot higher maybe like 90% wins. If anybody interested let me know
I would be interested 🙂 Let me know [email protected]
I am hoping for the Nikkei to continue tanking tonight which will strengthen the Yen and fuel the uptrend in gold. As Gary said, 1264 and over is a good sign. I think 1300+ comes into play should we get over 1264.
Also, if any of you market gurus can explain what will happen if the Fed minutes show clues they are going to unwind QE and also keep raising rates? How do you see that affecting the dollar and gold?
GDX and GDXJ flow through tomorrow would be a good sign of more upside. They are looking bullish on the daily and weekly.
Dollar could fall flat tomorrow and give further fuel for a USDJPY drop.
Does anyone think it’s possible we just keep going up from here for some time with no pullbacks leaving many behind?
A lot of people sitting out waiting for a big pullback. Maybe one does not come?
We have a ways to go but I like this idea.
https://www.kimblechartingsolutions.com/wp-content/uploads/2017/04/silver-long-term-inverse-head-and-shoulders-april-4.jpg
Straight up also creates a lot of pressure on the shorts and could give fuel with a sector short squeeze.
Goild,
Thanks for sharing your sample trading day. Your post has certainly provoked plenty of emotional reactions from people.
I say: Well done, so long as you can achieve consistent profits.
Which, after all, is the goal.
Getting back to your comment from a couple of weeks ago:
What more could you want?
(PS: That’s not a rhetorical question — I’m interested in knowing your answer!)
swing high for gold; short-term risk for gold bulls increases substantially!
crude oil at resistance zone – not much scope for the dead-cat bounce on the upside left; it may have topped already along with CRB index (and NatGas too).
Good morning,
zkotpen,
Good to hear from you.
I forgot but I take your question is about trading.
What else do I want?
Well, on aspect of my trading might be as Christian said “lunatic.” Ped also is surprised.
But as you said what really counts is whether one can consistently make money.
Do I want to change my trading? The answer is that I still want to do many day trades as to me it is a challenge to make money every day, and the path to it is to trade. I like to improve, by being more patient and waiting more. Some times I dream to trade like Seykota, taking all decisions after the market closes, but in fact I do a bit of it as currently I have USO and PPLT. I have mentioned that a combination of day trading and swing trading probably works best for me.
So what I want is to improve my day trading by being more patient, waiting more, balancing shorts and longs, and preferably going with the trend.. And increasing my swing trading horizon.
I can envision a day where I could be making $3K-$5K a day by day trading and so I am looking forward to it. I like very much the challenge of the live action.
Perhaps by the end of the year I will be solidly footed at the intermediate trading level.
The comments of all of you have indeed helped me growing as a trader. Thanks!!!
Perhaps some useful definitions are:
Beginner level: from blowing up accounts, to surviving.
Intermediate level: consistently makes money. Can make from some money to a good living.
Advanced level; He/she is getting rich.
Master level: Is already rich.
Robert,
Yes, I would like to hear your thoughts about a possible approach to trading PM/miners.
Got $1K shares of JNUG at $6.74 which is yesterdays support. Just to open my appetite.
Goild, sorry to say but that appetite will get sour soon.
if you wanted to buy something then a stock index other than transports’ and Russell would have been better as SM is about to complete its dead-cat bounce.
USDJPY (now at 111.1) is en route towards topping on Friday at its 50dma (about 112.7 on Friday) and it will make the main driver for USX going higher (EURUSD will be more of a laggard, it has support at 1.063) –> FOOD FOR DRIVING GOLD TO 1235!
Alex,
Yes, you are probably right.
For me is opening a trading path for the day.
I might sell it shortly for a quick $50 profit.
OK Alex,
Sold 1K shares of JNUG at $6.79. And will let the safe fully fall, break, and then pick up the riches.
🙂
GOLD, you yellow metal, I’m waiting you at your Volatility Axis, at 1235 on Friday!
See you there!
Gary how come your cycles never work for crude oil? I notice you are almost always wrong on your crude oil price calls.
First off remember I never short. It’s just too hard to make money on the short side. You never know what is going to just be a bounce and what is the bottom.
I started buying energy stocks at the end of March just in case this turned out to be the bottom. So I would hardly say my energy call has been wrong. We got in to ERX at a little over $30.
erx going sideways for now.
SPX to be capped @ 2383 – resumption of the YC decline afterwards.
Crude oil and CRB index should lead SPX with their YC declines – today’s inventories’ report may be the catalyst.
If this is an intermediate cycle low (it is 22 weeks into the cycle after all) then we should have several months before the market tops again.
We are seeing the identical pattern I pointed out yesterday with the PMs being pushed up right up until the opening of the American markets and then soldl down. Given that a big part of the American gold market is paper market that can be manipulated at the will of some big players, we should not be surprised. Asian trading, on the other hand, is almost all about physical gold and not so easily jerked around.
Good morning Don,
Hope you have a great day today.
Gary you bought ERX way higher 2 yrs ago and had to wait to yrs to break even on your ERX not long back. Now you are calling for oil at 40 or lower which will very likely be a wrong call yet again.
Goild — I’m gonna go ahead and reiterate what I said one last time and then I’ll let you be. I promise.
You trade a hundred times a day and occasionally you’ll even boast about it. A few weeks back, I read somewhere on the blog that you traded in and out of the Market between 300 to 400 times in one day!! That my good man is NOT NORMAL! And if common sense doesn’t tell you this, then I will.
The few individuals on this blog giving you a thumbs up for making some moolah simply don’t know what they’re saying and have no clue how to trade like a pro. Period.
A skillful Trader trades less than a dozen times a day and makes money consistently. A swing trader trades even less than that on average. You, on the other hand, are just looking for a rush because you’re bored with life. Throwing money at your Broker while making a few pennies on the dollar isn’t the way to do it and it will never fill that empty space inside you. This isn’t Las Vegas and you’re not sitting at the slot machines! That’s why I’m picking on you. BECAUSE YOU CAN DO BETTER AND YOU SHOULD.
Long story short: I’m just here to give you a little nudge. Take it or leave it..!
Happy trading 🙂
GOILD got bashed and for his posts about his trading and responded to the questions, very well I might add.
For criminy sakes just let it go already!!
Oh shush you..!