Seems like a pretty good entry point, no? Any reservations?

With Fidelity, buying SPPIX (for GDX short trade) requires a $15,000 purchase minimum, so I won't be using it for my wife and my small IRAs. Also, there is a $75 fee for selling before 180 days (SPPIX is a mutual fund), which coupled w/ trading commissions is $89, or about 0.6% overhead cost on a $15K trade. Just FYI if you use Fidelity.

thanks, i bought a few shares at 6.15. We'll see, but I do like the pattern.

+1

Steve, Matt, anyone else, if you would comment on IDT and Friday's action - dropping 11.5% on heavy volume -, I am all ears. It went down after the earnings release, which I don't believe was that bad, probably simply below expectations/estimates. Given that Friday's candlestick was solid - no wicks, notably none on the down side - I am expecting it to go down further. There appears to be support at 15.50, but I'm not a good judge of how strong it is. I had bought late in the afternoon at 16.64, figuring it'd stabilize and not close at the low of the day, but I was wrong. Anyway, trying to decide whether to get out first thing tomorrow and reassess or whether to ride what I believe is a very likely further downside.

both stocks are near support. In case you'd rather get in there instead of waiting for b/o.

Thanks for the reply, Steve!

Haven't heard boo about either NE or RIG or DO from anyone. Steve, do you think these are good for more than just a quick shot on the initial b/o?

I added to my position yesterday at 47.34.

The projected compound annual rate of return for QLD is 168%, based on those ten trades. Really good; not quite as good as the GDX system, which has a compound rate of 194%.

Since there is no big rally in the dollar (at least UUP) and silver and gold are holding up, does that suggest this is just a pullback, representing a buying opportunity?

Wow, I wish I could trade like you do! Seems like you keep about a thousand stock charts in your head. How do you do that?

Caught a trade on this, having bought yesterday. Thanks pebs!

what are you referring to? Which indicator(s) now pointing down?

Looks to be right at the upper trendline.

Oh, and btw it just broke its 52-week high today.

I don't know that there are precise or insightful answers to this question, but how do you find stocks like BID (Sotheby's), that go pretty steadily up at an astonishing rate. Since March '09 BID is up over 500%. Granted, that was a generational low, but still, 500%; I've made maybe 30% since then (that may just be a reflection of my lack of ability!). I made some money on BID along the way, but only maybe 1/10 of what buying and holding would have done. Always figured it'd come back down to maybe twice its lows in '09, but nope, just kept on climbing (well, a decent pullback last July).

thanks rank10! I have to be more careful.

pretty good bounce for SLV - about a 50% retrace at the high so far this morning. I was considering shorting, but admittedly only based on its oversold condition and that big black candle yesterday. But it's running with the market and if the market goes up, there goes the short, eh?