Cmunny, I bought a few of the miners on 3/12, looking for a
swing trade. I'm a little confused by the posts. Are
you still holding those, or are you just day trading? I see
someone calling what looks like a bull flag in silver, but the gold
rally is long in the tooth. Thoughts? Thanks.
Yes, 3/12, looked like a breakout didn't it? But they left
gaps underneath all of that pattern and filled them by smashing the
fakeout, which is why I usually focus on buying gap fills... Today,
looks like Fed has put a hold on action- there is nothing breaking
out out and the intraday on the majors looks very mixed.
There is one more undercut and gap to fill on a lot of these
stocks, but we're most of the way down on the range. Gld has
about $10 to $12 more on the downside to major support, but I would
expect the miners to have bottomed before then.
Silver, part deux
Posted by parrrich on 19th of Mar 2014 at 01:06 pm
Just went positive, and looks constructive as it has bounce off lower trendline on bull flag AND the 50 dma.
If the SLV rally that
Posted by rbreese on 19th of Mar 2014 at 01:10 pm
If the SLV rally that is happening does not light up the miners in that group. Hang on sloopy.
Which ones are you shorting today rbreese ... would you like some suggestions?
Posted by cmunny on 19th of Mar 2014 at 01:13 pm
THX as I am short
Posted by rbreese on 19th of Mar 2014 at 03:02 pm
THX as I am short SLW and doing fine.
Miners
Posted by mdgfain on 19th of Mar 2014 at 01:56 pm
Cmunny, I bought a few of the miners on 3/12, looking for a swing trade. I'm a little confused by the posts. Are you still holding those, or are you just day trading? I see someone calling what looks like a bull flag in silver, but the gold rally is long in the tooth. Thoughts? Thanks.
Yes, 3/12, looked like a
Posted by cmunny on 19th of Mar 2014 at 02:04 pm
Yes, 3/12, looked like a breakout didn't it? But they left gaps underneath all of that pattern and filled them by smashing the fakeout, which is why I usually focus on buying gap fills... Today, looks like Fed has put a hold on action- there is nothing breaking out out and the intraday on the majors looks very mixed. There is one more undercut and gap to fill on a lot of these stocks, but we're most of the way down on the range. Gld has about $10 to $12 more on the downside to major support, but I would expect the miners to have bottomed before then.
Thanks.
Posted by mdgfain on 19th of Mar 2014 at 02:11 pm