There are now a number of outright bull traps with the earnings
gapdowns in the sector. Once NEM and ABX piddle out, I
don't see what takes us higher here. Raised some more
cash on LSG, KGILF, NG, SBGL, OCANF and 1/2 position short GDX
weekly CALL spread at 21 and directionAL bear put spread ,
1/4 position 23 / 19 for March. Not necessarily bearish
on the metal, but most stocks are in very precarious situation when
volatility picks up after expiry today. It won't take much to
send most stocks careening to the next ledge down. $19.47 GDX
area looks to be fully in play.
GDX , Bearish with all the earnings bull traps
Posted by hatefalseweight on 20th of Feb 2015 at 10:09 am
There are now a number of outright bull traps with the earnings gapdowns in the sector. Once NEM and ABX piddle out, I don't see what takes us higher here. Raised some more cash on LSG, KGILF, NG, SBGL, OCANF and 1/2 position short GDX weekly CALL spread at 21 and directionAL bear put spread , 1/4 position 23 / 19 for March. Not necessarily bearish on the metal, but most stocks are in very precarious situation when volatility picks up after expiry today. It won't take much to send most stocks careening to the next ledge down. $19.47 GDX area looks to be fully in play.
Closing all short monthly puts. Very dangerous situation in PM stocks
Posted by hatefalseweight on 20th of Feb 2015 at 02:18 pm
Collapse very possible with all the bad news. Might end up net bearish by the end of the day.