Since we didn't splash down, we went short term moderately
bullish by putting on our usual weekly 1pt spreads to take
advantage of this little slack area back up to the 9dma on the weak
stocks that got hit last week. Averaged 26c on the on
the 20/19 put spreads on Mon and Tues, closed at 11c, 40 lots, so
not too bad for a pretty bad trading environment. Overhead
gap at 21.25, likely resistance, so we will try to fill a bit
higher with a half size of GDX bear call spreads.
A lot of talk about how great NEM is doing, but unless the GG's
of the world can get through their 9dma and resistance from last
Thursday, the main trade looks to me as continued downside for most
of the sector. SBGL stalling right at the resistance set up
from last Thursday.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
GDXJ MODEL PORTFOLIO 2015 - Closing GDX 20/19 bull put spreads, looking to sell 21/22 call
GDXJ MODEL PORTFOLIO 2015 - Adding bull spreads, SBGL
Posted by hatefalseweight on 25th of Feb 2015 at 12:06 pm
Since we didn't splash down, we went short term moderately bullish by putting on our usual weekly 1pt spreads to take advantage of this little slack area back up to the 9dma on the weak stocks that got hit last week. Averaged 26c on the on the 20/19 put spreads on Mon and Tues, closed at 11c, 40 lots, so not too bad for a pretty bad trading environment. Overhead gap at 21.25, likely resistance, so we will try to fill a bit higher with a half size of GDX bear call spreads.
A lot of talk about how great NEM is doing, but unless the GG's of the world can get through their 9dma and resistance from last Thursday, the main trade looks to me as continued downside for most of the sector. SBGL stalling right at the resistance set up from last Thursday.