With the reversal buy signal on the GDXJ, we'll pop our head out
and see which issues are actually still green from 2/20/15 , the
bottom of the fake-o dead cat bounce a couple of weeks ago, till
today. The far right column on the scan screen grab is the
pct gain over the past few weeks.
A few have been screaming out of the PDAC meetings, some
developers have been largely immune, and some of the best earnings
plays have held in.
Claude resources has been added to the portfolio.
Spectacular breakout has held up during the meltdown for this
Saskatchewan hunt and peck small miner. They ran into some
high grade and should be set for a year or two (chart is a few days
old but similar).
Eastmain ER.to has been on a scream all week, spec play.
BAR.to had a big run and gave it back but didn't collapse -
it's more of a driller.
LYD.to had lots of volume and was green late last week. We
added to our position there. TGZ.to filled gap in its big runup and
finished strong this week near highs. CNL.to also had a
big run last week, and we added some there. It go whacked
this week, but rebounded today. KGI.to looks
magnificent, PG.to still near highs, little less beta, and
BVN is low beta but very strong lately. MVG was green, best
of silvers, which were better in general. PPP looks ok, did
better than most the past few weeks.
We have 10 days to March options expiration and FOMC, which
makes it about time to run the other way and drain off some of the
put credit out there. We didn't get some of our bearish
high delta put spreads back on in time for the jobs report scam,
but the May 28 long puts have been getting the job done and trading
at 1.0 delta from about 23 down. We're going to try to book
profit and roll those all the way down and start over at the 20
level. This fake account has had some problems
executing options trades the past few days .
The 28 May long puts were around 35 delta at GDXJ 30.7 (Jan 30,
2015), 50 delta at GDXJ 28, and about 100 delta at GDXJ
23. We have moved to this sort of portfolio setup to
deal with the outrageous overnight dislocations and naked shorting
abuses in the PM sector. Had we reallocated a bit more
conservatively the past month, especially the last three weeks, we
would have made a nice percentage gain on the overall portfolio,
while maintaining (and adding to) some outperforming longs.
For instance, with no other actions taken, a fully hedged
portfolio ($125,000 at GDXJ $30.7 hedged with 40 GDXJ 28 May puts)
would have stopped drawing down and started increasing in value
once the percentage of stock held (for instance 60% long stock)
when the delta of the puts hit the value of the pct long
stock. As it is, we're still up 5% instead of being
completely blown out at the lows.
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GDXJ components green since 2/20/15 vs index (-13%)
Posted by hatefalseweight on 11th of Mar 2015 at 09:34 pm
With the reversal buy signal on the GDXJ, we'll pop our head out and see which issues are actually still green from 2/20/15 , the bottom of the fake-o dead cat bounce a couple of weeks ago, till today. The far right column on the scan screen grab is the pct gain over the past few weeks.
A few have been screaming out of the PDAC meetings, some developers have been largely immune, and some of the best earnings plays have held in.
Claude resources has been added to the portfolio. Spectacular breakout has held up during the meltdown for this Saskatchewan hunt and peck small miner. They ran into some high grade and should be set for a year or two (chart is a few days old but similar).
Eastmain ER.to has been on a scream all week, spec play. BAR.to had a big run and gave it back but didn't collapse - it's more of a driller.
LYD.to had lots of volume and was green late last week. We added to our position there. TGZ.to filled gap in its big runup and finished strong this week near highs. CNL.to also had a big run last week, and we added some there. It go whacked this week, but rebounded today. KGI.to looks magnificent, PG.to still near highs, little less beta, and BVN is low beta but very strong lately. MVG was green, best of silvers, which were better in general. PPP looks ok, did better than most the past few weeks.
We have 10 days to March options expiration and FOMC, which makes it about time to run the other way and drain off some of the put credit out there. We didn't get some of our bearish high delta put spreads back on in time for the jobs report scam, but the May 28 long puts have been getting the job done and trading at 1.0 delta from about 23 down. We're going to try to book profit and roll those all the way down and start over at the 20 level. This fake account has had some problems executing options trades the past few days .
The 28 May long puts were around 35 delta at GDXJ 30.7 (Jan 30, 2015), 50 delta at GDXJ 28, and about 100 delta at GDXJ 23. We have moved to this sort of portfolio setup to deal with the outrageous overnight dislocations and naked shorting abuses in the PM sector. Had we reallocated a bit more conservatively the past month, especially the last three weeks, we would have made a nice percentage gain on the overall portfolio, while maintaining (and adding to) some outperforming longs. For instance, with no other actions taken, a fully hedged portfolio ($125,000 at GDXJ $30.7 hedged with 40 GDXJ 28 May puts) would have stopped drawing down and started increasing in value once the percentage of stock held (for instance 60% long stock) when the delta of the puts hit the value of the pct long stock. As it is, we're still up 5% instead of being completely blown out at the lows.