Just went SHORT 0.5% risk on GDX @ $22.02. with stop loss at original entry point $22.43. So that makes original trade short a breakeven if I am wrong and this one only 0.5% risk. So playing with some profit here and adding to a winning position. As far as BOX it looks like a good buy at this level $18.50. Planning to buy into it again...
So far I have been mentioning several stocks I like. I guess I will update periodically but not as detailed but only to continue the stocks mentioned thus far. BAC = LONG @ $24.52 Stop loss @ $23.83. Target $32.
@themickey I saw your comments in your journal but I thought you were LONG GDX yesterday. Hope you made a profit if you were. I had some time to commment and just updating my Journal. Since I got back in on some of my trades except JBLU so I thought I should continue this Journal full circle and complete these trades. Again will not post as much detaied charts from now on and will not likely post NEW trades. In retrospect I should have held JBLU but knowing I would not have as much time to monitor trades on vacation I chose to bail for only break even but that was up 3% in last 2 days. If I get another chance I may re-enter this trade. So my TA continues to pick some juicy trades, even though my skittishness about monitoring while on vacation left me not profiting from this. CENX yesterday had a horrible day down >5%. I expected volatility but not THAT much. Today that reversed and I bought back in same number of shares as before at $16.01 with stop at $15.23. So I made money by buying lower IF the trade continues higher. Aluminum prices looking very good so I expect to make money here. This accounts for about 0.29% of my trading capital so this is a substantial position. Also decided to get back in on NSC at the same price I got out with same number of shares. So that exit was meaningless except for commissions. Tried to get a better price but it did not happen. Actually losing so far on the reentry. SRPT, BOX, BAC all profitable so far but just barely. GDX SHORT still strong and making bank. Will keep stops where they are now. If hit they would result in minimal 0.3% loss so right now playing with mostly profit. Since this is a rather large position (nearly 50% of my trading capital) the continuing expected move down could make for a great year IF it continues. I STILL have NOT seen the big explosive move I am expecting in GDX. We could and hopefully will see a MAJOR washout of gold bugs in the near future, or my ass handed to me and lose on a lot of profit if gold takes part in the recent commodity run. GDX needs a convincing break below $21 for me to feel like my TA on this trade is right on the money. Until then it's just a good short term pick. Main profit has still been from the large positions on GDX SHORT and LONG CENX. Briefly, SPY clearly broke out of the pennant formation and now has a short term oversold level. It may continue higher but I expect a retrace to the EMA 39 at around 2436. That may be a good time to buy long for those that missed the move. I expected a bit more volatility with prices hovering in more bearish territory toward blue line before breaking out NEXT week but it broke out this week After only a few hours of volatility HOWEVER, again I'll say that my TA was pretty accurate with regards to price action. USUALLY, when I am expecting moves they occur slower than I anticipate (like in GDX explosive move I am expecting) but this was a bit faster. Only if we break a bit below 2420 and stay there would this move need to be reevaluated. So that is the line in the sand at which we could be looking at just a trading range forming here instead of a new leg to the UPTREND but with recent breakouts in Transports as described previously I think that is not the case. I tthink this is still a likely breakout. Trade what you see, Eganon
So I'm still long my CENX calls, right were I bought them ! +delta, -theta. Been a wild ride. One of the nice aspects of being long vol as a vehicle is on a gap down to support like yesterday you can hang in since no more than your prem is at risk (yes, I know there are trade off's). I'll prob be out tomorrow either way, only 9 days to expiry. And bought JCP ATM puts at the close, same expiry, reversal back to downward trendafter today's big pop.