GC keeps making HH's and HL's. Seems to be heading for another attempt (3rd time) at breaking and holding $2000 level.
I tend to agree and I hope so! Barrick is my largest single-name holding! I don't see much resistance between here ($180) and $190 in GLD. I'm also keeping a close eye on DXY and the USDJPY and EURUSD crosses in particular. My GC delta will stay positive (subject to charm) until $1975, so I welcome the continued grind up.
1. What a boring day. One small put roll up. 2. Can't complain about gold. It's doing what I want it to do. 3. I played MSFT earnings to the downside by buying some weekly ITM puts and shorting NQ in the last 15 minutes. MSFT is up $10 after earnings release. This will cost me my P/L from yesterday and today. I'm disappointed that I sucked myself into this. Roast me!
LOL. New dilemma. I can now exit NQ with a scratch. This move down from the evening open feels very unhealthy. I'm going to stick with the short NQ for now, but it'll be an interesting evening.
NQ has already broken today's (1/24/23) low, so it might have much further to go, but of course follow your trade plan regardless.
1. It was definitely a more interesting day than yesterday. I hacked up my ES trades but still modestly positive. I don't think I did anything wrong--I had to manage my deltas in the morning and the ES just climbed all day. Kept my promise to myself by selling the SPX calendar upon touching 3980. 2. OMG--a green TUT day! 3. Scalped some GC in the morning. Added some short calls on strength near the end of the day. Other: Closed the MSFT long put in the morning for a gain. Tonight is TSLA--just going small by selling a 135/155 strangle expiring this Friday.
Interesting price action in GC this week with local lows at around 6:30 MT. Added to my GC position with 4 GC contracts filled @1950.30. Will it get back up into the '60s? So far so good... 30 minute candles
Well that didn't quite work. I should have closed the additional longs half an hour after I bought them as GC went up to 1959. 1. I peeled off some ES puts at the close and bought a March 4030/February 4000 put calendar. I'm setup short and looking for volatility to return. 2. TUT was red again today--back to normal! 3. Still long the additional 4 GC contracts. Bought back some of the calls in the morning and sold them back out near the end of the day.