Fills were 2.00 on the TLT calls. 1329.30 on the MGC. 1.68 on the GDX. Nothing like getting flat. It rights all wrongs and resets the game. Should have done that sooner.
Not doing anything today, but looking at GVZ vol is pricing in the possibility of another Apr./ Jun. type move. I think this is highly unlikely as it would be extremely rare to have three panic moves in this short a span of time especially now when the commercials hold most of the longs in the market. Will more than likely stay out of the market until the fed on Wed.
One of the reasons I never take off early on Fridays is that a lot of weird things can happen Friday afternoons. I just got long a 1 lot of mgc at 1320.80 and bought 3 Oct. $25 Slw calls for 1.30. Last night and yesterday I went and reviewed what my mistakes had been the last week and a half to cause me to take the hit I took and I concluded that my mistake wasn't in trying to catch swings in gold, as some times it takes me a few tries to get it right, but it was holding on to the mgc position for too long after I had turned bearish on the market. I had delusions of big money and holding that 2 lot through a downswing and then being able to pyramid it into a huge winner. Instead, I should have dumped it and just taken small pecks at gold like I normally do when trying to establish a position. Today, all day I worked on my plan and recommitted to what makes me profitable. With that in mind, I feel very good about both of these trades and that the market is comfortable taking longs home into the weekend. Obviously I could be wrong but I'm confident I'm not making this trade emotionally as according to my plan it's a very solid entry. The size is small enough as not to worry about it. Bottom line is, when you swing trade don't try to become a position trader. Lesson learned.
Out of the 2 of the SLW calls today at 0.98 still holding one and the mgc one lot. Just cutting size as I didn't think today's action was particularly bullish and reducing risk in front of the next day and a half is important. Positions: Long 1 OCT. $25 Slw call @ 1.30 Long 1 Dec. MGC @ 1320.
Still long, the same positions and didn't do any trading today. Also, won't really do anything until after the fed meeting tomorrow.
Added one lot to mgc at 1334.70. Will add more if we stay up this high by the close probably just another one lot and will probably also buy more SLW or gdx.
Added another lot at 1343. 70. I also added a 2 OCT $26 slw calls for .96. Sorry I was a little late on reporting those fills but I'm obviously more concerned with the market action than posting in here.
Long one last mgc @ 1360.30. Rounding the total out at 4. I'll update later on the whole sha bang and what I think going forward. I will also update all open positions.