I'm anticipating serious upside in Gold and Silver miners today. Potential for 10-15% moves across the board. Oil is unclear but more chances of sustained upside then downside.
%% Good uptrends, tech inve + 3 x inverses/friday close thru mondasy. . Took some profits on non large cap, tech X 3 ETF/ market order exit. Almost got in sqqq, but i have enough tech X 3 inverse from FRIDAY........................................................................ SLV is in a good long term uptrend/ i have no idea what its doing on a 5 minute chart + dont care what the 5 minute noise is on a 5 minute chart/LOL [I dont use market order on exits all the time , but i do like them sometimes. And i told one SPY trader, he got a semi\bad fill , on his market order,= i'm not trying to take out a 00.20% profit also] ........................................................................................................................
I repositioned significantly this morning. Sold my Copper miners at a healthy profit, added to my Kinross position, sold ESI at a loss ( bad earnings ), rebought or added to several Oil stocks on the intraday dip. My instincts were that Copper would top out early ( check ), Oil was dropping off for no reason ( check ), and that Gold/Silver miners would rally ( fail so far ).
Significantly overweight my favorite mid cap / junior Oil stocks now hoping we get the usual bullish move through Wednesday inventories report. Copper we need to see what transpires short term ( I have no exposure now ). The last time Copper dropped a little from a new high, the stocks tumbled quite significantly. From an earnings point of view, ERO and CMMC are good. SURG Copper is a junior I've been trading took forever to pay off on my most recent position but I sold it today. HBM and TKO I'm thinking they got expensive on this run; HBM has in the past behaved badly when it goes above $10.
Interesting re copper and other trading strategies, I like FCX and steel X CLF at new highs. I'm in SQQQ SOXS UVXY etc