I Was “Shaken Out”!!!

Thursday, March 23, 2023. In my previous posts, I had commenced my very first trade into the double-leveraged ETF on gold, that being NUGT.

I was so clever, because I could see gold bottoming in my timer, and thought I’d jump on it early back on 3/1… and I did! So, what happened?

It was lifting off just as I anticipated, and I was feeling so smug, and then it turned back down… and I got out with an 8.2% loss… in at $32.27 and out on 3/7 at $29.625. NUTS!

Then, it turned right back up… here we are on the 23rd… and NUGT rose JUST AS I HAD thought that it would, and is $39.44 as I type this… DOH!

Not to fret too greatly, as ALL our other metals holdings have completely benefitted by this price rise.

Now, the trading system HAS given buy signals SINCE I bought and got “shaken out” of my trading position… It signaled to Buy on Tuesday the 21st, and is generating another Buy right now, as I type this.

Further, the same system on GLD, the price of the metal itself, gave buy signals on 3/16 and 17… It’s approaching, so as to challenge its previous 52 week high of last April 18. How much you wanna bet that if it should break through that point of resistance, it takes off real good???

I am contemplating re-entering a trade. Why not? I’ll think on this more in a bit… I’ve no time right now….

JUST jumped back in at 2:20 pm ET at $40.054 a share. It’s a gamble, but if gold were to breakout into new 52 week highs anytime soon, this thing could scream!!! Let’s see what happens…

Harold

Fed Shot That All to Heck!

Tuesday, March 7, 2023. The Fed spoke, and everything changed. Rates rose, bonds dropped, stocks fell, as did the METALS!

I sold out of my NUGT position for an 8.2% loss. You stop your losses quickly, so as to live another day. It’ll be a little time yet, but I’ll keep an eye on all of this, and attempt to move back in at a later time on another buy signal.

Harold

Will We Confirm?

Friday, March 3, 2023. I called the bottom of the metals market the other day. I took on a small trade in NUGT on the 1st. Prices are up a decent amount overseas overnight last night. If they come to our shores this morning, it should translate into a nice opening pop in my initial NUGT position.

Now, I will be watching the technical indicators in the trading system I presently have in place. As they should fire a BUY, I’m going to add shares, perhaps double-up on them.

I’ve a number of swing-trading friends, and I alerted them all about GLD and NUGT, and some got back to me to say they would or were watching them, and that they would communicate to the rest of us when their systems signaled. If we were to make this a real habit or pattern among us… we will have created what is referred to as a “Trading Room,” where traders gather and swap trades setting up in their systems. We just then look at them in our own, and decide whether we want to participate in the trade as well.

IF all goes well today, I would expect a number of systems signals to give BUYs to these friends, and because MANY traders the world over employ similar systems, traders getting BUYS and taking on positions are what help to truly get these rallies up off the floor and moving.

As I should hear word of friends getting BUY signals, and taking up their own positions, I’ll add content here.

R U Ready?!?!?

Harold

Nibble A Bit…

Afternoon of Wednesday, March 1. So, following my comments and ‘advice’ of my last post below, I have taken a small preliminary position in NUGT, a 2X leveraged fund of the miners index, as the metals have continued to move up overnight overseas, and here in the US today. I do NOT have an actual Buy signal yet, but a rather high conviction that it will.

Should I get a buy signal, as I hope and expect, I’ll add to my current position and report it here. I said I had a new trading system in place, and I do… I am hoping this might generate that first profitable trading signal for me, as the Xpert Timer told me I could expect a turn up in the metals, and it appears to be getting underway NOW!

Let’s see what happens, I bought in at $32.27 a share about noon EST.

Harold