GDX options per NFTRH+ update yesterday
Yesterday we did a little in-day micromanagement of GDX in an NFTRH+ update based on some hints I was seeing. I have opened the update up for public consumption because once in a while I really should market the whole of the NFTRH service, which is much more than a weekly market report. It includes a daily Trade Log and also updates as needed. Yesterday, I felt it was needed.
Below is the updated daily chart from that update, still not having confirmed its near-term fate, but sure looking like it is going to choose to fill at least one of the upside gaps before any substantial corrective activity. Subscribers got the info in real time and I for one then added to a couple of positions based on my view that the post-FOMC environment may be a relief valve of sorts.
In the update we identified the January low of 31.21 and the green dashed EMA 20 as a pivot below which to take caution and prepare for the correction before any upside gap filling. The thing is, GDX held like a charm and so then did our upside projections.
Just a brief tout of what I fully believe is the best all around service of its kind. It’s not just about gold stocks, which are really not yet anything special on this cycle. It’s about the whole enchilada, which we have been managing from the bull side in a Q4-Q1 rally projection since last November. Oh yes, there are new projections out ahead as well and a complex macro to manage. That’s my job and I’m going to do it to the best of my ability.
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Tactical information given to the ‘press’ only serves to devalue operational planning. I learned this in This Man’s Army more years ago than I care to think about. You could learn about its implications, too.
To me it’s not given to the press. It’s on rare occasion given to a relative few who read this website. And it’s just straight nominal TA, which anyone who stares at charts can do (as long as they don’t b/s themselves or others).
I sense you bristle a bit when I give away premium info, and I get that. But NFTRH has so much more than one daily chart interpretation of GDX that subscribers already had in advance. The real strategy remains in the service on a weekly basis. I think you can see that.