Back on October 2nd we took a look at an ugly Head & Shoulders pattern and a pretty one. The ugly one was the one on gold miner bear fund DUST. It took a while but today it confirmed its bearish pattern, big time. Couldn’t happen to a nicer bunch of Men Who Stare at Charts; the precious metals bears, a couple of whom I … Continue reading The Ugly H&S and the Pretty One, Revisited
This man who stares at charts presents for you a really ugly short-term H&S to stare at. It’s not activated, but it is ugly. Stare at it! This man who stares at charts also used his imagination last week and presented in a real-time update (still p/w protected) for NFTRH subscribers the parameters and potential for a pretty short-term H&S as the miners were hitting … Continue reading Gold Stocks: Want to See an Ugly H&S? A Pretty One?
I guess it came down to a ‘who am I to argue with success?’ kind of question. There was yet another profitable round trip shorting the miners staring me in the face and so I took the DUST profit. All of it. But I still think the next few weeks may be rocky so risk is going to be managed in the way of what … Continue reading Decision Made; Dust Taken off Miners, but…
I realize that at some point this could blow up in my face, but I am fully hedging* gold miner exposure again as I am in the midst of the best streak I’ve ever had in hedging the miners for profit and protection all at once. I have of course had some not so satisfying exercises in the past as well. But always when hedging, … Continue reading Miners Dusted… Again, on “War Talk”
I sold the direct hedge positions on the miners (DUST) as HUI has dropped to within 2 points of the beginning of the key support zone. Indirect hedges of sorts are long USD and even long stocks, insofar as the cyclical stuff has been going up while the counter-cyclical miners have been going down. It’s not really hedging I guess; it’s really more like balancing. … Continue reading Dusting Up the Gold Miner Hedge
As noted to subscribers I initiated miner bear DUST a few weeks ago and even added to it after it got crushed on the FOMC rollover (talk about a day to have patience… ). That is because it is guarding the miners I hold; the ones I have chosen not to get rid of despite a short-term bearish technical view on the sector (pending the … Continue reading Dusting Up on the Miners
DUST had a look of bearishness to it, which would have gone hand in hand with a bounce in the gold stocks that I have been more expecting than not. But this chart no longer has a bearish pattern. It has a sloppy pattern (that could be interpreted as an Ascending Triangle). The gold stock bounce scenario is in some trouble. Risk managers should not … Continue reading DUST 60 Min.
Checking back in with old friend DUST hourly. Still no resolution as it levitates within a pattern that still does not look pleasing. If it proves unpleasant for DUST, it would be a short-term pleasing sight for the slap happy gold mining sector. Continue reading DUST Up
Still ugly, still non-activated and still theoretically targeting around 22. I tried to short it the other day and there were exactly 2 (T.W.O.) shares available to short! Then yesterday there were a few 10’s of thousands again, but it had already dropped and I decided to just relax. Subscribe to NFTRH Premium for your 25-35 page weekly report, interim updates and NFTRH+ chart and … Continue reading Dust Hourly Updated
The hourly chart of 3x Gold Miner bear DUST looks bearish to me. If the pattern becomes activated it would target the little gap and lower, down to 22. It’ll be interesting to see if it can tick down below 31. Subscribe to NFTRH Premium for your 25-35 page weekly report, interim updates and NFTRH+ chart and trade ideas or the free eLetter for an … Continue reading DUST Hourly
Yesterday we noted that GDX got zonked on the close and today in what looked like a running of the shorts DUST took an accelerated hit in the last 30 minutes. Turnabout being fair play and all that… Continue reading Dusting Up the Close
