I have to say, I am surprised seeing the USD crash today. It did have a weak bearish wedge pattern but I didn't anticipate this. We are seeing a move up in commodities but not as big as I would have thought.
I hopped into a Jan GDX call spread 15/16 a couple days ago and will hold through turbulence. Hopefully things gain traction unlike when the previous buy signal failed a couple weeks ago.
Potential double bottom with pretty good positive divergence here.
We may be setting up for a bear trap here but there's still risk of gold slipping down to $1000
Buy signal on weekly
HYG showing pretty bad negative divergence although this isn't the best of indicators.
SPY looking likely to get close to support
Thursday, December 3, 2015
I'm going to let the market do its thing this week and probably stay away from new positions until Friday unless something very good pop...
I have been stopped out twice in last few weeks trying to short GLD. I have a pretty sizeable position of Nov/ Dec GLD/ GDX puts. Also ha...
Jumped back in on the open as it looks like we have a short term trend change. Annoyed it decided to leave without me but worth the chase a...