Biggest position now in DAL which I added more to today. Earnings torpedoed the DDD position and exited URA yesterday after seeing it not breakout and GLD short today (still waiting on this, the yen just won't stop barreling up and it needs to slow down for the GLD trade to work).
Still have small GBT, NTES
I got excited yesterday when GLD poked through the trendline which has been a pretty good indicator of trend change the past several months. Today it did probably the worst possible thing...nothing. An ideal top would be a big gap up then a fade or some sort of volatility.
Right now the possible is happening which is making this a risky short. It looked much better yesterday.
A potential pain trade scenario would be for miners to break out a few days, engaged a lot of longs + cause a stop run on shorts and THEN reverse hard back down. That would crush a lot of participants.
Longer time frame you can see it speed of the decline isn't there. Could drop like a rock but odds increased today that this continues to go up.
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...
I am liking the set up for XLE a lot now and XBI I am hoping for some settling so I can board the train. Maybe within 1-2 weeks? Missed ...
Didn't make any changes Fri except close the GLD short as the miners + silver started showing strength and an oversold signal on the 2 h...