You're about to see a Major Up move in GDX, GLD, NUGT, JNUG, all the gold stocks. BOJ cannot hold USDJPY up any longer.
No one wanted gold down around 1150...and people still don't want it. this means higher prices are likely Long Gold from the 109 area. http://eepurl.com/cve9s5
April is gold’s fourth worst performing month Based upon continuously-linked, non-adjusted, front-month futures prices since 1975, April is the fourth worst performing month for gold and fifth worst for silver. In 42 years, gold and silver have advanced 18 times and declined 24 times in April. Gold has posted an average loss of 0.4% while silver actually recorded an average gain of 0.5%. Silver’s better average performance can be attributed to mighty gains of 15.2% in 2016, 28.3% in 2011, 18.3% in 2006 and 29.9% in April 1987. Gold and silver’s record over the recent 21 years (1996-2016) is better, but performance in April is still tepid. Gold up 12, down 9 average gain 0.4% in last 21 years while silver was up 8, down 13 with an average gain of 0.3%. Typical April performance can be seen in the following chart. Note weakness ahead of the eleventh trading (approximately tax deadline).
I have a small bag of JNUG, not sure if I have to cut the losses right now or maybe bounce is still possible http://www.silverdoctors.com/gold/gold-miners/is-the-junior-mining-sector-about-to-implode/
I got my GLD JUL 21 2017 119.00 P @ 1.14 & .99 yesterday. Targeting the XAUUSD around 1200 next month.
PUTs are back in the green! I even bought some DGLD this morning after the drop @ 46.61 in my IB account
Thanks @bigbear0083. I still see room to move down - there is a trendline coming up that will be very important
too soon again. I need to start phasing into these in a couple lots. Right idea, wrong execution - still holding the puts.
lost my shorts on this one. I stopped out at 50% loss - right back to where I started About to take a long position... waiting to see.
GLD getting smoked today after the NFP! Now that I look back on it GLD looks to have been in a H&S pattern on the daily. I think we see GLD dropping big time next 1-2 weeks. Possibly down to ~1200-1900
