Look regardless even it in break down lower that is just an even better buying opportunity. But we are oversold with bullish divergences on short term charts. Because Silver/Gold/miners are making such big moves to the upside, they draw in a lot of momentum money which makes them more volatile in both directions. Look at dxy I remember when it was at 92ish I was calling for counter trend rally to 94-95ish. I’m seeing bearish divergences on dxy and starting to get overbought. So I think dxy is near a top and metals are near a bottom.
As you know I had 3 trades open and was down all 3 FB , AAPL , MSFT to the long side, despite this correction I was still able to pull tiny gains out of MSFT and I’m now up on AAPL , plan on closing AAPL gains out today in case Silver continues to go down. FB I’m down 2-3% but plan on turning that into a gain. I have really been buying metals especially mining stocks unlike anything. I normally don’t use margin but I have started to buy some of these stocks on margin because this is almost as good of a buying opportunity as March (you need to manage risk on margin never go above (1.3). I will be more than compensated for the interest at these prices.
As you know I had 3 trades open and was down all 3 FB , AAPL , MSFT to the long side, despite this correction I was still able to pull tiny gains out of MSFT and I’m now up on AAPL , plan on closing AAPL gains out today in case Silver continues to go down. FB I’m down 2-3% but plan on turning that into a gain. I have really been buying metals especially mining stocks unlike anything. I normally don’t use margin but I have started to buy some of these stocks on margin because this is almost as good of a buying opportunity as March (you need to manage risk on margin never go above (1.3). I will be more than compensated for the interest at these prices.
