1258
nugt just EXACTLY hit the 568 MM level and pulled back....happens when they are sitting on the ask price like that...why if scalping then limit orders work well, to fast to catch manually
of course for swings, doesnt matter
1242
MM sell level 1 at 568 NUGT ... MM not Inv Bank, 560 last
then 580
1034
MM sell level and trgt on GDX intraday 24.62, last 24.22
that puts nugt at 591 and 580 trgts approx.
951
Trigger:
/DX < 83
UUP < 22.50
if /DX us dollar futures close under 83 (or under 22.50 UUP), a major sell signal swing may set up on US dollar, which could cause GDX NUGT to skyrocket to target 1
for the quick trade on NUGT, no plans to exit until at least the 15min chart gets tired, or a surge higher, whichever comes first...at least 2 hours on 15min chart if no surge....multiweek GDX NUGT part of trade obviously using the daily n weekly charts not 15m
942
BUT Inv Banks do not have tight buy levels on GDX or NUGT, so could drop first. small Market Makers and active MM want 23.85 GDX to buy, and may even let it drop under that
941
GDX Inv Bank levels to sell GDX have been raised, they now sit at 24.30, 25.00, 28.00, with the largest banks waiting for 28.00 (16% higher from current 24 level, 40%ish higher on NUGT). not sure its going to 28 vdx but thats the major level atm. interesting that they have chosen a level HIGHER than the gap fill around 26.30. might take awhile to get 28 but thats main target 1 atm, with higher targets on the multiweek holds later
939
fwiw, it's very possible that the 4pm sys is going to give a go long signal (but spx needs lower, or more time, to give one), and then give a short opp later....3-10 day timeframe to hold,
935
nugt up about 5%...still holding quick trade from yest....and holding the multiweek nugt seperate trade also...may exit the quick trade today, no plans to exit multiweek trade until much higher targets
yesterday we posted that the 4pm system "almost" gave a short signal but didnt trigger ....spx down today... might miss this short opportunity, happens, there will be other opps long or short
Trades can be viewed at the links below.
http://www.marketwatch.com/game/christopherstockguy-100k-port/portfolio/Holdings
For details on the portfolio see this posting:
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
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