Sold JDST (Inverse Junior Gold Miners) @ $34.00 for a 11.48% or $1,015 Profit. Didn’t want to push for my $35.00 limit order as this was a strong enough move and good profits for such a short period of time.
JNUG (Junior Gold Miners) responded to the Keltner Top immediately this morning. Still plenty of time in the trading day to go lower, but I took a peek at my trade and couldn’t resist taking the money off the table.
Final chart and order for JDST (Inverse Junior Gold Miners)
The trends are strong and running long in these markets. I’ve been skeptical of the new highs, but my skepticism isn’t turning the market. I’ve been able to make some good trades on the extreme reversals, but there are longer term plays for both the longs and the shorts. Find out which are which in this week’s ETFs to Watch!
New highs in the US markets last week, but what about this one? In this week’s video, I cover some of the stronger bearish moves taking over the market. Sector rotation gets most of the credit for new highs in the S&P 500, but there is little to justify it continuing.
My take on next week is more bearish moves with an increase in volatility.
I’d love to see the speculators push Oil higher, but it’s still a speculators game.