Tuesday, March 29, 2011

This One may go BOOM

It hit my Elder buy filter, and is sporting a tight BB.  I am going to do a Vertical or a butterfly (25/30) or (25/30/35)

Saturday, March 19, 2011

Gold Resources is setting up nicely.  Also take a look at the charts of AXU and RVMID, nice IHS's tracing out.

Tuesday, March 15, 2011

GLD a IHS tracing out?

As I was scrolling through my charts, I noticed that GLD is coming down to test the 100% line from the July bottom to the October high.  Looking at the cycles since then, it appears that a IHS is tracing out, with the neckline at approx. 138 and the shoulder at the fib line to a buck lower.  Abounce from here or even as low as 133 can be pretty exciting.  A resolution can be in the 155 area.

Needless to say I am still very long my miners, although I wrote calls on silver due to OEX week (good timing huh!).  For my options, I plan on rolling to May next week but am expecting the metals to catch a strong bid within the week.  In eight business days all open March silver contracts get delivery of the metal, and I believe there is not enough to go around.

I am also staying with my plan of long silver, silver miners, and FSLR, and short SPY.  It served me well this morning.  I added, CCJ, PCX, and FCX calls for April, this morning.  Japanese reconstruction is going to be commodity friendly.

Tuesday, March 8, 2011

Two Juniors Ready for a Growth Spurt

First off, sorry for not positng, my solar business picked up and distracted me from other activities.  Now take a look at these silver juniors, my comments are on the charts.

Tuesday, March 1, 2011

RBY and MCP hit my buy screen

An approach I have been taking with some fantastic results is to buy calls on miners that hit my version of the Elders impulse pattern buy trigger.  Yesterday GOLD hit it, today RBY, AEM, and MCP hit it.

I buy one strike up and one month out, set a stop and let it rip.  Move to break even as practical and then manage to your profit and risk tolerance. April 5 (ITM, low price stock), April 75 (I am already in it for March, and will roll to April), and April 50.

My view is the gold miners need to play catch up.  Enjoy.