Trade Update

Update: Will sell DUST today. Bought at 33.7. Will try to sell around 35.2. Strong, potential, positive MACD divergence on GDX and some miners - AUY, GG, SIL.

I'm currently looking for a tradable ST top to go swing short equities.

Gold, equities, the dollar

The dollar has bottomed.

GDX and Gold are f#$ed.

Equities are going to melt up.  BKX breaking out. SCTY breaking out, TQQQ bottomed.

Bonds breaking down.

I will trade accordingly.  Looking to buy DUST again.

Update: Will sell DUST today. Bought at 33.7. Will try to sell around 35.2. Strong, potential, positive MACD divergence on GDX and some miners - AUY, GG, SIL.

Trade Update

1. Bought TQQQ on Friday at 49.6.

2. Sold SOXS on Friday for a small profit. Did not like price action.

3. Bought more NUGT on Friday. Will sell today at 11.70.

4. Will try to buy AGQ around 44.5, NUGT at 11.30, TSL at 3.60, and more TQQQ around 52.1.

WTF is up?

Bearish
1. QQQ weekly has been hugging the underside of the middle Bollinger. MACD has a huge negative divergence and about to go below zero. 

2. Bullish Percent for NYA shows huge negative divergence on weekly, monthly charts.

3. VIX is staying above the upper Bollinger.

4. SOX daily bust through the middle Bollinger and is headed for at least the lower BB.

5. Rising wedge pattern on SPX.

Bullish

1. AAPL is fundamentally cheap. Value investors should be buying right now.

2. NIKKEI is breaking out of a LT chart. May need a bit of a correction, though.

3. $RUT daily is at the middle Bollinger and at support. Dow and SPX daily very close to lower BB. QQQ just below daily BB. At least a small bounce looks probable.

4. Something should happen over the weekend to help with the fiscal cliff.

5. TLT hitting 50 DMA from the underside. Should mean at least a temporary set back.

6. $HGX - housing -- breaking out with inverse H&S. Looks very bullish.

7. AAPL daily could be at double bottom with big MACD divergence.

Conclusions:

I am bearish medium term and will trade accordingly. I will accumulate AAPL on the dips. Seems fundamentally wrong to have AAPL in the low to mid 400s, but it could happen.

Trades:
-- As planned, I sold DUST and went long NUGT today at $10.10.
-- Also, I bought SOXS.

DUST, NUGT, STP, SCTY, TZA

1. Will try to sell STP around 1.52 - 1.55

2. GDX wants to rise. Will try to sell DUST around 34.5.  Sold part position at 37.5.
Will look to go long NUGT around 10, part position.

3. Looking to go long AGQ around SILVER at 29.

4. Will try to sell SCTY (bought at 10.6) at 11.6 or so.

5. Long TZA at 14.05.  May add at 13.9 or so. Will probably sell around 15.

6. Will go long AAPL or TQQQ in the next few days. Waiting for signal.

All trades are swing trades, unless stopped out.

Have Been Long DUST from 32, STP from 1.0

Sorry about the lack of updates.

Will sell DUST around 40.

Also long SCTY, STP.

Will try to go long TQQQ at around 50.5.

There is more upside in equities after pull back.

Sold FAZ, SPXU, Bought more NUGT

Made some change on the SPXU and FAZ, but really hurting on that NUGT.

Lesson learned.  When stocks really fall, GDX will fall too. Maybe it will fall worse.

Bought TQQQ at 44.9.  Will go more long at lower prices.

Update: NUGT average price is now 12.60.

I am waiting for a bounce to exit NUGT.  I will look to short GDX, probably at the 200 day.  Weekly middle BB is also resistance right around the 200DMA  Right now, there should be a nice bounce up to the 200 DMA.

Long FAZ, SPXU, NUGT

Will try to go long AGQ on Monday or Tuesday.

FAZ at 18.05

SPXU at 42.35

NUGT (from earlier) 14.8




Edit: lowered NUGT cost to 14.6.  Will probably lower FAZ and SPXU cost today.

Will short Financials on Bounce. Holding NUGT.

Average price on NUGT is 14.8 now.  This is my largest position.  Looking for 25 or so as final target.

Also long AGQ.

I am long TQQQ at 50.8 and 48.4.  Plan to sell around 51.5 - 52 range.

Looking to short financials via FAZ.

SPX going to 1300, after small bounce.


UPDATE: CHANGE OF MIND: Will get out of TQQQ tomorrow. QQQ going to 61.5 before bounce.

Sold SPXU at 39.98

SOX and RUT acting well.  RSP:SPY indicating strength in the indices. Might go long NDX tomorrow, via TQQQ.