Comments on: Covering Equity, $VIX, & Precious Metals Shorts, Reversing To Long 4-3-25

By: Heinz

Heinz — Thu, 03 Apr 2025 15:41:19 +0000

In reply to rsotc. Thanks Randy, I am short the GDX thru Dust, I wondering why Gld is down, the market is getting hammered and GDX is up. I was expecting GDX to get compressed from the market selloff, but, even with GLD down, it is not happening. Not sure if I read your post correctly, even with a rising wedge, you think good time to close out longs and shorts?

By: Hagleboz

Hagleboz — Thu, 03 Apr 2025 15:08:32 +0000

In reply to Mikeflegel. Sorry, I completely disagree. Randy said exactly what he was doing and I would have been really pissed waiting for 30 minutes into the trading day for an update when he promised to get something out premarket. You should already have a trading plan in place for anything you were considering closing positions on.

By: Mikeflegel

Mikeflegel — Thu, 03 Apr 2025 14:46:19 +0000

Just make sure you establish that like for instance this morning this is a day trade. For most of us I’m guessing we’re swing and long-term traders and right now the direction is down. So if you could say if you’re one of these direction is still down

By: Mikeflegel

Mikeflegel — Thu, 03 Apr 2025 14:40:31 +0000

For me selling my shorts and going lungs cost me $700 lost. I’m in favor of giving us his many updates as possible Randy. On a morning like this however it would have been better to wait until the 10:00 rule. The 10:00 rule says no trading until you see the direction established. My experience has been that the elbow occurs at approximately 10:10. Please help us as much as you can Randy thanks thank

By: rsotc

rsotc — Thu, 03 Apr 2025 14:40:00 +0000

In reply to rsotc. Here's the 60m chart of GDX showing that backtest of the wedge from below.

By: rsotc

rsotc — Thu, 03 Apr 2025 14:38:53 +0000

In reply to Heinz. I posted an update in the comment section below the post (with video) I made after this one. I only went back to short on the equity-related trades (index futures, individual stocks, Bitcoin, VIX, etc..) but not silver (my preferred trading proxy for the metals). Silver fell to that really nice support level I posted in the first post today and gold also feel to support. Gold is catching a flight-to-safety bid rally so silver & the miners are rallying, as they often do, in sympathy. However, right now (10:37am ET), GDX is backtesting the uptrend line/bottom of rising wedge on the 60m chart so a good time to close any long or short it IMO as the miners often get sold down even if gold is rallying or holding up during periods of strong selloffs in the stock market (since the are equities and not metals).

By: Heinz

Heinz — Thu, 03 Apr 2025 14:34:14 +0000

Does anyone have an explanation for GDX being positive in the last hour? I was going to close out my Dust. It hit 39.40, then the last hour floor dropped, now 35.40.
Randy, are you closing out your Gold-related positions as you did with SI?

By: Blueberry

Blueberry — Thu, 03 Apr 2025 14:24:43 +0000

In reply to rsotc. Your efforts are always appreciated Randy. I'm sticking to my core swing and trend positions. I did gain from the precious metals reversal thanks to your quick post though. Hold on tight in this wacky rollercoaster wild ride everyone!

By: B-Right

B-Right — Thu, 03 Apr 2025 13:47:39 +0000

In reply to rsotc. Very understandable Randy. The speed at which the market is changing right now, it is very difficult to post timely. BUT, if you can, please do so and I am sure that will be appreciated by one and all here. GL to all

By: rsotc

rsotc — Thu, 03 Apr 2025 13:43:52 +0000

I closed out those longs & reversed back to short. I honest to God hate to say this but there is not way that I can effectively get updates out in a timely fashion in a super-fast moving market like like. Will do a video or post some more charts asap. I may very well reverse back to long again but just reading the charts in real-time & acting accordingly in full-blown active trader mode.