Comments on: Market Recap 5-24-16

By: tomnichols

tomnichols — Wed, 25 May 2016 22:45:45 +0000

great work…thank you

By: rsotc

rsotc — Wed, 25 May 2016 18:00:13 +0000

In reply to pangblood. For the official GDX / NUGT short trade, the official final target is T3 at GDX 21.52 ( http://rightsideofthechart.com/price-targets-for-nugt-gdx-trade-idea/ ). T1 & T2 were already hit (which I'll post an update soon). The 21.20 GDX level & 155.70-116.00 GLD levels are the actual support levels which I believe that either both or the first of either GDX or GLD have a very good chance of reaching before this pullback has run its course.

By: pangblood

pangblood — Wed, 25 May 2016 16:38:03 +0000

@rsotc Randy GLD almost hit your preferred target, what should we do with our GDX short? Are you still waiting for 21.46 on GDX? I reduced my exposure to about 2/3 waiting for a pullback to re-enter.

By: dan123

dan123 — Wed, 25 May 2016 14:23:40 +0000

Great recap, thanks

By: rsotc

rsotc — Wed, 25 May 2016 14:01:19 +0000

In reply to freezer. freezer, Overall, the charts on the shipping stocks appear to be firming up once again & they could be poised to rally if the broad markets can follow-through on yesterday's breakouts. I'll have to study the charts further to see if I can find any promising setups with attractive R/R profiles.

By: rsotc

rsotc — Wed, 25 May 2016 13:14:32 +0000

In reply to freezer. @freezer I just updated the XOP GUSH short in a new front page post. I'll take a look at the shippers & give you my thoughts asap.

By: Eric K

Eric K — Wed, 25 May 2016 11:07:05 +0000

Thanks again for the analysis Randy! Very helpful.

By: pangblood

pangblood — Wed, 25 May 2016 04:17:36 +0000

Thanks for the update Randy! Keep it up!

By: jacant

jacant — Wed, 25 May 2016 03:32:06 +0000

Thanks for Recap!

By: freezer

freezer — Wed, 25 May 2016 02:37:00 +0000

Thanks Randy,

You covered use but any thoughts on the Xop short or shipping stocks?