Comments on: /NQ QQQ Active Trade Idea 4-11-24

By: becky

becky — Thu, 11 Apr 2024 21:11:40 +0000

In reply to Olie1971.

I have been tracking his GDX short since $32 in awe. The pattern with gold lately is this:

a. Rip overnight
b. Smash around open
c. Recover by the close or stay flat.
d. Repeat

Been very stubborn. That’s a change of character. The resistance on GDX is around $35 on my charts

By: greentea613

greentea613 — Thu, 11 Apr 2024 18:29:41 +0000

Please excuse my posting here also about the GDX short trade. At this point all I can hope for is a nice double top as both GDX and GLD are within pennies of their highs from only two days ago.

By: AP

AP — Thu, 11 Apr 2024 18:27:47 +0000

Cant get past this manipulation thought. How after a confirmation on inflation sends markets to ATH.

By: Olie1971

Olie1971 — Thu, 11 Apr 2024 18:12:27 +0000

In reply to greentea613. The problem is have to use options because to get any real money out of a 2, 5, or even 10% gain requires too much capital. I've learned the hard way that you can't trade options off Randy's analysis.

By: greentea613

greentea613 — Thu, 11 Apr 2024 18:12:06 +0000

Also I don’t see the Spy rally today off the bottom support around 512 that held as a buying climax. A rally for the day strong and steady without any pullbacks. Maybe the QQQ break out above the suggested active trader short at 41.50 area was buying climax but it sure looks like a strong steady and continuous move up now 3 points from the active short price suggestion. GLD also approaching its 18.86 high and GDX following. I’m still holding my GDX short. Giving it room based on Randy’s suggestion.

By: Olie1971

Olie1971 — Thu, 11 Apr 2024 18:05:54 +0000

Nah, I can’t follow this anymore. Take a short position, watch it go up, then make case for another short position, only to fail again. I’m done chasing your short thesis.

By: KevinK

KevinK — Thu, 11 Apr 2024 18:04:25 +0000

Dip buyers still alive.

By: greentea613

greentea613 — Thu, 11 Apr 2024 18:04:16 +0000

In reply to Olie1971.

same for me. I’m still holding my GDX but I’m in at 34.00 so it isn’t so bad…just holding up quite well and yes going in the wrong direction. Seems EUR/USD still at the bottom of it’s initial drop doesn’t seem to be holding GLD or GDX down at least for now.

By: AP

AP — Thu, 11 Apr 2024 18:03:19 +0000

In reply to rsotc. Seems like support now

By: Olie1971

Olie1971 — Thu, 11 Apr 2024 17:58:35 +0000

This caps off a terrible week between this, the $GDX trade going in the wrong direction, and $SOXX not working out. Shorting short term hasn’t worked.