Tuesday, September 24, 2013

Entering Partial GDX November $25 Calls

I'm not where I want to be so this will be a partial position, "if" we see GDX back to the area described earlier as the probable area of a new position, then Ill add to the GDX call position.

Here's what has changed my mind to make an early entry.

 15 min GDX bear flag looks like it wants to break out, there's a little resistance seen at the longer upper candlestick wicks (orange), but volume is up.

This 10 min chart's fast move up grabbed my attention so I checked NUGT.

And NUGT (3x long GDX) has the same, I checked DUST which ius 3x short GDX and...

It confirms, so this isn't the ideal set up for an option position, I think NUGT long which I also have is better suited, but I'll go for a partial position now.

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