Possibly a bull flag
Look regardless even it in break down lower that is just an even better buying opportunity. But we are oversold with bullish divergences on short term charts. Because Silver/Gold/miners are making such big moves to the upside, they draw in a lot of momentum money which makes them more volatile in both directions. Look at dxy I remember when it was at 92ish I was calling for counter trend rally to 94-95ish. I’m seeing bearish divergences on dxy and starting to get overbought. So I think dxy is near a top and metals are near a bottom.
As you know I had 3 trades open and was down all 3 FB , AAPL , MSFT to the long side, despite this correction I was still able to pull tiny gains out of MSFT and I’m now up on AAPL , plan on closing AAPL gains out today in case Silver continues to go down. FB I’m down 2-3% but plan on turning that into a gain. I have really been buying metals especially mining stocks unlike anything. I normally don’t use margin but I have started to buy some of these stocks on margin because this is almost as good of a buying opportunity as March (you need to manage risk on margin never go above (1.3). I will be more than compensated for the interest at these prices.
As you know I had 3 trades open and was down all 3 FB , AAPL , MSFT to the long side, despite this correction I was still able to pull tiny gains out of MSFT and I’m now up on AAPL , plan on closing AAPL gains out today in case Silver continues to go down. FB I’m down 2-3% but plan on turning that into a gain. I have really been buying metals especially mining stocks unlike anything. I normally don’t use margin but I have started to buy some of these stocks on margin because this is almost as good of a buying opportunity as March (you need to manage risk on margin never go above (1.3). I will be more than compensated for the interest at these prices.
