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The Newmont Diary


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The Newmont Diary

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  #91 (permalink)
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What am I looking at with your avatar?

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  #92 (permalink)
Market Wizard
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Big Mike View Post
What am I looking at with your avatar?

Mike

The avatar is an animation of an energy vortex. Different energies can occupy the same space. So I am thinking that a short and a long (energies) can occupy the space of a trade.



And other than that, I got my wish and NEM closed above 47 and 400 shares should be called over the weekend. Giving me more trading capital for this account. The "47" position made a profit. Not sure if the "46" position did. Now if NEM heads down to 46 on Monday, it will give me the opportunity to trade up from there.

The short term trend is currently down.

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  #93 (permalink)
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GLD is still in a wedge pattern. Correct me if I am wrong, but this wedge is a continuation pattern to the downside. Especially if price pushes higher into resistance and both stochastics are oversold. But in our manipulated world, what if GLD pushes through the resistance and above the 200MA. Gerald Celente just said if spot gold can take out 1670 then it is to 1750. If it takes out that then 2000. Well I will stick with the chart. And the weekly bars are starting to look bullish. But volume is lame.



GDX and NEM have virtually the same chart. GBX a bit more bullish, leading. Both have the look that caters to higher prices into resistance. The weekly stochastic is setting up to move through the stochastics sweet spot from 32 to 68. Just wish the daily was on bottom instead of the top. But OS can beget OS while the weekly does it job.




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  #94 (permalink)
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Saturday my computer crashed sometime after the last post. No worry, I have three computers. But this was my old XPS 400 Dell and it was running like a charm. A few years ago, I had maxed out the ram and added another harddrive which I used as the main C drive. C drive no more. So I spent time Sunday cleaning all the dust out of the fans (3) and motherboard and switched drives. Of course the old harddrive needed some 150 XP updates. But it is up and running.

So Monday, with an updating computer and all, plus now the crashed drive as F. The computer runs like crap. I need to physically disconnect and toggle off the F drive in the bios, to get this computer within a hope of running correctly.

Anyhow, I have NT7 running, IB up and running. But NT won't run the NEM charts, nothing happens. The SPY and SSO charts work, but no NEM. So I move NEM to NT on the laptop. Okay, now the NEM updates and plots.

But wait. IB is on the old computer. NEM is rallying. So, I put a 47 BuyWrite order on. Yes it executed, oh good, I just bought down NEM for premium.

(End of the Day) Yes.......... lets look at the trade log. Wait no trade, where is the trade? There is no trade. Wow, everything is still in chaos.




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After Monday's confusion and not getting that trade. And the gap open on NEM, I decided to jump into more NEM.



I went to a higher call strike because of the lost ground from the lost trade. So, I just did the trade and quickly.





of course: should da, could da, would da.

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Just another day at the office.



With the whole market sinking: at 2:00 PM some market whore must of injected some news hype into the market. It was up, up and away.




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Thin range day. Gap up open and just faded. NEM was moving up with the Euro and Gold. While the general market was pulling back. Tomorrow the 46 and 50 calls expire; anything can happen. 46s look gone for sure.




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Preparing for Issac here on Friday; I started on Thursday actually. Food, water and fuel.

Started Friday with 600 shares; Today the 50 and 46 calls are exposed to being called. NEM is below 49 and I have the 50 calls with little value. Gameplan: roll down the 50s to 49 in a vertical spread, collect premium and replace the 200 shares with (1) next weeks 50 calls if above 49 or if below 49 (2) do a diagonal spread into next week for the 50s.







option 1 happened

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Forgot to save Monday's chart, so here is a combo for Monday and Tuesday. I ended Friday with 800 shares and start the week with 400 shares. The 46s and 49s were called.



Not much to say, NEMs been in a down trend for two days.


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NEM made fresh lows and then popped up with the market, but only to fade away. Schaff is on bottom, so I am on the sidelines.


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