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The Newmont Diary
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Created: by Tiberius Attachments:212

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The Newmont Diary

  #111 (permalink)
Elite Member
North Port, Florida
 
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55.48 on the BIG DAY

unlimited QE is IN. So NEM jumped like the rest of the market. Gold has a new shine, so with NEM.

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The first trade was a diagonal spread. I took this week's 52.5 calls with little premium and rolled them up to 55 for $40 per call. With success, that's a net of $210 per. The next trade was a 55 BuyWrite for premium. I want more premium.

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Okay, 1000 shares of NEM and little cash in this account and 1 day to go.

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  #112 (permalink)
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57.20.....TGIF/QE unlimited ............ On Vacation

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I have a 1000 shares and little cash in this account. And I have the 60 puts. NEM jumped again and I thought I had a problem. But with all the volatility, the premium was thick on the puts. With NEM at 57.40+, I was able to close out the (2) 60 puts for 4.85 each; just a 15 cent penalty down to the 55 point. And I have 4 calls at 55.

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I need to close out the puts because I have no more fire power$$ today. And I know not where price will go next. The idea with the RadioActive Strategy, the better move was to sell the 60 puts for the big premium and move higher at a much smaller premium. But, with the QE and I that I read charts, I will go bareback without the puts for now. Trade what I see.

Okay, I sat through a boring August and now that the action has returned, I am on vacation for 7 trading days. But, with all my accounts, I will have to make wider swing trades to get through next week. I will have 200 shares of NEM called over the weekend and I will have to read a longer term chart and make a trade. I will check into the market on Monday.


Last edited by Tiberius; September 14th, 2012 at 05:32 PM.
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  #113 (permalink)
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on Vacation update


while on vacation, NEM has been basically flat.

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somewhere this week while getting some computer time I bought another 200 NEM while writing today's 55 calls for a small premium. I thought the gap between 55 and 57 with a small premium was worth a gamble.


so I have 1000 shares with 800 being called tonight if NEM stays above 55. I have the 49s, 50s, 52.5s and 55s. I have had the 49s and 50s for a while.

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  #114 (permalink)
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End of the Recap

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NEM was selling off a bit today. But still range bound. Oh well back to vacation.

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  #115 (permalink)
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new week

over the weekend 800 shares were called. 200 now on the books.

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and this Monday, NEM gaped lower on the open and ranged all day.

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  #116 (permalink)
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Tuesday the 25th ......... vacation ends

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This is the day my vacation ends and while flying home the market in general melts down starting at noon EDT.

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  #117 (permalink)
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two day chart the 26th & 27th

a two day chart as I missed grabbing an image for Wednesday.

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I am working on another money making transaction with this account balance, so I am staying pat with 200 NEM.

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  #118 (permalink)
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End the week to start another

NEM and GLD daily/weekly charts for review:

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  #119 (permalink)
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New Week

To start the new week, weekly/daily charts:

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These charts are self explanatory. Gold stocks are corretting while gold is diverging. Gold is at a tipping point for a correction. But will it? These charts are oversold on a weekly basis, but haven't broke down.

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On Thursday, I did a 55 BuyWrite to grab a few bucks. Shares up to 400, 200 called over the weekend, now 200.

I will look for opportunities with NEM.

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  #120 (permalink)
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More Looks


Using MacBars on the weekly/daily. The daily chart is neutral.

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And today on the 30 min chart, NEM is negative.

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