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The Newmont Diary


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The Newmont Diary

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  #121 (permalink)
Market Wizard
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Danger Will Robinson
DANGER WILL ROBINSON DANGER - LOST IN SPACE - YouTube

It looks like GLD and NEM are breaking down a bit. Both are right on top of the 25 day MA. Engulfing candle for NEM and GLD. The Stochs are continuing to roll over. A correction to trend would be healthy. 200 shares with 55 calls on the board.




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  #122 (permalink)
Market Wizard
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Some charts posted as I look at NEM from other angles. On the daily chart the bar is still neutral.



On the 30 min chart, NEM is still in a down trend.



Daily price action on the 15 min chart.


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  #123 (permalink)
Market Wizard
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2nd red bar on GLD. But still sitting on the 25MA.


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  #124 (permalink)
Market Wizard
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Both NEM and GLD are red barred but neutral. The big difference is GLD made near term lows while NEM did not. GLD really broke below the 25MA while NEM is like a hanging chad. Need to see what Monday brings about.



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  #125 (permalink)
Market Wizard
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Maggie is 7 today (Oct19)



It's been a week since I posted about NEM. NEM has been going sideways in a wide range. It looks trade-able but gaps make it difficult for price gain. I have made a couple of successful trades with NEM. Currently I have 200 NEM in this account with Oct 19 55 calls. And another account I have 300 NEM; with Oct 19 calls; 1 52.5 and 2 55. So with NEM on the 55 cusp with cash gold presently down this morning, it will be an interesting day.

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Market Wizard
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NEM (Gold) went DOWN with the rest of the market and then??? To the bottom of that weekly range and pesto. I have those 4 55 calls.

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Market Wizard
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Okay, I had 500 shares in two accounts. Well, the chart tells the story of NEM being unable to top 55 at close. So I rolled into next week's 55s. So, Monday I will open with 400 shares. I was paid well in premium for next week with all the volatility.

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  #128 (permalink)
Market Wizard
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Yes, officially I have 200 shares in this account for this diary. I made that calendar spread trade on Friday.



The other account had 300 shares, made the above trade and the other 100 was called.

The daily chart with the redundant indies: Chart reads Neutral.




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  #129 (permalink)
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NEM is Neutral. GLD is not, but now caught on the 50 MA.


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Market Wizard
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On the above NEM chart, L1 is (shelf) support. NEM may be on the verge of breaking it. While GLD broke the 50 MA, NEM is just still above the 50 MA. Both 25 MA have turned down.




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