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The Newmont Diary

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  #101 (permalink)
 Tiberius 
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The S&P and gold were down yesterday. Gold was ranging, on the plus side sometimes while the S&P was down and out. NEM took in all in stride.



Friday is the BIG day and pre-market the the S&P and gold are UP. In a holding pattern?

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  #102 (permalink)
 Tiberius 
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Fed Hints at Third Round of Quantitative Easing Alex Jones' Infowars: There's a war on for your mind!

Okay the Fed has spoken. The S&P virtually did nothing today; is that good or bad? Gold was up and I mean up. Maybe that means something.



NEM got going today to the upside on the get go. I had the 50 calls to expire today. It look like a long shot at the open, but then it wasn't. Yes the 50s would be called, no they won't and yes they will. It looked like profit taking would set into NEM around 3:00 PM, but didn't happen. With the long weekend and NEM surging past 50.50, I was in the profit hole. So, I decided to BuyWrite the Sept 21st 50s for over $75 premium on each set, to buy back down to 50 and open a free price window above; for I know not what Monday will bring.



This is Saturn, but Full (Blue) Moon tonight


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  #103 (permalink)
 Tiberius 
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I was thinking about the news article posted in the prior post. The "title" ....... "Fed hints". That's all there is to it. The "Hint" or someone saying hint. So the game goes on for the investing rubes. Because that's what is happening: market participates are being played like a violin. Not a problem; let's play.

GLD and NEM had very good volume today. That's positive for "UP". I am looking forward to next Tuesday to see if we get follow through.




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  #104 (permalink)
 Tiberius 
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No follow through for NEM, in fact, profit taking right from the open. Gold was up slightly. Silver up much more. Mining stocks were a mixed bag.

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  #105 (permalink)
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There Are No Nations Mr. Beale! It's All Business! - YouTube

No much today. Check out the charts.


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  #106 (permalink)
 Tiberius 
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On Thursday, a lot of trade-able action on NEM.



50 is the magic number. So I caught the trade on the 1 min chart. Then I wrote the 49 calls for extra premium.



The second trade was smaller in duration and this time I wrote the 52.5 calls to open the upside.




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  #107 (permalink)
 Tiberius 
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NEM went ExDiv. I have 800 shares on the books.



I wrote those 52.50s yesterday, so I just sat on the sidelines with price under 52.50 and no up move. I will have 200 shares called this weekend.

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  #108 (permalink)
 Tiberius 
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This is the week we have all been waiting for: the week of Universal QE.............. announcements.



So it slow going, into the start of the week. Price still under the magic 52.50

200 shares were called................. 600 shares to start the week.

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  #109 (permalink)
 Tiberius 
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Small trade, I was outside the house for the moment when I shouldn't have, but got into the trade late. And exited on time.


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  #110 (permalink)
 Tiberius 
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Check out the trades: I got into this trade on time. But if I want to max the profit, I need to get out sooner sometimes than later; so I exited on the violation of the ZLEMA. Only for NEM to run even higher. I decided to just do it and I bought back NEM and wrote the 52.5 calls for heavy premiums. And when profit taking hits NEM, it can be wicked.


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  #111 (permalink)
 Tiberius 
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unlimited QE is IN. So NEM jumped like the rest of the market. Gold has a new shine, so with NEM.



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.



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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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.



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.

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  #113 (permalink)
 Tiberius 
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while on vacation, NEM has been basically flat.



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

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



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

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



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)
 Tiberius 
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NEM and GLD daily/weekly charts for review:




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  #119 (permalink)
 Tiberius 
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To start the new week, weekly/daily charts:





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.



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



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


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 Tiberius 
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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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 Tiberius 
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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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2nd red bar on GLD. But still sitting on the 25MA.


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 Tiberius 
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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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 Tiberius 
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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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 Tiberius 
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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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 Tiberius 
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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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 Tiberius 
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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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 Tiberius 
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NEM is Neutral. GLD is not, but now caught on the 50 MA.


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 Tiberius 
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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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 Tiberius 
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Fibs are okay, I have too much on my plate to consider them. But! Here is GLD. Decide for yourself.



On the 38.2% and the 50% is currently the 200 MA.

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 Tiberius 
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Nasty looking chart. Only the weekly bars are positive. Lets see if "they" break NEM or capitulate.



Still have 400 shares w/ Friday's 55 calls ...... two accounts.

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Tiberius View Post
Nasty looking chart. Only the weekly bars are positive. Lets see if "they" break NEM or capitulate.

Hope you don't mind, but the gold outlook for the next 6 months points to the upside. Perhaps time for an option play.

Cheers!

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Hope you don't mind, but the gold outlook for the next 6 months points to the upside. Perhaps time for an option play.

Cheers!

@aligator :thanks for posting on this thread. please post anytime. as you ran the fibs into a longer time frame; NEM has high potential, such is my choice for this investment.

Friday: I just rolled over my 55 calls into the next Friday. 2 55s for this diary and 2 55s for the other account.



NYSE has been closed for two days. Oh well, I am catching up on household tasks. I live in FL on the gulf, been through many hurricanes and tropical storms.


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@aligator :thanks for posting on this thread. please post anytime. as you ran the fibs into a longer time frame; NEM has high potential, such is my choice for this investment.

Thanks @Tiberius,

Here are a couple of daily and weekly VV charts. Note the S/R on the weekly chart. Long term (previous post) I think we are at the beginning of a wave 3 so it is a good place to be in for some leaps into the next 1-2 years. Looking at the S/R lines on the weekly chart, there is solid support at 52.53, so expect sideways until end of this month. A break of the 52.53 support will face the major 50 area floor. That is why I favor long term options.

Also, note the sell signal generated on both daily and weekly charts. So for the short term I personally would not hold options less than 60 days during the holiday season. But, watch for seasonal rally the day after Thanksgiving, good place to cash-in.

Cheers!


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 aligator 
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NEM Down $1.41 at 53.17 now. They declared $0.35 Div. Earnings today after Market close. Estimate $0.90. 52.53 is the next support.

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