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The Newmont Diary
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The Newmont Diary

  #21 (permalink)
Elite Member
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continuing

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Yesterday NEM along with the market dipped than rallied as I posted. This 5 minute chart is a good representation of the market swings. Well, yesterday as the rally was unfolding I became complacent and did nothing. And NEM moved up and up and up leaving my calls behind me. So, today being in a losing position with the puts above and the calls below, I had to pay attention. Being this is a retirement account, I can only go long.

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What I like about the XX template is how the blue X gets you ready or out of a trade, the yellow X represents the cycle of the swing trade and not to fooled by the blue X in over trading or false reversals.

This morning I let the market sort it out and about 10:25 I went long from the 30 second chart and I bailed with 48 calls. I should of allowed a little more time. I was trading on the 30 second vs. the 5 minute. The next trade at 10:35, I allowed to run almost 30 minutes. The 30 sec chart started to break down so I sold next Friday's 50 calls above me. It's not that NEM can't just pop up, I have to limit my risk. Because NEM did pop only to fail and swing down in the afternoon.

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AS NEM approached 48 in the afternoon (5 min) Blue X jump @ 2:15 but yellow X didn't. Blue X comes back down, Candles and ZLEMA are red. Right at 48. The premium on my diagonal spreads are positive (above $1.00), click the mouse, I have limited risk again.

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  #22 (permalink)
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TGIF

I didn't do any thing today except watch. But I could of picked up that afternoon rally if I was paying attention. The 5 minute chart remains clear. You can see a price move vs. congestion.

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NEM on the daily/weekly remains positive. I am looking for a "W" bottom. So far "V".

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  #23 (permalink)
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Close 48.19


I have 400 shares. 200 shares have the 60 puts and 50 calls. 200 shares have 47 calls. For trading, I have a 3 point band.

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This morning was a gap opening, no follow through. No direction and then down with a bottom. No trades.

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Is now a repeat of the prior shaded area? I don't know. Waiting for a "W" bottom.

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  #24 (permalink)
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Close: 47.84

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I didn't trade NEM today. The 5 minute XX chart looks superb. I am using this chart for other stocks. My longer term strategy is to wait for a change of trend to the upside and attack NEM differently. I have a 600 share magazine going into the last two days of the week and look forward to a trade tomorrow.

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  #25 (permalink)
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5,772@47.16 the close

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NEM was down from the start after it just couldn't move higher on the open. later in the day there was a small rally that I didn't want to participate.

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I am waiting for a "W" bottom with a positive up trend in both stochastics. But until that happens, I wanted to protect my 47 calls. So when NEM was close to 47, I flipped my 47 calls to June 15th and I used that premium to buy a June 15 47/44 put spread. Protection to 44.

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Need to roll the 50 calls tomorrow and maybe a trade.

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  #26 (permalink)
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TGIF 50.30

Friday the stock market fell out of bed. But the Euro didn't and certainly not gold and gold stocks. I totally mismanaged the day as I thought all things should fall. NEM was flat to down pre-market then had a gap open, up (yellow arrow). I waited for NEM to calm down but it didn't, I bought 200 at the green arrow and folded on the pull back (wrote calls). During the last minutes of trading instead of rolling the 50 calls forward, I did a 50 BuyWrite for this Friday. Closed the week with 800, start this week with 400.

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I need to trade NEM from the 5 minute chart and increase the size of my stop and stay with the ZLEMA.

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  #27 (permalink)
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51.55

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I have been doing a lousy job trading or swing trading NEM. Using charts of 5 and 1 minute. I can't trade NEM like I trade SPY (SSO). And I need to add more risk to my trades to be successful. So I switched to 30 and 5 minute charts. When I saw the 30 minute chart enter the optimal buy zone, I drilled down to the 15 minute chart. And I had a successful trade.

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Where I would of placed my stop on this trade I wrote two calls. And the premium added to the exit was the top price of the exiting bar. Ex - Div is Friday, so all ITM options for Friday will be scooped up for the $0.35 dividend.

51 was my break point, so I needed to get higher for an OTM call and so I wrote the 52.5s. I have enough for 200 shares, so I will play off 52.5.

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  #28 (permalink)
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Up Trend

NEM is officially in an up trend. We have a "W" bottom (HH & HL). Look left and an NEM broke above the pivot (the middle of the "W". Stochs and 25MA (above the 50MA) are positive.

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  #29 (permalink)
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51.35

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I didn't trade NEM today. Price stayed in a tight range. I was good up to 52.5.

Later in the afternoon I drew S&R lines on the chart. If we are an uptrend with the daily, we need to hold 49.60 on the 15 or we have a bigger consolidation.

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  #30 (permalink)
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51.72


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NEM had a gap opening higher, didn't hold and the chart tells the rest of the story. NEM goes X-Div tomorrow, need to own stock today to get the dividend. All IMT call options will be scooped up for the dividend.

Maybe, I will buy another 200 for the ITM call premium that will be called tonight.

Trying to sell that put spread to recover a little money, maybe on Friday.

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