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The Newmont Diary


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The Newmont Diary

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  #81 (permalink)
Market Wizard
Coos County New Hampshire
 
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Today, is mostly a sideways day. NEM pop up for two hours and consolidated. Just playing it cool today.



This chart is 2 days of price bars. The Schaff has broken down before the blue background and inside green bar.

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  #82 (permalink)
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NEM jumped up on the open, grinding higher.



The jump makes you want to bite on a purchase, then later out of the blue, NEM caves.

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  #83 (permalink)
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This time NEM opened down, then started it's climb. Only to top out. I didn't bite on this either.


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  #84 (permalink)
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I didn't transact with NEM this week. Day by day it was basically the same price action. So what do we have at the end of the week? Higher highs and higher lows.



Ended Friday with 800 shares, but 200 will be called with this week's 45s, leaving next week's 46, 47 and 49s.

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  #85 (permalink)
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NEM is looking better on a negative (bear) chart and still needs to prove itself. There is much overhead resistance.



And Gold influences NEM to the Nth degree and GLD is in a triangle or wedge.


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  #86 (permalink)
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I checked the gold price in Europe and it was down a little bit, pre-market. Got a price pop that was not confirmed by the Schaff and NEM sank. The pattern of higher highs and higher lows is broken. Stay tuned!!



200 shares were called from those 45 calls. Balance 600 shares.

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  #87 (permalink)
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Gold was off a bit today. Even with that, NEM's opening (the box) was like a bull trap; fast price action, wide Bid/Ask. But the Schaff didn't budge and NEM capitulated to the downside.



Now we are getting lower highs and lower lows. Going down to 46 is okay since the puts are married to 46. If NEM wants to rally, I am in for 200 more shares.

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  #88 (permalink)
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The open was the same story as before, see the box in the chart.



NEM started to dip again; so since all the calls were going to expire Friday. I checked the Delta of the 49s and could see if NEM continued down then I lost opportunity for premium. So, I did a 49 calender spread.





NEM continued down and later reversed. I am looking for a long swing trade. But with the market in general being so boring, I totally missed the trade.



I have been watching the 3 and 5 minute charts against the 15 minute chart. I was not at my desk when the opportunity arose; but I should of been long above 46.20.

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  #89 (permalink)
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NEM was the same old open routine (box). Then I allowed NEM to get away from me. And I took the leap in no-mans land at 47.22. But it wasn't no-mans land as NEM continued higher. I had decided since I missed yesterday's trade and the 46 and 47 calls may be called on Friday, I decided to close out the trade writing next week's 46 calls to take in premium.





THE Arrows!!! One problem with indicators is that you can give back quite a bit before you get a sell signal, so I was on guard. I had the ultimate indie (upgraded) on the chart. So the Ulti gives a momentum sell signal, so I am watching. The ZeroLagMA gives an out signal as the blue background disappears as I pulled the trigger on the calls. Still had green bars but ..................... but. The Schaff and Gamma gives the sell signals later.


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  #90 (permalink)
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NEM is just an hour and a quarter past the open. The first many minutes was the same old sucker routine. Then it calmed down and started to trend down. This 5th bar, NEM has the red background.



My wish is that NEM closes above 47, and the 46 and 47 calls are exercised.

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