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The Newmont Diary


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The Newmont Diary

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  #1 (permalink)
 Tiberius 
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Newmont Mining Corp.

This diary is about my NEM trading. I always liked NEM and I like gold. So, I am going to journalize my series of transactions. Let's see what I can do.

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 cory 
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I was in/out SWC.

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 Tiberius 
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I was in/out SWC.

Thanks Cory, My go to company for PGMs.

Nem in Hungarian means "No".

Okay, let's move on. The first NEM trade, yes? Yes.



I am doing what is called a RadioActive trade. But it is my way of doing the RadioActive trade. RadioActive meaning the decay of the option premiums. Isn't that clever? I have 200 shares of NEM married to 2 DEC 12 60 puts. When I bought NEM, I did it with a BuyWrite, selling the May 11st 48 calls. With the 2 puts, I have limited downside. The 60 puts have a Delta of .80 so if NEM raises a point the put only declines .8 of a point. Also, I am writing the weekly OTM options against the position, as with this BuyWrite, to generate weekly income. With the 48 calls, if NEM trades tomorrow at 48, I will buy 200 more shares to cover the call position and sell two more OTM calls.

When you look at the weekly/daily chart you can see why I married 2 puts to NEM.


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 Tiberius 
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so I rolled over to next Friday the triple witch



just some charts I was watching to keep me on the right side of the trade


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 Tiberius 
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I wrote the 47 calls Friday vs. the 48s for the better premiums. NEM's looking like it's trying to find a bottom. So I have to be on guard against a quick move up to 47.


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 Tiberius 
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popped up after opening lower, so I didn't roll down my calls a notch. I will wait for a clear 2 points before rolling to 46


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 Tiberius 
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come later in the afternoon, I saw the market melting down along with the gold stocks, NEM, so I rolled down two strikes for the premium. 47 to 45. Now I must guard 45. It's like playing 21, when the dealer collapses, jump on it.



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 Tiberius 
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NEM was UP all day long



I will look for the bottom to hold. Most likely a little early ..................


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 Tiberius 
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I traded NEM. It is just all over the place on the price ladder, so I used a STPLMT order. If my trade failed, I wrote the 44 calls since tomorrow is options expiration and it costs a dime to call 100 shares. I am a point and a quarter above 44. I tried the 2 range and 4 range, but they are choppy, so I settled on the 30 second chart.



I have enough juice in my account for another 200 shares which are needed for straight trading and at the end of the day to write 2 calls for next week, if NEM stays above 45.



The 30 second chart trades well, just read it and trade it. But price moves fast............

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 Tiberius 
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NEM had a gap open and started to run away. With the puts above and the calls below, I was is a losing situation. I did not know when NEM would stop and/or reverse. So I did a Buy Write above me at 47 which had the May 18th 47 calls.



Well, NEM hit a brick wall at 47 and a little, and stopped. Then reversed. Later on I rolled my 47 calls to next Friday. I ended the day with 1000 shares. 800 will be called for 80 cents and next Monday I will start the week with 200.



NEM last transaction as I write was $45.46. $1.50 below my calls.

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 RedK 
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Hi, thanks for sharing.. sounds great .. first journal i find with basic option plays, my favorite ..

but this chart also sounds like a great candidate for a straight long Put (ATM - front month) for a quick profit.. price action keeps below your "daily" MA on the chart and never crosses it.
have you considered to add some June ATM puts to your position for couple days? if no, can you share reason why not?
thanks,
RedK

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 Tiberius 
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RedK View Post
Hi, thanks for sharing.. sounds great .. first journal i find with basic option plays, my favorite ..

but this chart also sounds like a great candidate for a straight long Put (ATM - front month) for a quick profit.. price action keeps below your "daily" MA on the chart and never crosses it.
have you considered to add some June ATM puts to your position for couple days? if no, can you share reason why not?
thanks,
RedK

@RedK , no I didn't consider using June ATM puts. I am not very successful at trading ATM long options. So I adopted the RadioActive Strategy. Using the Dec 60 puts married to NEM, I calculated my potential loss (risk). Then, I write the weekly calls to gain income. It should take 4 to 8 weeks in call income to cover the put loss. And then I have 4 to 5 months of call writing with no downside risk. If NEM moves towards 60, the premium on the puts will fatten and at the right time I can roll my puts higher and longer. The trick is to trade shares against the call strike. Anything higher than the strike plus premium is potential loss.

My daily chart illustrates NEM as a short (long put) candidate. Price has been moving up the past many days and crossed the 25 MA on Monday. Could go with a long put or put spread if the daily stoch roll over. Maybe?

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 Tiberius 
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I didn't trade NEM on Monday. Right from the start NEM jumped to my call strike with a wide bid/ask spread.



I had a lot of activity in my household and being Monday (early in the week), I decided to sit back and wait. Several times I entered a STPLMT above the market price, but it never executed. So this morning it looks like NEM will open down some. After yesterday's jump up, then trading sideways. Open maybe just below the strike of 47.


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 Tiberius 
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As per the charts, the opening salvo was up, then it failed into a shake out. Like a fool I bought the jump up open scenario and wrote 2 47 calls on the start of the shake out. Check the charts, only to have price return to the opening price and move higher, HHs and HLs into the 48s. Wild price movement, only for mid day and afternoon price ground back to 47. Because I have only a 1000 share magazine, I hesitated to buy more like a deer in the head lights. But from experience, I don't panic and don't talk to the trading voices in my head. I am lucky now, back to 47.




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 Tiberius 
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opening took it down for a few minutes. my buy point is the blue arrow on a STPLMT. my stop is at the ZLEMA or Gamma lines.



but I didn't take the trade, I am comfortable around the 47 mark and not a wild west open

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 Tiberius 
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As of the prior post, the trade was stopped per the red arrow. If you watch the 5 min vid, it shows NEM bottoming out on a second long, but the 5 min limit hit. The trade was stopped at B/E on a ZLEMA stop. Chump change if you moved your stop along the bottom of higher candles.



NEM_video_2.swf

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 Tiberius 
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this is what I love about the BallBuster chart: along as the XX lays at the 0 or sticks to the 100, just stay with the trade with a stop just beyond the gamma line or bollinger band. the XX just relates a quality of price and it's movement. combine that with price action and .............................



the last short was the red arrow which is below the low of the first pair of red candles.

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 Tiberius 
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here's the rest of the story:


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 Tiberius 
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as one might think the end of the earth had hit the markets. just when you might think NEM was headed for the skids; look again:


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 Tiberius 
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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.



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.



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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 Tiberius 
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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.



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


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 Tiberius 
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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.



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



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

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 Tiberius 
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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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 Tiberius 
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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.



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.



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

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 Tiberius 
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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.





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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 Tiberius 
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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.



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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 Tiberius 
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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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 Tiberius 
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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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 Tiberius 
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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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 Tiberius 
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Not much today, there were no premiums on options to be had. The market makers made sure we little people couldn't take advantage of it before Ex-Div.

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 Tiberius 
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daily/weekly chart also.



There is a hook on the daily stochastics. No guarantee, but recent history has a follow through after the hooks.

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 Tiberius 
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Had 800 shares on the Thursday close. "They" clipped 400 shares to steal my dividends; the 47 and 49 calls. They left me the 50s and of course the 52.5s. So, 400 shares on Fridays open. I guess I am lucky to retain the 200 shares because of the 50s.



It was a nothing price action day. Sold my put spread, and rolled the 52.5 calls. They will call 200 shares because of the 50 calls; that is okay, I do not want them, got the dividends. 200 shares on the Monday open. If the bull of NEM continues, we will see a challenge of my 52.5s. If so, I will just BuyWrite 200 shares higher.

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 Tiberius 
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Okay , the 200 got called. Left with 200 and the 52.5 calls and 60 puts.



NEM just went lower all day. No problem, a 3 pt spread with price and the call strike. I will watch for any trend change and trade against 52.5.

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No action taken today. (Tuesday)


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No action by me today.



New weekly options series opens Thursday. Still have room up to 52.5. NEM looks like it started a new 15 min up trend except the Schaff has fallen from the top, but still have HHs and HLs.

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chart: as long as L1 holds the trend up continues as per the weekly stochastics


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Range bound today. There was follow through with the Schaff and then a weak bounce into the S&R line I drew last week. Friday, I will roll my 52.5 calls forward another week.


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I rolled the 52.5 calls forward with a calender spread.




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no action Monday, watching the 52.5 mark


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Nothing to write home about: tight range day, for which I am satisfied; can't trade NEM anyhow on a daily basis. So I will continue to watch the 52.5 level and if we don't get there, I will just ca-ching the next week's option series.


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Okay, NEM ranged between those S&R lines I drew a few weeks ago.



And sporting a new look on the daily/weekly chart.

new weekly option series today.

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I was using the twin SPY vs SPY template, but with 30 / 10 charts. With NEM, I saw it opened below the reddish ZLEMA, red candled (30 min). I had the 52.5 calls, so with NEM below 49, I vertical spread the 52.5 to 50. So, I brought my trade zone to 50 until Friday. Problem is that I did it with the wrong account so I had to reverse it. I did it with the right account right away as shown.






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Interesting: ZLEMA is below the Bollinger Band on 10 minute.




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down and more down. I will wait to Friday afternoon to put on next week's options series. Because, I can read a chart and it might say lower now but higher later. Looking for the 50 strike.



da, a break of my support line and on top of the next


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I bought the 50s back this morning at $1 each. Then in the afternoon I sold the 49s. I sold the 49s instead of the 50s because I wanted more premium. So I will deal with the 1 pt spread on Monday. Tread is still down, but coming to one of those S&R lines I drew on the other chart.


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NEM pushed higher all day. I don't want to day trade it. But the 49 strike is being violated, so I took a flyer with a 48 buy write to buy me some more upside with extra premium and to see tomorrow's open


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need to watch this chart


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My sense of selling the lower calls was better. Everytime I have to think, I am wrong. That's why I use charts. So trying to protect my upside, I opened the downside and today NEM opened to the downside. So I decided to play this out with a put spread, but by the time I made this decision, NEM was down a bit.



I played it correct and I was trying to anticipate the turn of the double stochastics because indies are late in signals and I had to deal with the bid/ask spread. I did good, I could have done better with the unknown. My reward was little. NEM rallied with the market, but the rally looks corrective.



Lesson: Just play (trade) the long puts, more reward.

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Price didn't range much today. I have the 48 and 49 calls. Between the two is good.


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busy day outside the trading room. NEM was down, so just to do something I sold a 49/48 vertical, net $11. Okay watch 48. All righty then.




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I didn't read the charts correctly. There they are right right in front of me.



If you look at the chart the dip was just a pullback, the indies said that but I didn't focus on them. So I sold the calender spread in the pullback, a 48 for a 48. Then NEM popped back above 48, so I was starting to get into a hole. So later I sold a 49 BuyWrite to open up the upside while opening the downside. So, I close the week with 600, 200 will be called and I start Monday with 400.


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I have this chart on another computer. The daily/weekly don't look so hot for a rally. We are at a turning point. So price will drive the indies. The weekly says down and the daily might say up which could say sideways. So Monday's price action will decide. Above the 25MA for up. Below the pullback pivot low for down.


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Not much of a day. Range day. Happy to see NEM remain between 48 and 49.


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Short day with a gap open higher. Then just grinding sideways on low volume because of the holiday cometh. With the gap open because gold jumped over night, it jumped my 49 strike. No movement in price, so I decided to do a 49 BuyWrite to grab some premium and the price back to 49.


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but no green candle. daily stoch is swinging higher against the downward weekly stoch.


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for now, selling the 49 calls looks brilliant as I sold the price back down to 49. Tomorrow is another day. NEM opened gap down then ranged in that area.



anyhow price leads the stochastics, so the stochastics will move to a signal when price breaks the high or low pivot.


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okay a quick recap of Friday: Yes the market was sinking away along with NEM, gap down open and sinking. I get caught up in the thought: if I don't roll the options now, I will lose that option premium, I am seeing. And the 48 calls will not be called.



On the charts, I could see a bottoming effect in NEM, just not sure if would cut loose for another leg down.



Low and behold, NEM did bottom and headed to 48 (which I thought was not possible today). NEM was above 48 and at the last minutes before 4:00 PM, invisible hands entered the market (maker) and drove NEM down to 47.92. And you know NEM 48s didn't get called. Imagine that. I also had SSO 52's in another account that didn't get called when SSO was at 54; what a banner Friday for us investing rubes.

Lesson: in the markets the impossible is possible.

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Monday:


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Tuesday:



Tuesday, NEM didn't have the down then up pattern. Just down ...........

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Wednesday:



Just a sideways grind. I was thinking of buying some puts to protect the downside, but every time I think: mostly I am wrong. So I didn't do it. And I thought maybe I should roll my options since my outstanding options were cheap, but I decided to wait to the end of the week. Thinking again, I was.

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Got a break of that pivot mentioned in a previous post. With increasing volume. Looks down to me .............. what do you say??



The Gold Miners ETF:


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Yes, NEM opened gap down and headed lower with the general market only to rally after 11:00. I checked the premiums of my outstanding options and they were as cheap as they would get. As time stamped on the trades image, NEM was consolidating, so I high balled the spread prices and they executed. I have 200 more shares that are married to puts and tomorrow after 3:30 I will sell 2 calls about 1 to 2 points higher than the stock. I sold the 47s and 49s today because moving down strikes without netting above the $1 price for the spread is an instant potential loss.





I don't know how many traders are involved with NEM or if it is the market maker, with 15 minutes to go in the RTH, they knocked NEM down.

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I waited untill 3:30ish to sell the remaining two calls. I decided to sell the 48s instead of the 47s. I can always roll down to the 47s.




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Not much happening with NEM today.


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On Tuesday, NEM opened gap down, then consolidated. I wanted to execute a vertical spread lower to 46, but I didn't want to get squeezed on a price pop. So I didn't.


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Wednesday another gap down open, then the whole day of consolidation.



So I did that vertical down to 46, but only after the premium had disappeared. I had put my order in yesterday and today as a higher then the bid, but it didn't execute. I finally threw another order out there for chump change.



And finally the daily/weekly chart is a good guide for the trend as NEM did break that lower pivot.


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Thursday another day. The image has two days of 15 minute bars. Yesterday, was the gap down and consolidation, today was the gap up and consolidation (up bias). I have 600 shares and tomorrow I will have to write two calls on 400 shares.


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Friday, gap up open and then consolidation. I wrote the 4 calls, 2 46s and 2 47s.




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Not much happening this Monday. I was going to do a spread or two to collect premium, but decided to hold tight. NEM took it on the chin Monday.


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Down on the day for Tuesday. Chart displays 2 days of bars.


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This chart for Wednesday is the whole day of 5 minute bars.





NEM moves mostly with Gold and Gold popped on Wednesday, so did NEM. NEM is a popular stock with the world's elite because it is the biggest gold company in the world. That happened when Newmont and Euro-Nevada merged. And NEM pays a nice dividend (yield).

Anyhow NEM pops and I have the 46 calls hanging there. I have to protect them because any amount over is a loss if the stock is called at 46 because on the outstanding 60 puts. So I waited and NEM moved back below 46, only to come roaring back. So, I decided to sell the 45s to collect the amount above 46 and some premium. Of course later in the day profit taking set in and clipped price back below 46.

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NEM sagged into the noon hour, then decided to rally above 46. For Friday I have 3 pairs of calls to deal with and enough in the magazine for 200 more shares if NEM bolts higher on open.


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Friday is the day for option rollover.



I like to wait for 3:30ish to roll over, but NEM was seriously lower from a poor earnings announcement. The 15 min chart is for two days, the first day on the chart being Friday. The outstanding calls that I have to buy back weren't going to get any cheaper, so I did the rollover. Of course NEM bottomed midday and pushed back into the gap by closing. In hindsight 3:30 was the better time.

The 1st spread was a diagonal, this are the options with the 60 puts. I needed more premium, so I rolled from 46 to 45. The 2nd spread was a calender, these are the 47s, I need to stay at 47, so I jumped two weeks for the premium. Lastly I have the 45s, enough premium here so I jumped one week.



So Friday was a doji.

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So, Friday two pairs of the four pairs of options are 45s. Fine. It's okay to take 200 shares at 45, but the other 45s are linked to the 60 puts. The 47 and the 49 calls are locked at the right price to profit. Any price of NEM over 45 begets a loss for this position for 200 shares because of the puts. So this chart is a two day chart with Monday being the second day.



So NEM opened slightly down at 44. So then after a $1.60 rally, NEM is well over 45.


So at this point, my human weakness just wants to buy another 200 shares and buy the price down to 45 with two more options plus to collect some more premium. But, I just let NEM work through this pop in price and waited for NEM to range.

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Okay, here you go. Patience pays off. NEM ranges back down into the 44s.

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 Tiberius 
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Again NEM challenges 45, but ranges in the 44s.

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 Tiberius 
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NEM ranged all day in the 44s. Then in the last 45 minutes, "they" broke the price down below 44.


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 Tiberius 
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Okay I had two pairs of options to deal with and I did wait to 3:00- for the first set and 3:30+ for the second. The first set was just to capture premium for 45 one week out. The second set for which the puts are married, I jumped out 2 weeks and up to 46. More room to work.



NEM opened higher and ground sideways. Just when you think it ain't going to get better, it does. So waiting to sell the options was the right thinking.


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 Tiberius 
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Within one hour and a half after the open, NEM was up a buck. Beyond 46 is a losing situation for 200 shares. Again I had the urge to buy 200 more shares and sell two more 46s, to buy down to the 46 point and to collect premium. But, No just let the profit taking grab hold and knock the price back down to 46. The close 46.13.

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 Tiberius 
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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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 Tiberius 
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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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 Tiberius 
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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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 Tiberius 
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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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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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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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 Tiberius 
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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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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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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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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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 Tiberius 
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The avatar is an animation of an energy vortex. Different energies can occupy the same space. So I am thinking that a short and a long (energies) can occupy the space of a trade.



And other than that, I got my wish and NEM closed above 47 and 400 shares should be called over the weekend. Giving me more trading capital for this account. The "47" position made a profit. Not sure if the "46" position did. Now if NEM heads down to 46 on Monday, it will give me the opportunity to trade up from there.

The short term trend is currently down.

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GLD is still in a wedge pattern. Correct me if I am wrong, but this wedge is a continuation pattern to the downside. Especially if price pushes higher into resistance and both stochastics are oversold. But in our manipulated world, what if GLD pushes through the resistance and above the 200MA. Gerald Celente just said if spot gold can take out 1670 then it is to 1750. If it takes out that then 2000. Well I will stick with the chart. And the weekly bars are starting to look bullish. But volume is lame.



GDX and NEM have virtually the same chart. GBX a bit more bullish, leading. Both have the look that caters to higher prices into resistance. The weekly stochastic is setting up to move through the stochastics sweet spot from 32 to 68. Just wish the daily was on bottom instead of the top. But OS can beget OS while the weekly does it job.




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 Tiberius 
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Saturday my computer crashed sometime after the last post. No worry, I have three computers. But this was my old XPS 400 Dell and it was running like a charm. A few years ago, I had maxed out the ram and added another harddrive which I used as the main C drive. C drive no more. So I spent time Sunday cleaning all the dust out of the fans (3) and motherboard and switched drives. Of course the old harddrive needed some 150 XP updates. But it is up and running.

So Monday, with an updating computer and all, plus now the crashed drive as F. The computer runs like crap. I need to physically disconnect and toggle off the F drive in the bios, to get this computer within a hope of running correctly.

Anyhow, I have NT7 running, IB up and running. But NT won't run the NEM charts, nothing happens. The SPY and SSO charts work, but no NEM. So I move NEM to NT on the laptop. Okay, now the NEM updates and plots.

But wait. IB is on the old computer. NEM is rallying. So, I put a 47 BuyWrite order on. Yes it executed, oh good, I just bought down NEM for premium.

(End of the Day) Yes.......... lets look at the trade log. Wait no trade, where is the trade? There is no trade. Wow, everything is still in chaos.




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After Monday's confusion and not getting that trade. And the gap open on NEM, I decided to jump into more NEM.



I went to a higher call strike because of the lost ground from the lost trade. So, I just did the trade and quickly.





of course: should da, could da, would da.

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Just another day at the office.



With the whole market sinking: at 2:00 PM some market whore must of injected some news hype into the market. It was up, up and away.




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 Tiberius 
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Thin range day. Gap up open and just faded. NEM was moving up with the Euro and Gold. While the general market was pulling back. Tomorrow the 46 and 50 calls expire; anything can happen. 46s look gone for sure.




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 Tiberius 
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Preparing for Issac here on Friday; I started on Thursday actually. Food, water and fuel.

Started Friday with 600 shares; Today the 50 and 46 calls are exposed to being called. NEM is below 49 and I have the 50 calls with little value. Gameplan: roll down the 50s to 49 in a vertical spread, collect premium and replace the 200 shares with (1) next weeks 50 calls if above 49 or if below 49 (2) do a diagonal spread into next week for the 50s.







option 1 happened

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 Tiberius 
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Forgot to save Monday's chart, so here is a combo for Monday and Tuesday. I ended Friday with 800 shares and start the week with 400 shares. The 46s and 49s were called.



Not much to say, NEMs been in a down trend for two days.


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 Tiberius 
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NEM made fresh lows and then popped up with the market, but only to fade away. Schaff is on bottom, so I am on the sidelines.


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