We still seem to be on track for it. The likely bottoming points are that shown in red in the $104.50 range as well as the center of the channel where the red line meets the rising blue line. That would be right at $105. So at this point I am holding and not trading a 1/2 position of JNUG. When this either throws under the lower rail or busts out the top rail, I'm all in, gattling guns a-blazing. In fact, as soon as that turns into a positive return bet, I will pile in on margin on the first dip (margin is used rarely and always with very tight stops.
EXPECT the coming bottom to be a VEE and not a rounded affair as the left cheek was. This is very typical behavior for the inclining double bottom!!
2 comments:
Great play on jnug captain! Did u tap into margin yet?
Not yet but soon I expect.
Margin is not for use at the exact bottom because, as good as the models CAN be, they don't HAVE to be. GLD has not even done 5 up yet even though I think that likely happens tomorrow. We will know 5 of 1 of 3 is in progress if we get a higher high than 107.70 tomorrow. So, let that sucker run and then let it pull back in 3 waves. ONLY THEN, ONLY after I have a fat profit with my non margin shares, ONLY when I think 3 of 3 is upon us, that is when margin makes sense and not before. Contrary to popular myths, greed is not good. Greed is the killer. And not because it is an "evil" emotion but rather simply because it is an emotion.
Post a Comment