In the backlink I was modeling that C of 2 would complete within a few trading days with a likely low between 30 and 31 cents.
The recent bottom was 29 cents, close enough. Then it bounced and came back down to a higher low. This looks like more basing. I expect this to begin moving up rapidly soon.
I added my first tranche of TRX, just 2k shares, at 64 cents. The goal of these was not to trade but rather treat them as non-expiring calls on the price of gold and silver. They have gone down 50% but not because of time value, simply because the bottom for metals was not in yet. Because I like what I see in the chart, I just put in my market buy order for 3k more for the open. So maybe I can get them at 31 cents. It still represents a very small portion of my portfolio but if this just rallies back up to resistance @ 1.50 then it will be a pretty nice overall trade and it will very likely do that if gold hits 1350-1400 at least in the next 2 months.
Tuesday, September 8, 2015
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