Tuesday, September 8, 2015

[TRX] update

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.



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