Closing Thoughts

1:02 pm PST. Very dramatic sell-off in the miners. I know of only two traders who actually caught the bulk of the move down from last Friday. Kudos to you Cameron and Ron. Mortdiggiddy on Great trading.


Gold tagged the 200 sma-day almost exactly.


This is going to be interesting with the coordination between the U.S. core indices, treasuries, gold and a possible interest rate hike in March. Typically gold and treasuries are the risk off trade.


SPY with BAC overlayed in the black line.


The Wave (2) correction took about two months to happen. While the wave (ii) correction took about one month to complete. This means that wave (4) will likely take between one to two months to complete in what I expect will be a wedge a-b-c-d-e formation.

4 thoughts on “Closing Thoughts

  1. Insane that the miners are behaving like this. Gold and silver are strong so why the divergence? Who is selling?


  2. Yeah John. lol. I had a trading plan that prices would bounce from the bull flag formation, but once they broke down from it, I was out. That is the way it goes. Sometimes the trade works and sometimes they don’t.

    I am trying not to have a bias. Gold still has not broken any major support levels from what I can see, and neither has silver. GDX stopped at a confluence of support. But, that can all change. Let’s see how the price action does tomorrow. Thanks!


  3. A lot of people were selling. There were the short sellers, momentum traders, and then those who were long who just decided to exit en masse. GDX is going to have to do some work to start looking bullish again.


  4. If you are asking about Cameron Osborne and Ron, they are two of the best day traders I know. Those guys are amazing. Cameron is maybe, 30 years old? Ron, I do not know his age, perhaps in his 40’s not sure. I follow them in the Java Pit at the They do not always reveal their trades until they are getting out of them, though. lol.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s