It looks like we are almost done with this up-wave fractal. I have to say that my wave count worked well. Now, had I traded my own wave count to completion that would really have been something. We could have one little more minuette wave up before rolling over. I saw one 400,000 share block trade at 120.48 this morning. It might be selling.

5:18 exited the remainder JNUG for +.18.

5:16 a.m. PST. I imagine there is going to be a bit of volatility today after the Fed announcement. Gold and silver are up slightly now, but I am not sure that it will stay that way. I took 2/3 of my JNUG position off this morning for +.23 and +.21. I might exit all of it or hold through the volatility, depending, and then we will see about the close.

The dollar is slightly down, but could easily push higher.

My Wave count for PAAS is still in play. 🙂

12:45 pm. I added onto my JNUG position and also bought NEM, PAAS, and ABX to the long side. We are above the GDX, GDXJ, and NUGT prints, plus the pattern looks bullish. I really like how the mining stock charts are shaping up. I also saw SLV prints, 135,907 at 16.01 and we are above. I saw about another 660,00 shares of IAU traded at 11.15-.14 and we will probably close above, and another 234,490 of GDX traded at 20.95 and it looks like we will close above. All very bullish.

The market makers are the best traders in the room. They know what they are doing and they have shown their hand on the miners. They are buying.

I am a bull on Newmont Mining now. If it can break above 34.50, that is going to be huge. It will close above the 4/8/21 today.

QQQ also reached my target of $120 and $121 – nice call! – and could do a little more to the upside before rolling over.

8:12 NUGT also had Market Maker prints 585,000 traded at 7.86 and we are above that now and I speculate they bought NUGT too.

QQQ just had prints at 120.65 950,000 traded.

8:07am. I love it when I see the market makers trading the mining stocks. We had some really nice sized prints just a moment ago in GDX and GDXJ.

I opened a starting position in JNUG from 6.46. Judging by the way SLW is trading, it looks like the market makers are buying GDX and GDXJ.

GDX 975,000 shares traded at 20.74, and GDXJ 608,400 shares traded at 34.00, and 100,00 at 34.03.

These are the levels I will be watch for today’s close. If we close above, then I will probably add onto my position. I think the Market Makers are expecting gold to rocket higher into the Fed and afterwards.

6:47. stopped 6.50. Very small position.

6:38 am. PST. Bought a starting position in JNUG from 6.58.

TLT also looks like it has to do one more minute wave to $115.50-116. The markets may not do a whole lot until tomorrow’s Fed announcement. Possibly after the announcement the markets will make their final wave completions and then reverse into the new year as the market makers go on holiday.

Alternatively GDX could be close to breaking down to the $18-19 area and may have just completed a wave 4 triangle. Right now it is wedging and in the wedge.

I will probably look to enter the long side on the mining stocks today. /GC made a higher low and /SI is also making a series of higher lows. Let’s see if SLV can close above 16.23 today.

Today’s GDX resistance is at 20.78, 20.95, 21.06, 21.03, 21.18.

The QQQs are still on target to reach the $120 area. Yesterday I saw a massive about of market maker selling – billions of dollars worth. SPY had at least 9,000,000 shares traded at 226.46, and QQQ at least 2,000,000 traded at 119.50. Those are levels I will be watching.

Silver Wheaton’s chart plus /SI was the reason I got out of DUST at the close yesterday. I am glad I did. The circled pattern on SLW is typically a bullish-corrective a-b-c pattern and a bull flag and it closed positively.

I suppose all I really want to write is that there was a 9.5 million print DGAZ at 4.01.

The mining stocks are still in the middle of nowhere. I am out DUST.

I had one too many holiday and birthday parties this weekend and I think the fatigue from all those parties really got to me today. lol. I am going to go rest. 🙂

The 14,000,000 share print on DGAZ at the close on Friday at $3.38 was definitely a bearish signal for UNG. We closed .02 above those prints.