Best Stock Charts April 22, 2017
Last week we booked some profits in a couple long stock trades we had on in the Direxion 3x Leveraged ETF names (NUGT) which puts you long of the gold mining stocks as well as their emerging market ETF on Brazil the (BRZU). We continue to hold some shares in these names and plan on adding more if we begin to see money flow back in. As of now they are a watch.
Last week we took a tactical loss on half of our short position in (FIZZ) as it began to breakout on a 1 hour chart. It turned out to be the wise thing to do as the shares then vaulted up and into the low $90’s. At that point we added to our short position and ended the week on much firmer footing than where we began as the shares flased a bearish reversal day on Thursday and then broke down on Friday.
Best Stock Charts this week are…
(GLD) vs. (SPY) Gold is outperforming in 2017 by twice the return of the S&P 500. You don’t hear that on CNBC
(GLD) vs. (GDX) The gold miners are under-performing spot gold even with a weak US Dollar
(GLD) vs. Spot Gold GLD closed down last week with spot gold up and breaking out. No Bueno!
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