Defensive positioning
Updated
Let's see. TLT is up. VIX is up. Gold price up. DXY cannot break though 97 again. Stock market indexes neutral.
I think some big money is moving into defensive positions. I'll open a position in NUGT as a hedge. Watching DXY to see if it goes higher than 97. If DXY drops from 97, NUGT should see a good return (hopefully).
I think some big money is moving into defensive positions. I'll open a position in NUGT as a hedge. Watching DXY to see if it goes higher than 97. If DXY drops from 97, NUGT should see a good return (hopefully).
Note
I sold half my position today ahead of the weekend to lock in gains. I'll let the other half ride. Stop loss moved up to $21 (the open on the gap-up). Gains = ( $22.70 - $19.50 ) = $3.20 / share = ~16.4%.
I'm happy with this!
Stay safe out there.
Trade closed: stop reached
$21 stop hit. I'm out of this position. Got nice gains on this one.Going to sit on the sidelines for a bit to determine some future direction.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.