goldbug1

goldbug1

Not much to point out here, everything from last week still in play. Our trade from 70k is getting close to T2 and there is not much to do here but let it play out. Starting to get the moon-boy shouts now, they have suddenly risen from the dead and they are followed up by the overly cautious traders who talk a lot of S#$% but don't make money and seldom have...

goldbug1

Couple weeks ago gave the buy for DOGE about the same time that Bitcoin was trying to break out. The breakout has happened but right into resistance, so what to do now? There were a couple long setups that formed prior to taking this trade via inside bullish pinbars on the weekly chart. I always start with the weekly because you can get a good idea of order...

goldbug1

Back in August we added some BROS to our portfolio and now we are looking at a wonderful 50% profit. Will likely be taking some profits tomorrow. Lots of our stocks are in full rally mode so want to start looking at taking some profits here.

goldbug1

Been around 2 weeks since I sent out that Bitcoin trade in addition to adding some DOGE to my portfolio. So as we linger just below T1, many may wonder "where can I get in and is it ok for me here?" The answer is not so simple. If you missed the opportunities to buy at lower prices for the long term and are like "crap I missed it again", buy a small starter...

goldbug1

Hope you read my last TSLA idea and bought a little Tesla! When it comes to fundamentals, the most important fundamental is innovation!! Is a company innovating and making new projects which creates new wealth for shareholders? Well Tesla is that company and it is still a BUY in my book. However I would let the market cool off here from the Post election...

goldbug1

Often traders try to rationalize market moves, over think variables, and do NOT listen to money flow. Two weeks ago I posted a trade for Bitcoin, sure it was at a high, but the money was flowing into Bitcoin for whatever reason. We did NOT try to rationalize this, we did NOT know why it was wanting to break out, however, we put our feelings and thoughts aside...

goldbug1

So in our group the other day I posted a trade with a potential target of 95k. Yes we have been patient and patient and even more patient waiting for the right setup. Finally I there was a setup I liked and so we took it. This was a broad seven (7) month consolidation which is often indicative of 4th waves. Look at Gold for example, broad consolidation before...

goldbug1

As mentioned in the group, went bullish on Bitcoin around 65k buying a little for my current target of 95k. This was adding to my current position. So why bullish now? Lets explain. Let's start with consolidations are generally continuation patterns. They come in all shapes and sizes, flags, pennants, whatever you want to call it. The other point is this...

goldbug1

So lots of comments in the Twittersphere on how Tesla is not a buy because it is trading at a ridiculous PE of 61. If you are buying stocks based on PE alone, or even PE at all, you are a dullard and stop already. What matters to the value of the company is the ingenuity, the growth, the potential, not what it's PE is at right now. Had you based your decision...

goldbug1

Seeing a lot of Bitcoin bulls as of recent, and it seems that we are in the last leg of this broad consolidation, or are we? I am not so fond of "looking bullish vs I want to buy the next dip". Generally when you are hearing, ohhh I will buy the next pullback, it is a sign that the boat has left shore. So what is the chart telling us? I am leaning bullish here...

goldbug1

Very interesting pattern showed up on the charts at the close of yesterday. Initially we had a shooting star, but three in a row? Very Rare indeed tri-star pattern which may sound cool but it is simply a random pattern. Does this imply a bearish reversal here? Nope!! Do not get too caught up in patterns that randomly appear vs orderflow which is a much better...

goldbug1

So taking some PAIN as the markets wants to rally. However I am still not really worried as I am of the opinion that yesterday was just noise, pushing players out and setting up for a pullback. For those of you following back when inflation was "transitory" I was telling my followers that it was not transitory that it was going to stick. The FED is generally...

goldbug1

Augghhhh Taking some pain with my short position, but not the first time I have been here. Going to see where we are closer to close of the day or perhaps tomorrow to see if I should close out. 1) I don't want to be short if this market breakout sticks. That could be really painful and I may just have to blow this out and take my loss. 2) I don't want to...

goldbug1

There is always the potential of being assigned and here we are assigned a 200 share short position. Not a bit worried as we are entering this very broad resistance area. Have a couple options here. 1) I can close out and take a loss, not going to do that yet. 2) Sell PUTs against my short position to cover or collect more premiums. (May opt to do this will...

goldbug1

SPY - Sell to Open 12SEPT (Today) 555 Calls (2 contracts) @ $1.37 I am taking short term trades here selling into a market I am guessing will correct sooner than later. Not sold on this rally and I want to position myself short. Since there is no Setup right now, I am simply selling short term Calls which will either expire worthless today, or getting a better...

goldbug1

Ok so back home after a well deserved vacation. Not sold on the rally today so I am looking at selling a couple of short term Calls on the SPY. Looking for this market to give us a decent leg lower. Sell to Open SPY 10SEP 550 Call @ 1.00 (2 Contracts) expiring tomorrow. I do not mind taking the short position here if assigned.

goldbug1

Been on vacation at a friend's cabin in Maggie Valley riding our asses off. Yes sore ass, back needs an adjustment but it surely has been worth it. Just some great riding up here and the weather could not be more perfect. But not everything is smooth roads and beautiful scenery. Yes our trade was tapped out last Friday right before the close, with a high of...

goldbug1

Nice bullish consolidation pattern after taking out the 785 resistance level. Looking for NOW to take out the 835 current resistance level for a swing towards 950. Looking at a position trade here, either buying the dip (if the market pulls back some here) or if we break 835.